FT Vest Emerging Markets Buffer ETF - September (TSEP) belongs to the Defined Outcome category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with TSEP. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to TSEP
TSEP charges 0.95% annually. There are 296 ETFs in the Defined Outcome category with lower expense ratios, going as low as 0.25%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Aptus October Buffer ETF | 0.25% | — | Oct 2025 | TSEP vs OCTB | |
| Aptus July Buffer ETF | 0.25% | — | Oct 2025 | TSEP vs JULB | |
| Aptus April Buffer ETF | 0.25% | — | Oct 2025 | TSEP vs APRB | |
| Aptus January Buffer ETF | 0.25% | — | Oct 2025 | TSEP vs JANB | |
| Fidelity Dynamic Buffered Equity ETF | 0.48% | — | Apr 2024 | TSEP vs FBUF |
Best Risk-Adjusted Alternatives to TSEP
TSEP has a PortfoliosLab risk / return rank of 75. There are 187 ETFs in the Defined Outcome category with higher risk-adjusted ranks, going as high as 99.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | 99 | — | Mar 2025 | TSEP vs PMAP | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 98 | 21.00M | Apr 2025 | TSEP vs CPSP | |
| iShares Large Cap Max Buffer Mar ETF | 98 | — | Mar 2025 | TSEP vs MMAX | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | 98 | — | Apr 2025 | TSEP vs ZAPR | |
| Calamos Russell 2000 Structured Alt Protection ETF... | 98 | 13.20M | Apr 2025 | TSEP vs CPRA |
Top Performing TSEP Alternatives (YTD)
TSEP is at 9.32% YTD. There are 24 ETFs in the Defined Outcome category with higher YTD returns, going as high as 16.35%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Leverage Shares 2x Capped Accelerated NVDA Monthly... | 16.35% | — | Aug 2025 | TSEP vs NVDO | |
| ProShares Nasdaq-100 Dynamic Daily Buffer ETF | 13.84% | 2.87M | Jun 2025 | TSEP vs QB | |
| Innovator U.S. Small Cap Power Buffer ETF - Februa... | 13.73% | — | Jan 2025 | TSEP vs KFEB | |
| Innovator Russell 2000 Power Buffer ETF - April | 13.09% | 214.27M | Mar 2020 | TSEP vs KAPR | |
| FT Cboe Vest Nasdaq-100 Buffer ETF - March | 11.91% | 566.25M | Mar 2021 | TSEP vs QMAR |
Lowest Volatility Alternatives to TSEP
TSEP has 10.46% 1-year volatility. There are 262 ETFs in the Defined Outcome category with lower 1-year volatility, going as low as 1.18%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | 1.18% | — | Mar 2025 | TSEP vs PMAP | |
| FT Vest U.S. Equity Max Buffer ETF - April | 1.33% | — | Apr 2025 | TSEP vs APXM | |
| PGIM S&P 500 Max Buffer ETF - May | 1.40% | — | Apr 2025 | TSEP vs PMMY | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 1.40% | 21.00M | Apr 2025 | TSEP vs CPSP | |
| iShares Large Cap Max Buffer Mar ETF | 1.44% | — | Mar 2025 | TSEP vs MMAX |
Lowest Drawdown Alternatives to TSEP
TSEP has a 1-year max drawdown of -7.25%. There are 224 ETFs in the Defined Outcome category with shallower 1-year drawdowns, going as shallow as -0.35%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | -0.35% | — | Mar 2025 | TSEP vs PMAP | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | -0.37% | 21.00M | Apr 2025 | TSEP vs CPSP | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | -0.40% | — | Apr 2025 | TSEP vs ZAPR | |
| iShares Large Cap Max Buffer Mar ETF | -0.46% | — | Mar 2025 | TSEP vs MMAX | |
| Calamos S&P 500 Structured Alt Protection ETF - Ma... | -0.49% | 56.60M | May 2024 | TSEP vs CPSM |
Other ETFs from First Trust
The 10 most viewed First Trust ETFs shown here include CIBR, GRID, AIRR and span 16 categories. AUM among these funds goes as high as $14B.
Often Compared With TSEP
Investors most often compare TSEP with PMJL, BUFP, UXJL. These 20 comparison targets span 12 categories, based on PortfoliosLab usage data.
Compare TSEP with Any Fund or Stock
Compare TSEP with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair TSEP with funds that move differently
FT Vest Emerging Markets Buffer ETF - September alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to TSEP.
Explore TSEP Diversifiers