FT Cboe Vest U.S. Equity Buffer ETF - September (FSEP) Performance
FSEP total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +10.7% since Dec 31, 2025
- 1 year
- +12.4% total return
- 5 years
- +10.2% a year
- Since first price
- +11.4% a year since 2020
FSEP trailing returns vs SPY, QQQ, AGG
| Period | FSEP total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −0.5% | −0.5% | −1.0% | −5.0% | +0.9% |
| 3 months | +3.7% | +3.7% | +3.2% | +1.9% | −0.4% |
| 6 months | +7.4% | +7.4% | +7.8% | +8.4% | −1.5% |
| YTD | +10.7% | +10.7% | +12.3% | +15.1% | −1.0% |
| 1 year | +12.4% | +12.4% | +14.4% | +15.9% | −1.1% |
| 3 years | +55.5%+15.8%/yr | +55.5% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +62.3%+10.2%/yr | +62.3% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionSep 21, 2020 | +93.4%+11.4%/yr | +93.4% | — | — | — |
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: FSEP vs SPY
From Sep 21, 2020: FSEP grew to $19,342, SPY to $25,201.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
FSEP returns by calendar year
4 of 5 full years positive. Best 2023 (+20.2%), worst 2022 (−7.1%). 2026 is year to date.
FSEP annual returns table
| Year | FSEP | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +10.7% | −5.6% | +12.3% | +15.1% | −1.0% |
| 2025 | +12.8% | −12.4% | +17.7% | +20.8% | +7.2% |
| 2024 | +13.6% | −3.0% | +24.9% | +25.6% | +1.3% |
| 2023 | +20.2% | −7.4% | +26.2% | +54.9% | +5.7% |
| 2022 | −7.1% | −13.8% | −18.2% | −32.6% | −13.0% |
| 2021 | +11.6% | −2.5% | +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.
FSEP largest drawdowns
Now 1.4% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 3, 2022 | −13.8% | Jun 16, 2022 | Jun 1, 2023 | 5 months | 1.4 years |
| Feb 19, 2025 | −12.4% | Apr 8, 2025 | Jun 10, 2025 | 48 days | 4 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
FSEP risk statistics
| Statistic | 3 years | 5 years | Since 2020 |
|---|---|---|---|
| Annualized return | +15.5% | +11.0% | +11.3% |
| Volatility (annualized) | 7.6% | 9.9% | 9.6% |
| Sharpe ratio | 1.37 | 0.75 | 0.86 |
| Sortino ratio | 2.91 | 1.24 | 1.48 |
| Best month | +6.6% | +6.6% | +7.4% |
| Worst month | −3.6% | −5.9% | −5.9% |
| Best 12 months | +22.0% | +22.0% | +22.0% |
| Worst 12 months | +4.8% | −7.1% | −7.1% |
| Positive months | 75% | 67% | 68% |
| Beta vs S&P 500 | 0.60 | 0.62 | — |
| Correlation with S&P 500 | 0.98 | 0.98 | — |
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.
FSEP rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 62 | −7.1% | +12.4% | +22.0% | 82% |
| 3-year (a year) | 38 | +7.2% | +10.2% | +17.0% | 100% |
| 5-year (a year) | 14 | +8.6% | +10.1% | +11.6% | 100% |
Every holding period starting at a month-end since 2020. Returns for 3 years and longer are annualized.
FSEP performance overview
FT Cboe Vest U.S. Equity Buffer ETF - September (FSEP) returned +12.4% over the past year and +10.2% a year over five years, with distributions reinvested. Since its first recorded price in 2020 it has returned +11.4% a year, turning $10,000 into about $19,342. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −13.8%, from Jan 3, 2022 to Jun 16, 2022, and it took 11 months to get back to the old high. FSEP finished 4 of its 5 full calendar years with a gain; the best year was 2023 (+20.2%) and the worst 2022 (−7.1%). Volatility has been 9.6% a year.
Related: FSEP chart. See the FSEP overview for the latest quote and fund facts.
FSEP performance FAQ
What is the FSEP return over the past year?
FSEP returned +12.4% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 12.4%.
What is the average annual return of FSEP?
FSEP has returned +10.2% a year over 5 years, +11.4% a year since September 21, 2020 (total return, distributions reinvested).
How much would $10,000 invested in FSEP be worth?
$10,000 invested in FSEP at its first recorded close on September 21, 2020 would be worth about $19,342 on October 23, 2026 with distributions reinvested.
What was the worst year for FSEP?
The worst calendar year was 2022, with a total return of −7.1%. The best was 2023 at +20.2%.
What is the biggest drawdown of FSEP?
The largest peak-to-trough decline was −13.8% between January 3, 2022 and June 16, 2022. It recovered to the old high on June 1, 2023, 11 months after the bottom.
How volatile is FSEP?
Over the past 3 years FSEP had an annualized volatility of 7.6% and a Sharpe ratio of 1.37 (excess return over 1–3 month T-bills per unit of risk).