FT Cboe Vest U.S. Equity Moderate Buffer ETF… (GAPR) Performance
GAPR total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +6.4% since Dec 31, 2025
- 1 year
- +8.1% total return
- 3 years
- +11.8% a year
- Since first price
- +10.8% a year since 2023
GAPR trailing returns vs SPY, QQQ, AGG
| Period | GAPR total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −0.1% | −0.1% | −1.0% | −5.0% | +0.9% |
| 3 months | +2.4% | +2.4% | +3.2% | +1.9% | −0.4% |
| 6 months | +4.8% | +4.8% | +7.8% | +8.4% | −1.5% |
| YTD | +6.4% | +6.4% | +12.3% | +15.1% | −1.0% |
| 1 year | +8.1% | +8.1% | +14.4% | +15.9% | −1.1% |
| 3 years | +39.8%+11.8%/yr | +39.8% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionApr 24, 2023 | +43.1%+10.8%/yr | +43.1% | — | — | — |
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: GAPR vs SPY
From Apr 24, 2023: GAPR grew to $14,311, SPY to $19,236.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
GAPR returns by calendar year
2 of 2 full years positive. Best 2024 (+14.5%), worst 2025 (+6.7%). 2026 is year to date.
GAPR annual returns table
| Year | GAPR | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +6.4% | −1.7% | +12.3% | +15.1% | −1.0% |
| 2025 | +6.7% | −9.0% | +17.7% | +20.8% | +7.2% |
| 2024 | +14.5% | −3.6% | +24.9% | +25.6% | +1.3% |
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.
GAPR risk statistics
| Statistic | 3 years | Since 2023 |
|---|---|---|
| Annualized return | +11.6% | +10.9% |
| Volatility (annualized) | 4.5% | 4.9% |
| Sharpe ratio | 1.51 | 1.27 |
| Sortino ratio | 3.18 | 2.50 |
| Best month | +5.5% | +5.5% |
| Worst month | −2.6% | −2.6% |
| Best 12 months | +21.0% | +21.0% |
| Worst 12 months | +5.7% | +5.7% |
| Positive months | 83% | 80% |
| Beta vs S&P 500 | 0.26 | — |
| Correlation with S&P 500 | 0.71 | — |
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.
GAPR rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 31 | +5.7% | +8.8% | +21.0% | 100% |
| 3-year (a year) | 7 | +10.1% | +11.0% | +11.9% | 100% |
Every holding period starting at a month-end since 2023. Returns for 3 years and longer are annualized.
GAPR performance overview
FT Cboe Vest U.S. Equity Moderate Buffer ETF… (GAPR) returned +8.1% over the past year, with distributions reinvested. Since its first recorded price in 2023 it has returned +10.8% a year, turning $10,000 into about $14,311. Over the same year S&P 500 (SPY) returned +14.4%.
Related: GAPR chart. See the GAPR overview for the latest quote and fund facts.
GAPR performance FAQ
What is the GAPR return over the past year?
GAPR returned +8.1% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 8.1%.
How much would $10,000 invested in GAPR be worth?
$10,000 invested in GAPR at its first recorded close on April 24, 2023 would be worth about $14,311 on October 23, 2026 with distributions reinvested.
What was the worst year for GAPR?
The worst calendar year was 2025, with a total return of +6.7%. The best was 2024 at +14.5%.
How volatile is GAPR?
Over the past 3 years GAPR had an annualized volatility of 4.5% and a Sharpe ratio of 1.51 (excess return over 1–3 month T-bills per unit of risk).