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

ETF · Currency in USD · Last updated Jul 14, 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%140.25MOct 2023FSEP vs PHEQ
XLRI
State Street Real Estate Select Sector SPDR Premiu...0.35%2.58MJul 2025FSEP vs XLRI
HEQT
Simplify Hedged Equity ETF0.43%300.35MNov 2021FSEP vs HEQT
ISWN
Amplify BlackSwan ISWN ETF0.49%36.25MJan 2021FSEP vs ISWN
IVVB
iShares Large Cap Deep Buffer ETF0.50%126.98MJun 2023FSEP vs IVVB

Best Risk-Adjusted Alternatives to FSEP

FSEP has a PortfoliosLab risk / return rank of 77. There are 83 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
32.26MMar 2023FSEP vs APRJ
APRW
AllianzIM U.S. Large Cap Buffer20 Apr ETF
98
190.94MMay 2020FSEP vs APRW
PBAP
PGIM US Large-Cap Buffer 20 ETF - April
98
—Mar 2024FSEP vs PBAP
XIMR
FT Vest U.S. Equity Buffer & Premium Income ETF - ...
98
—Mar 2024FSEP vs XIMR

Top Performing FSEP Alternatives (YTD)

FSEP is at 7.29% YTD. There are 38 ETFs in the Options Trading category with higher YTD returns, going as high as 109.12%.

SymbolNameYTD ReturnAUMInception
AMDY
YieldMax AMD Option Income Strategy ETF
109.12%
443.39MSep 2023FSEP vs AMDY
QQQY
Defiance Nasdaq 100 Enhanced Options Income ETF
15.28%
190.88MSep 2023FSEP vs QQQY
KQQQ
Kurv Technology Titans Select ETF
14.52%
100.42MJul 2024FSEP vs KQQQ
IWMY
Defiance R2000 Weekly Distribution ETF
14.09%
98.05MOct 2023FSEP vs IWMY
QDTE
Roundhill Innovation-100 0DTE Covered Call Strateg...
13.13%
923.83MMar 2024FSEP vs QDTE

Lowest Volatility Alternatives to FSEP

FSEP has 7.58% 1-year volatility. There are 88 ETFs in the Options Trading category with lower 1-year volatility, going as low as 1.27%.

SymbolNameVolatility 1YAUMInception
LAPR
Innovator Premium Income 15 Buffer ETF - April1.27%—Mar 2024FSEP vs LAPR
APRJ
Innovator Premium Income 30 Barrier ETF - April1.56%32.26MMar 2023FSEP vs APRJ
CAOS
Alpha Architect Tail Risk ETF1.56%668.40MAug 2013FSEP vs CAOS
JULJ
Innovator Premium Income 30 Barrier ETF - July1.56%13.64MJun 2023FSEP vs JULJ
XIMR
FT Vest U.S. Equity Buffer & Premium Income ETF - ...2.04%—Mar 2024FSEP vs XIMR

