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

ETF · Currency in USD · Last updated Aug 4, 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 90 ETFs in the Options Trading category with lower expense ratios, going as low as 0.14%.

SymbolNameExpense RatioAUMInception
CBOX
Calamos Tax-Aware Collateral ETF0.14%1.21BApr 2026FSEP vs CBOX
PHEQ
Parametric Hedged Equity ETF0.29%139.40MOct 2023FSEP vs PHEQ
XLRI
State Street Real Estate Select Sector SPDR Premiu...0.35%2.87MJul 2025FSEP vs XLRI
HEQT
Simplify Hedged Equity ETF0.43%296.16MNov 2021FSEP vs HEQT
CTIF
Castellan Targeted Income ETF0.45%—Jun 2025FSEP vs CTIF

Best Risk-Adjusted Alternatives to FSEP

FSEP has a PortfoliosLab risk / return rank of 83. There are 76 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
32.22MMar 2023FSEP vs APRJ
APRW
AllianzIM U.S. Large Cap Buffer20 Apr ETF
98
199.47MMay 2020FSEP vs APRW
PBAP
PGIM US Large-Cap Buffer 20 ETF - April
98
—Mar 2024FSEP vs PBAP
XMAR
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer...
98
153.67MMar 2023FSEP vs XMAR

Top Performing FSEP Alternatives (YTD)

FSEP is at 8.36% YTD. There are 44 ETFs in the Options Trading category with higher YTD returns, going as high as 90.29%.

SymbolNameYTD ReturnAUMInception
AMDY
YieldMax AMD Option Income Strategy ETF
90.29%
382.78MSep 2023FSEP vs AMDY
USOY
Defiance Oil Enhanced Options Income ETF
44.25%
64.41MMay 2024FSEP vs USOY
LITL
Simplify Piper Sandler US Small-Cap PLUS Income ET...
17.71%
6.72MApr 2025FSEP vs LITL
IWMY
Defiance R2000 Weekly Distribution ETF
15.27%
95.57MOct 2023FSEP vs IWMY
DIVN
Horizon Dividend Income ETF
14.73%
—Jun 2025FSEP vs DIVN

Lowest Volatility Alternatives to FSEP

FSEP has 7.69% 1-year volatility. There are 87 ETFs in the Options Trading category with lower 1-year volatility, going as low as 1.30%.

SymbolNameVolatility 1YAUMInception
LAPR
Innovator Premium Income 15 Buffer ETF - April1.30%—Mar 2024FSEP vs LAPR
CAOS
Alpha Architect Tail Risk ETF1.57%709.87MAug 2013FSEP vs CAOS
APRJ
Innovator Premium Income 30 Barrier ETF - April1.57%32.22MMar 2023FSEP vs APRJ
JULJ
Innovator Premium Income 30 Barrier ETF - July1.68%13.68MJun 2023FSEP vs JULJ
XIMR
FT Vest U.S. Equity Buffer & Premium Income ETF - ...2.06%—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%
32.22MMar 2023FSEP vs APRJ
JULJ
Innovator Premium Income 30 Barrier ETF - July
-0.61%
13.68MJun 2023FSEP vs JULJ
CAOS
Alpha Architect Tail Risk ETF
-0.76%
709.87MAug 2013FSEP vs CAOS
APRW
AllianzIM U.S. Large Cap Buffer20 Apr ETF
-0.89%
199.47MMay 2020FSEP vs APRW

Other ETFs from FT Vest

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

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
RDVI
FT Vest Rising Dividend Achievers Target Income ET...Derivative Income
89
17.72%
3.59BOct 2022FSEP vs RDVI
BGLD
FT Vest Gold Strategy Quarterly Buffer ETFDefined Outcome, Gold, Precious Metals
25
-3.76%
50.90MJan 2021FSEP vs BGLD
BUFD
FT Vest Laddered Deep Buffer ETFDefined Outcome
92
6.44%
1.97BJan 2021FSEP vs BUFD
BUFQ
FT Vest Laddered Nasdaq Buffer ETFNasdaq-100, Options Trading
81
8.37%
1.51BJun 2022FSEP vs BUFQ
FOCT
FT Vest U.S. Equity Buffer ETF - OctoberDefined Outcome
88
8.24%
1.17BOct 2020FSEP vs FOCT
FDND
FT Vest Dow Jones Internet & Target Income ETFTechnology Equities
15
3.80%
—Mar 2024FSEP vs FDND
DOGG
FT Vest DJIA Dogs 10 Target Income ETFDerivative Income
72
11.00%
88.80MApr 2023FSEP vs DOGG
FFEB
FT Vest U.S. Equity Buffer ETF - FebruaryDefined Outcome
89
9.10%
1.39BFeb 2020FSEP vs FFEB
DDEC
FT Vest U.S. Equity Deep Buffer ETF - DecemberDefined Outcome
91
6.31%
430.27MDec 2020FSEP vs DDEC
GMAR
FT Cboe Vest U.S. Equity Moderate Buffer ETF - Mar...Options Trading
97
9.11%
393.02MMar 2023FSEP vs GMAR

