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FT Cboe Vest U.S. Equity Buffer ETF - September (FSEP) Alternatives

ETF · Currency in USD · Last updated Jun 24, 2026

FSEP is a passive ETF by FT Vest tracking the investment results of the Cboe S&P 500 Buffer Protect Index September. FSEP launched on Sep 17, 2020 and has a 0.85% expense ratio.

FT Cboe Vest U.S. Equity Buffer ETF - September (FSEP) belongs to the Options Trading category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with FSEP. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to FSEP

FSEP charges 0.85% annually. There are 84 ETFs in the Options Trading category with lower expense ratios, going as low as 0.29%.

SymbolNameExpense RatioAUMInception
PHEQ
Parametric Hedged Equity ETF0.29%137.12MOct 2023FSEP vs PHEQ
XLRI
State Street Real Estate Select Sector SPDR Premiu...0.35%2.57MJul 2025FSEP vs XLRI
HEQT
Simplify Hedged Equity ETF0.43%316.92MNov 2021FSEP vs HEQT
ISWN
Amplify BlackSwan ISWN ETF0.49%36.90MJan 2021FSEP vs ISWN
PMDE
PGIM S&P 500 Max Buffer ETF - December0.50%6.51MNov 2025FSEP vs PMDE

Best Risk-Adjusted Alternatives to FSEP

FSEP has a PortfoliosLab risk / return rank of 71. There are 84 ETFs in the Options Trading category with higher risk-adjusted ranks, going as high as 99.

SymbolNameRisk / Return RankAUMInception
LAPR
Innovator Premium Income 15 Buffer ETF - April
99
—Mar 2024FSEP vs LAPR
APRJ
Innovator Premium Income 30 Barrier ETF - April
98
32.69MMar 2023FSEP vs APRJ
APRW
AllianzIM U.S. Large Cap Buffer20 Apr ETF
98
198.50MMay 2020FSEP vs APRW
PBAP
PGIM US Large-Cap Buffer 20 ETF - April
97
—Mar 2024FSEP vs PBAP
APRP
PGIM US Large-Cap Buffer 12 ETF - April
97
—Mar 2024FSEP vs APRP

Top Performing FSEP Alternatives (YTD)

FSEP is at 5.82% YTD. There are 44 ETFs in the Options Trading category with higher YTD returns, going as high as 101.34%.

SymbolNameYTD ReturnAUMInception
AMDY
YieldMax AMD Option Income Strategy ETF
101.34%
409.32MSep 2023FSEP vs AMDY
IWMY
Defiance R2000 Enhanced Options & 0DTE Income ETF
14.94%
97.61MOct 2023FSEP vs IWMY
QQQY
Defiance Nasdaq 100 Enhanced Options Income ETF
14.69%
184.62MSep 2023FSEP vs QQQY
KQQQ
Kurv Technology Titans Select ETF
14.14%
100.42MJul 2024FSEP vs KQQQ
QDTE
Roundhill Innovation-100 0DTE Covered Call Strateg...
12.61%
864.88MMar 2024FSEP vs QDTE

Lowest Volatility Alternatives to FSEP

FSEP has 7.62% 1-year volatility. There are 91 ETFs in the Options Trading category with lower 1-year volatility, going as low as 1.26%.

SymbolNameVolatility 1YAUMInception
LAPR
Innovator Premium Income 15 Buffer ETF - April1.26%—Mar 2024FSEP vs LAPR
CAOS
Alpha Architect Tail Risk ETF1.50%668.40MAug 2013FSEP vs CAOS
JULJ
Innovator Premium Income 30 Barrier ETF - July1.54%13.80MJun 2023FSEP vs JULJ
APRJ
Innovator Premium Income 30 Barrier ETF - April1.56%32.69MMar 2023FSEP vs APRJ
XIMR
FT Vest U.S. Equity Buffer & Premium Income ETF - ...2.08%—Mar 2024FSEP vs XIMR

Lowest Drawdown Alternatives to FSEP

FSEP has a 1-year max drawdown of -5.62%. There are 88 ETFs in the Options Trading category with shallower 1-year drawdowns, going as shallow as -0.36%.

SymbolNameMax Drawdown 1YAUMInception
LAPR
Innovator Premium Income 15 Buffer ETF - April
-0.36%
—Mar 2024FSEP vs LAPR
APRJ
Innovator Premium Income 30 Barrier ETF - April
-0.40%
32.69MMar 2023FSEP vs APRJ
JULJ
Innovator Premium Income 30 Barrier ETF - July
-0.61%
13.80MJun 2023FSEP vs JULJ
CAOS
Alpha Architect Tail Risk ETF
-0.76%
668.40MAug 2013FSEP vs CAOS
APRW
AllianzIM U.S. Large Cap Buffer20 Apr ETF
-0.89%
198.50MMay 2020FSEP vs APRW

