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DSEP FT Vest U.S. Equity Deep Buffer ETF - September

Issuer
First Trust
Inception
Sep 18, 2020
AUM
$431.2M
Expense ratio
0.85%
Yield
—
Asset class
Multi-Asset
Holdings
4
Last price
$48.64

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.

+9.4%
2025-11-13low 43.34 · high 49.422026-11-13

Performance

1M3MYTD1Y3Y ann.5Y ann.
DSEP-1.6%+0.5%+8.3%+9.7%+11.9%+8.1%
Multi-Asset average (228 funds)-1.4%-1.9%+4.0%+5.0%+7.5%+3.3%

Insider activity in the holdings

Open-market insider buying across this fund’s holdings over 90 days, weighted by holding weight: +$0 net.

No open-market insider buys in the holdings in the last 90 days.

Holdings · as of Nov 12, 2026

#HoldingWeight
1DSEP 2027-09-17 State Street® SPDR® S&P 500® ETF Trust C 7.5497.76%

Sector breakdown

Technology38.5%
Financial Services12.1%
Communication Services9.6%
Consumer Cyclical9.3%
Healthcare9.3%
Industrials7.8%
Consumer Defensive4.5%
Energy3.4%
Utilities2.0%
Real Estate1.8%
Basic Materials1.7%

Country breakdown

Not on file.

Distributions

No distributions on file.

Members of Congress who disclosed this ETF

No member of Congress has disclosed a trade in DSEP in the filings we hold.

Fund facts, prices, performance and distributions: our market-data vendor. Holdings: the vendor and SEC Form N-PORT. Insider and Congress data: InsiderBuying. Last updated Nov 13, 2026. This is historical data, not investment advice. Report a data error