XOCT vs. FSEP

Last updated Jun 4, 2026

XOCT (FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - October) and FSEP (FT Cboe Vest U.S. Equity Buffer ETF - September) are both Options Trading funds from FT Vest. XOCT is actively managed, while FSEP is passively managed. Over the past year, XOCT returned 12.27% vs 17.62% for FSEP. Their correlation of 0.88 suggests significant overlap in exposure. Both charge a 0.85% expense ratio.

Performance

XOCT vs. FSEP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - October (XOCT) and FT Cboe Vest U.S. Equity Buffer ETF - September (FSEP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XOCT achieves a 4.34% return, which is significantly lower than FSEP's 6.56% return.

XOCT

• 1D: -0.06%
• 1M: 1.49%
• YTD: 4.34%
• 6M: 5.08%
• 1Y: 12.27%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FSEP

• 1D: -0.22%
• 1M: 2.58%
• YTD: 6.56%
• 6M: 7.03%
• 1Y: 17.62%
• 3Y*: 14.44%
• 5Y*: 10.07%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

XOCT vs. FSEP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
XOCT FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - October	4.34%	10.30%	7.00%	5.58%
FSEP FT Cboe Vest U.S. Equity Buffer ETF - September	6.56%	12.83%	13.56%	9.62%

Correlation

The correlation between XOCT and FSEP is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (All Time) Calculated using the full available price history since Oct 24, 2023	0.88

The correlation between XOCT and FSEP has been stable across timeframes, ranging from 0.88 to 0.93 - a consistent structural relationship.

XOCT vs. FSEP - Sectors Allocation Comparison

Sectors	XOCT	FSEP
Technology	36.2%	36.2%
Financial Services	11.9%	11.9%
Communication Services	10.9%	10.9%
Consumer Cyclical	10.1%	10.1%
Healthcare	8.4%	8.4%
Industrials	8.1%	8.1%
Consumer Defensive	4.9%	4.9%
Energy	3.5%	3.5%
Utilities	2.3%	2.3%
Real Estate	1.9%	1.9%
Basic Materials	1.8%	1.8%

Return for Risk

XOCT vs. FSEP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XOCT

XOCT Risk / Return Rank: 83
XOCT Sharpe Ratio Rank: 81
XOCT Sortino Ratio Rank: 87
XOCT Omega Ratio Rank: 90
XOCT Calmar Ratio Rank: 69
XOCT Martin Ratio Rank: 87

FSEP

FSEP Risk / Return Rank: 74
FSEP Sharpe Ratio Rank: 71
FSEP Sortino Ratio Rank: 75
FSEP Omega Ratio Rank: 77
FSEP Calmar Ratio Rank: 64
FSEP Martin Ratio Rank: 80

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

XOCT vs. FSEP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - October (XOCT) and FT Cboe Vest U.S. Equity Buffer ETF - September (FSEP). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	XOCT	FSEP	Difference
Sharpe ratio Return per unit of total volatility	2.59	2.36	+0.24
Sortino ratio Return per unit of downside risk	3.88	3.40	+0.48
Omega ratio Gain probability vs. loss probability	1.58	1.47	+0.12
Calmar ratio Return relative to maximum drawdown	3.40	3.15	+0.24
Martin ratio Return relative to average drawdown	18.33	15.90	+2.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XOCT vs. FSEP - Sharpe Ratio Comparison

The current XOCT Sharpe Ratio is 2.59, which is comparable to the FSEP Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of XOCT and FSEP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XOCT	FSEP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.59	2.36	+0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.94	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.53	1.10	+0.43

Drawdowns

XOCT vs. FSEP - Drawdown Comparison

The maximum XOCT drawdown since its inception was -10.00%, smaller than the maximum FSEP drawdown of -13.79%. Use the drawdown chart below to compare losses from any high point for XOCT and FSEP.

Drawdown Indicators

	XOCT	FSEP	Difference
Max Drawdown Largest peak-to-trough decline	-10.00%	-13.79%	+3.79%
Max Drawdown (1Y) Largest decline over 1 year	-3.63%	-5.62%	+1.99%
Max Drawdown (3Y) Largest decline over 3 years	—	-12.37%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-13.79%	—
Current Drawdown Current decline from peak	-0.06%	-0.22%	+0.16%
Average Drawdown Average peak-to-trough decline	-0.51%	-2.14%	+1.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.67%	1.11%	-0.44%

Volatility

XOCT vs. FSEP - Volatility Comparison

The current volatility for FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - October (XOCT) is 0.60%, while FT Cboe Vest U.S. Equity Buffer ETF - September (FSEP) has a volatility of 1.19%. This indicates that XOCT experiences smaller price fluctuations and is considered to be less risky than FSEP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XOCT	FSEP	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.60%	1.19%	-0.59%
Volatility (6M) Calculated over the trailing 6-month period	3.89%	5.79%	-1.90%
Volatility (1Y) Calculated over the trailing 1-year period	4.76%	7.52%	-2.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.97%	10.79%	-3.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.97%	10.54%	-3.57%

XOCT vs. FSEP - Expense Ratio Comparison

Both XOCT and FSEP have an expense ratio of 0.85%.

Dividends

XOCT vs. FSEP - Dividend Comparison

Neither XOCT nor FSEP has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XOCT and FSEP in my portfolio?

With a correlation of 0.93, XOCT and FSEP move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, XOCT or FSEP?

FSEP has higher volatility (1.19%) compared to XOCT (0.60%). In terms of maximum drawdown, XOCT dropped -10.00% vs FSEP's -13.79%.

Which ETF is better, XOCT or FSEP?

On 1-year performance, FSEP leads with 17.62% vs 12.27% for XOCT. Both ETFs have the same 0.85% expense ratio. On volatility, XOCT has been the lower-risk option at 0.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XOCT or FSEP?

Over the 1-year period, FSEP has performed better with a 17.62% return vs 12.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XOCT or FSEP?

XOCT and FSEP have the same expense ratio: 0.85% per year.

Which ETF pays a higher dividend yield, XOCT or FSEP?

XOCT and FSEP have nearly identical dividend yields, around 0.00%.

Which has better risk-adjusted returns?

XOCT currently has the higher Sharpe Ratio (2.59 vs 2.36), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.