Lowest Drawdown Alternatives to FSEP

FSEP has a 1-year max drawdown of -5.62%. There are 86 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%
32.26MMar 2023FSEP vs APRJ
JULJ
Innovator Premium Income 30 Barrier ETF - July
-0.61%
13.64MJun 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%
190.94MMay 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 $3B.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
BGLD
FT Vest Gold Strategy Quarterly Buffer ETFDefined Outcome, Gold, Precious Metals
19
-4.89%
51.07MJan 2021FSEP vs BGLD
RDVI
FT Cboe Vest Rising Dividend Achievers Target Inco...Derivative Income
76
14.90%
3.49BOct 2022FSEP vs RDVI
BUFQ
FT Vest Laddered Nasdaq Buffer ETFNasdaq-100, Options Trading
81
8.57%
1.52BJun 2022FSEP vs BUFQ
BUFD
FT Vest Laddered Deep Buffer ETFDefined Outcome
89
5.59%
1.93BJan 2021FSEP vs BUFD
FOCT
FT Vest U.S. Equity Buffer ETF - OctoberDefined Outcome
82
7.19%
1.16BOct 2020FSEP vs FOCT
FDND
FT Vest Dow Jones Internet & Target Income ETFTechnology Equities
10
0.64%
—Mar 2024FSEP vs FDND
DOGG
FT Vest DJIA Dogs 10 Target Income ETFDerivative Income
56
9.21%
77.70MApr 2023FSEP vs DOGG
FFEB
FT Vest U.S. Equity Buffer ETF - FebruaryDefined Outcome
85
8.10%
1.38BFeb 2020FSEP vs FFEB
DDEC
FT Vest U.S. Equity Deep Buffer ETF - DecemberDefined Outcome
88
5.49%
429.01MDec 2020FSEP vs DDEC
GMAR
FT Cboe Vest U.S. Equity Moderate Buffer ETF - Mar...Options Trading
97
8.38%
395.71MMar 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
74
6.78%
327.56MOct 2021FSEP vs BUFG
FAPR
FT Vest U.S. Equity Buffer ETF - AprilDefined Outcome
93
5.45%
1.27BApr 2021FSEP vs FAPR
DJUL
FT Cboe Vest U.S. Equity Deep Buffer ETF - JulyOptions Trading
87
5.70%
407.25MJul 2020FSEP vs DJUL
FDEC
FT Vest U.S. Equity Buffer ETF - DecemberDefined Outcome
84
6.78%
1.32BDec 2020FSEP vs FDEC
XAPR
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer...Options Trading
96
3.80%
—Apr 2024FSEP vs XAPR
DAUG
FT Vest U.S. Equity Deep Buffer ETF - AugustDefined Outcome
84
6.00%
368.43MNov 2019FSEP vs DAUG
LQTI
FT Vest Investment Grade & Target Income ETFDerivative Income
24
-0.81%
289.72MFeb 2025FSEP vs LQTI
XISE
FT Cboe Vest U.S. Equity Buffer & Premium Income E...Options Trading
89
3.57%
36.48MSep 2023FSEP vs XISE
FMAR
FT Vest U.S. Equity Buffer ETF - MarchDefined Outcome
97
10.48%
1.13BMar 2021FSEP vs FMAR
QDEC
FT Vest Nasdaq-100 Buffer ETF – DecemberNasdaq-100, Defined Outcome
79
8.89%
696.94MDec 2020FSEP vs QDEC
XJUN
FT Vest U.S. Equity Enhance & Moderate Buffer ETF ...Defined Outcome
92
3.49%
140.53MJul 2021FSEP vs XJUN
GMAY
FT Cboe Vest U.S. Equity Moderate Buffer ETF - MayOptions Trading
81
4.53%
528.37MMay 2023FSEP vs GMAY
TDEC
FT Vest Emerging Markets Buffer ETF - DecemberDefined Outcome, Emerging Markets Equities
60
7.07%
10.25MDec 2024FSEP vs TDEC
DNOV
FT Vest U.S. Equity Deep Buffer ETF - NovemberDefined Outcome
91
5.46%
396.23MNov 2019FSEP vs DNOV
BUFZ
FT Cboe Vest Laddered Moderate Buffer ETFOptions Trading
88
5.39%
1.00BOct 2023FSEP vs BUFZ
GOCT
FT Cboe Vest U.S. Equity Moderate Buffer ETF - Oct...Options Trading
86
6.08%
263.17MOct 2023FSEP vs GOCT
DOCT
FT Vest U.S. Equity Deep Buffer ETF - OctoberDefined Outcome
87
5.76%
383.77MOct 2020FSEP vs DOCT
DMAR
FT Cboe Vest U.S. Equity Deep Buffer ETF - MarchOptions Trading
97
7.71%
451.61MMar 2021FSEP vs DMAR
GDEC
FT Cboe Vest U.S. Equity Moderate Buffer ETF - Dec...Options Trading
84
5.62%
441.68MDec 2023FSEP vs GDEC
LTTI
FT Vest 20+ Year Treasury & Target Income ETFDerivative Income
12
-2.17%
15.29MFeb 2025FSEP vs LTTI

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