YSEP vs. FOCT

Last updated Jun 4, 2026

YSEP (FT Cboe Vest International Equity Buffer ETF - September) and FOCT (FT Vest U.S. Equity Buffer ETF - October) are both exchange-traded funds - YSEP is a Options Trading fund actively managed by FT Vest, while FOCT is a Defined Outcome fund actively managed by FT Vest. Both are actively managed. Over the past 3 years, YSEP returned 11.45%/yr vs 12.77%/yr for FOCT. A 0.71 correlation means they provide meaningful diversification when combined. YSEP charges 0.90%/yr vs 0.85%/yr for FOCT.

Performance

YSEP vs. FOCT - Performance Comparison

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

Returns By Period

In the year-to-date period, YSEP achieves a 4.71% return, which is significantly lower than FOCT's 6.65% return.

YSEP

• 1D: -0.48%
• 1M: 1.71%
• YTD: 4.71%
• 6M: 5.91%
• 1Y: 13.62%
• 3Y*: 11.45%
• 5Y*: —
• 10Y*: —

FOCT

• 1D: -0.23%
• 1M: 2.64%
• YTD: 6.65%
• 6M: 7.15%
• 1Y: 20.11%
• 3Y*: 12.77%
• 5Y*: 9.14%
• 10Y*: —

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

YSEP vs. FOCT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
YSEP FT Cboe Vest International Equity Buffer ETF - September	4.71%	19.88%	4.63%	15.48%	-9.75%	-0.50%
FOCT FT Vest U.S. Equity Buffer ETF - October	6.65%	14.92%	9.62%	17.81%	-7.59%	4.41%

Correlation

The correlation between YSEP and FOCT is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (All Time) Calculated using the full available price history since Sep 21, 2021	0.71

The correlation between YSEP and FOCT shifts across timeframes, from 0.64 (3 years) to 0.74 (1 year), reflecting how their relationship changes across market environments.

YSEP vs. FOCT - Sectors Allocation Comparison

Sectors	YSEP	FOCT
Financial Services	24.2%	11.9%
Industrials	18.9%	8.1%
Healthcare	11.2%	8.4%
Technology	9.0%	36.2%
Consumer Cyclical	8.9%	10.1%
Consumer Defensive	7.8%	4.9%
Communication Services	5.8%	10.9%
Basic Materials	5.6%	1.8%
Energy	3.3%	3.5%
Utilities	3.3%	2.3%
Real Estate	2.0%	1.9%

Return for Risk

YSEP vs. FOCT — Risk / Return Rank

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

YSEP

YSEP Risk / Return Rank: 52
YSEP Sharpe Ratio Rank: 50
YSEP Sortino Ratio Rank: 51
YSEP Omega Ratio Rank: 51
YSEP Calmar Ratio Rank: 51
YSEP Martin Ratio Rank: 58

FOCT

FOCT Risk / Return Rank: 79
FOCT Sharpe Ratio Rank: 77
FOCT Sortino Ratio Rank: 81
FOCT Omega Ratio Rank: 81
FOCT Calmar Ratio Rank: 70
FOCT Martin Ratio Rank: 84

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.

YSEP vs. FOCT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest International Equity Buffer ETF - September (YSEP) and FT Vest U.S. Equity Buffer ETF - October (FOCT). 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.

	YSEP	FOCT	Difference
Sharpe ratio: Return per unit of total volatility	1.69	2.53	-0.84
Sortino ratio: Return per unit of downside risk	2.46	3.64	-1.18
Omega ratio: Gain probability vs. loss probability	1.31	1.49	-0.18
Calmar ratio: Return relative to maximum drawdown	2.52	3.52	-1.00
Martin ratio: Return relative to average drawdown	9.98	17.32	-7.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

YSEP vs. FOCT - Sharpe Ratio Comparison

The current YSEP Sharpe Ratio is 1.69, which is lower than the FOCT Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of YSEP and FOCT, 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

	YSEP	FOCT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.69	2.53	-0.84
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.83	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	0.98	-0.38

Drawdowns

YSEP vs. FOCT - Drawdown Comparison

The maximum YSEP drawdown since its inception was -22.58%, which is greater than FOCT's maximum drawdown of -14.07%. Use the drawdown chart below to compare losses from any high point for YSEP and FOCT.

Drawdown Indicators

	YSEP	FOCT	Difference
Max Drawdown Largest peak-to-trough decline	-22.58%	-14.07%	-8.51%
Max Drawdown (1Y) Largest decline over 1 year	-5.43%	-5.74%	+0.31%
Max Drawdown (3Y) Largest decline over 3 years	-8.75%	-13.06%	+4.31%
Max Drawdown (5Y) Largest decline over 5 years	—	-14.07%	—
Current Drawdown Current decline from peak	-0.48%	-0.23%	-0.25%
Average Drawdown Average peak-to-trough decline	-4.15%	-2.25%	-1.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.37%	1.16%	+0.21%

Volatility

YSEP vs. FOCT - Volatility Comparison

FT Cboe Vest International Equity Buffer ETF - September (YSEP) has a higher volatility of 2.13% compared to FT Vest U.S. Equity Buffer ETF - October (FOCT) at 1.22%. This indicates that YSEP's price experiences larger fluctuations and is considered to be riskier than FOCT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	YSEP	FOCT	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.13%	1.22%	+0.91%
Volatility (6M) Calculated over the trailing 6-month period	6.18%	5.94%	+0.24%
Volatility (1Y) Calculated over the trailing 1-year period	8.11%	7.99%	+0.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.41%	11.07%	+0.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.41%	10.89%	+0.52%

YSEP vs. FOCT - Expense Ratio Comparison

YSEP has a 0.90% expense ratio, which is higher than FOCT's 0.85% expense ratio.

Dividends

YSEP vs. FOCT - Dividend Comparison

Neither YSEP nor FOCT has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both YSEP and FOCT in my portfolio?

YSEP and FOCT have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, YSEP or FOCT?

YSEP has higher volatility (2.13%) compared to FOCT (1.22%). In terms of maximum drawdown, YSEP dropped -22.58% vs FOCT's -14.07%.

Which ETF is better, YSEP or FOCT?

On 3-year performance, FOCT leads with 12.77% vs 11.45% for YSEP. On fees, FOCT is cheaper at 0.85% per year. On volatility, FOCT has been the lower-risk option at 1.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, YSEP or FOCT?

Over the 3-year period, FOCT has performed better with a 12.77% return vs 11.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, YSEP or FOCT?

FOCT is cheaper with a 0.85% expense ratio, compared with 0.90% for YSEP.

Which ETF pays a higher dividend yield, YSEP or FOCT?

YSEP and FOCT have nearly identical dividend yields, around 0.00%.

What is the main difference between YSEP and FOCT?

YSEP is categorized as Options Trading, while FOCT is Defined Outcome. Their fees differ too: 0.90% for YSEP and 0.85% for FOCT.

Which has better risk-adjusted returns?

FOCT currently has the higher Sharpe Ratio (2.53 vs 1.69), 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.