Other ETFs from FT Vest

The 10 most viewed FT Vest ETFs shown here include BGLD, RDVI, BUFQ and span 7 categories. AUM among these funds goes as high as $4B.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
BGLD
FT Vest Gold Strategy Quarterly Buffer ETFDefined Outcome, Gold, Precious Metals
18
-3.71%
49.20MJan 2021FSEP vs BGLD
RDVI
FT Cboe Vest Rising Dividend Achievers Target Inco...Derivative Income
69
13.37%
3.76BOct 2022FSEP vs RDVI
BUFQ
FT Vest Laddered Nasdaq Buffer ETFNasdaq-100, Options Trading
79
7.95%
1.49BJun 2022FSEP vs BUFQ
BUFD
FT Vest Laddered Deep Buffer ETFDefined Outcome
86
4.55%
1.88BJan 2021FSEP vs BUFD
FOCT
FT Vest U.S. Equity Buffer ETF - OctoberDefined Outcome
76
5.72%
1.22BOct 2020FSEP vs FOCT
FDND
FT Vest Dow Jones Internet & Target Income ETFTechnology Equities
8
-5.36%
—Mar 2024FSEP vs FDND
DOGG
FT Vest DJIA Dogs 10 Target Income ETFDerivative Income
48
7.19%
73.65MApr 2023FSEP vs DOGG
FFEB
FT Vest U.S. Equity Buffer ETF - FebruaryDefined Outcome
81
6.88%
1.36BFeb 2020FSEP vs FFEB
DDEC
FT Vest U.S. Equity Deep Buffer ETF - DecemberDefined Outcome
84
4.35%
425.94MDec 2020FSEP vs DDEC
GMAR
FT Cboe Vest U.S. Equity Moderate Buffer ETF - Mar...Options Trading
97
7.45%
397.78MMar 2023FSEP vs GMAR

Often Compared With FSEP

Investors most often compare FSEP with BUFG, FAPR, DJUL. These 20 comparison targets span 5 categories, based on PortfoliosLab usage data.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
BUFG
FT Cboe Vest Buffered Allocation Growth ETFOptions Trading
71
5.63%
325.19MOct 2021FSEP vs BUFG
FAPR
FT Vest U.S. Equity Buffer ETF - AprilDefined Outcome
91
4.22%
1.16BApr 2021FSEP vs FAPR
DJUL
FT Cboe Vest U.S. Equity Deep Buffer ETF - JulyOptions Trading
89
4.98%
404.02MJul 2020FSEP vs DJUL
FDEC
FT Vest U.S. Equity Buffer ETF - DecemberDefined Outcome
80
5.40%
1.38BDec 2020FSEP vs FDEC
XAPR
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer...Options Trading
95
2.92%
—Apr 2024FSEP vs XAPR
DAUG
FT Vest U.S. Equity Deep Buffer ETF - AugustDefined Outcome
82
4.97%
364.47MNov 2019FSEP vs DAUG
XISE
FT Cboe Vest U.S. Equity Buffer & Premium Income E...Options Trading
84
3.14%
36.53MSep 2023FSEP vs XISE
FMAR
FT Vest U.S. Equity Buffer ETF - MarchDefined Outcome
96
9.35%
1.19BMar 2021FSEP vs FMAR
QDEC
FT Vest Nasdaq-100 Buffer ETF – DecemberNasdaq-100, Defined Outcome
76
7.96%
697.62MDec 2020FSEP vs QDEC
LQTI
FT Vest Investment Grade & Target Income ETFDerivative Income
29
0.47%
292.66MFeb 2025FSEP vs LQTI
XJUN
FT Vest U.S. Equity Enhance & Moderate Buffer ETF ...Defined Outcome
90
2.66%
210.75MJul 2021FSEP vs XJUN
TDEC
FT Vest Emerging Markets Buffer ETF - DecemberDefined Outcome, Emerging Markets Equities
65
7.66%
10.25MDec 2024FSEP vs TDEC
GMAY
FT Cboe Vest U.S. Equity Moderate Buffer ETF - MayOptions Trading
78
3.36%
470.14MMay 2023FSEP vs GMAY
BUFZ
FT Cboe Vest Laddered Moderate Buffer ETFOptions Trading
86
4.56%
983.46MOct 2023FSEP vs BUFZ
GOCT
FT Cboe Vest U.S. Equity Moderate Buffer ETF - Oct...Options Trading
83
5.00%
296.50MOct 2023FSEP vs GOCT
DNOV
FT Vest U.S. Equity Deep Buffer ETF - NovemberDefined Outcome
90
4.40%
392.11MNov 2019FSEP vs DNOV
GDEC
FT Cboe Vest U.S. Equity Moderate Buffer ETF - Dec...Options Trading
82
4.55%
438.45MDec 2023FSEP vs GDEC
DOCT
FT Vest U.S. Equity Deep Buffer ETF - OctoberDefined Outcome
85
4.64%
390.25MOct 2020FSEP vs DOCT
XDEC
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer...Defined Outcome
81
4.14%
175.35MDec 2021FSEP vs XDEC
DMAR
FT Cboe Vest U.S. Equity Deep Buffer ETF - MarchOptions Trading
97
6.84%
420.08MMar 2021FSEP vs DMAR

Compare FSEP with Any Fund or Stock

Compare FSEP with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.

 

Diversifiers

Pair FSEP with funds that move differently

FT Cboe Vest U.S. Equity Buffer ETF - September alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to FSEP.

Explore FSEP Diversifiers