Often Compared With FSEP

Investors most often compare FSEP with FAPR, BUFG, DJUL. These 20 comparison targets span 6 categories, based on PortfoliosLab usage data.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
FAPR
FT Vest U.S. Equity Buffer ETF - AprilDefined Outcome
93
6.38%
1.27BApr 2021FSEP vs FAPR
BUFG
FT Cboe Vest Buffered Allocation Growth ETFOptions Trading
80
7.59%
326.67MOct 2021FSEP vs BUFG
DJUL
FT Cboe Vest U.S. Equity Deep Buffer ETF - JulyOptions Trading
88
6.83%
448.12MJul 2020FSEP vs DJUL
FDEC
FT Vest U.S. Equity Buffer ETF - DecemberDefined Outcome
88
7.80%
1.33BDec 2020FSEP vs FDEC
XAPR
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer...Options Trading
97
4.58%
—Apr 2024FSEP vs XAPR
DAUG
FT Vest U.S. Equity Deep Buffer ETF - AugustDefined Outcome
87
6.87%
372.25MNov 2019FSEP vs DAUG
LQTI
FT Vest Investment Grade & Target Income ETFDerivative Income, Investment Grade Bonds
15
-1.43%
273.02MFeb 2025FSEP vs LQTI
XISE
FT Cboe Vest U.S. Equity Buffer & Premium Income E...Options Trading
90
3.90%
35.81MSep 2023FSEP vs XISE
FMAR
FT Vest U.S. Equity Buffer ETF - MarchDefined Outcome
97
11.43%
1.14BMar 2021FSEP vs FMAR
QDEC
FT Vest Nasdaq-100 Buffer ETF – DecemberNasdaq-100, Defined Outcome
79
8.92%
683.14MDec 2020FSEP vs QDEC
XJUN
FT Vest U.S. Equity Enhance & Moderate Buffer ETF ...Defined Outcome
93
4.32%
137.19MJul 2021FSEP vs XJUN
GMAY
FT Cboe Vest U.S. Equity Moderate Buffer ETF - MayOptions Trading
84
5.42%
531.31MMay 2023FSEP vs GMAY
TDEC
FT Vest Emerging Markets Buffer ETF - DecemberDefined Outcome, Emerging Markets Equities
68
8.63%
10.25MDec 2024FSEP vs TDEC
GOCT
FT Cboe Vest U.S. Equity Moderate Buffer ETF - Oct...Options Trading
89
6.94%
262.42MOct 2023FSEP vs GOCT
LTTI
FT Vest 20+ Year Treasury & Target Income ETFDerivative Income
7
-3.71%
14.92MFeb 2025FSEP vs LTTI
DOCT
FT Vest U.S. Equity Deep Buffer ETF - OctoberDefined Outcome
91
6.67%
384.27MOct 2020FSEP vs DOCT
GDEC
FT Cboe Vest U.S. Equity Moderate Buffer ETF - Dec...Options Trading
88
6.48%
437.80MDec 2023FSEP vs GDEC
BUFZ
FT Cboe Vest Laddered Moderate Buffer ETFOptions Trading
91
6.26%
1.01BOct 2023FSEP vs BUFZ
DNOV
FT Vest U.S. Equity Deep Buffer ETF - NovemberDefined Outcome
93
6.29%
396.72MNov 2019FSEP vs DNOV
DMAR
FT Cboe Vest U.S. Equity Deep Buffer ETF - MarchOptions Trading
98
8.38%
455.73MMar 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