XSEP FT Vest U.S. Equity Enhance & Moderate Buffer ETF - September
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FT Vest U.S. Equity Enhance & Moderate Buffer ETF - September (XSEP) ETF
No description available.
- Exchange
- BATS
- Inception
- 2022-09-21
- Has Options
- No
- Expense ratio
- 0.85% prospectus, filed Dec 29, 2025
- Assets
- $99M issuer-reported, Oct 20, 2026
- Trailing yield
- —
- Average daily volume
- $1.4M 30 sessions
- Holdings
- 6 top 10 are 112.0%
- Listed
- Sep 21, 2022 Cboe BZX
- Net asset value
- $45.50 issuer, Oct 20, 2026
- Reference asset
- SPY period ends Sep 17, 2027 (330 days)
- Cap, full period
- 5.6% before fees
- Buffer, full period
- 15.0% first losses absorbed
- Reference since start
- +1.5% $773.09 on Oct 21, 2026
- Upside left to the cap
- 4.0% for a buyer today
- Drop before the buffer starts
- 1.5% unprotected from here
Moves with. US large-cap stocks (76% of its variance, beta 0.32); High yield over Treasuries (6% of its variance, beta 0.20). These factors explain 82% of its daily moves over the last year.
Stated objective. The investment objective of the FT Vest U.S. Equity Enhance & Moderate Buffer ETF September (the Fund ) is to seek to provide investors with returns (before fees and expenses) of approximately twice any positive price return of the SPDR S&P 500 ETF Trust (the Underlying ETF ), up to a predetermined upside cap of 9.58% while providing a buffer (before fees and expenses) against the first 15% of Underlying ETF losses, over the period from September 22, 2025 through September 18, 2026. (from the fund's prospectus)
- May 2026
- −$1.1M latest reported month
- Latest 3 months
- +$19M +15.2% of assets
- Latest 12 months
- −$14M −11.6% of assets
View as a table
| Month | Net flow |
|---|---|
| May 2026 | −$1.1M |
| Apr 2026 | $0 |
| Mar 2026 | +$20M |
| Feb 2026 | −$3.2M |
| Jan 2026 | $0 |
| Dec 2025 | −$2.1M |
| Nov 2025 | $0 |
| Oct 2025 | +$2.1M |
| Sep 2025 | −$27M |
| Aug 2025 | +$1.0M |
| Jul 2025 | −$4.1M |
| Jun 2025 | $0 |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 45 months ago
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| BUFRFT Vest Laddered Buffer ETF | — | 0.95% | $10.9B | +12.7% | compare |
| BALTInnovator Defined Wealth Shield ETF | — | 0.69% | $3.2B | +6.7% | compare |
| BUFDFT Vest Laddered Deep Buffer ETF | — | 0.95% | $2.2B | +10.4% | compare |
| BUFQFT Vest Laddered Nasdaq Buffer ETF | — | 1.00% | $1.7B | +14.8% | compare |
| FJANFT Vest U.S. Equity Buffer ETF - January | — | 0.85% | $1.5B | +13.4% | compare |
The largest other funds in the Buffer category.
- Authorized participants
- 4 active of 22 with agreements; top 3 did 98%
- Created · redeemed
- $80M · $113M over the fiscal year
- Redemptions in kind
- 0% creations 0% in kind
- Creation unit
- 25,000 shares
- Securities lending
- authorized, none lent
- Diversification status
- Non-diversified may concentrate in fewer issuers
From the fund's annual census filing with the SEC. In-kind redemptions are what let an ETF shed appreciated securities without realising gains.
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| — | 2027-09-17 State Street® SPDR® S&P 500® ETF Trust C 7.69 | 98.44% | Derivative | — |
| — | 2027-09-17 State Street® SPDR® S&P 500® ETF Trust C 761.69 | 9.05% | Derivative | — |
| — | 2027-09-17 State Street® SPDR® S&P 500® ETF Trust P 761.77 | 4.56% | Derivative | — |
| — | US Dollar | 1.08% | Cash/Money Market | — |
| — | 2027-09-17 State Street® SPDR® S&P 500® ETF Trust P 647.51 | -1.86% | Derivative | — |
| — | 2027-09-17 State Street® SPDR® S&P 500® ETF Trust C 804.34 | -11.27% | Derivative | — |
| Category | Weight | Value | Positions |
|---|---|---|---|
| Derivative (equity) | 99.54% | $123.4M | 20 |
| Short-term investment | 0.53% | $658372 | 1 |
| Month | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|
| Jan | -- | 3.92% | 1.15% | 1.27% | 0.57% | 1.73% |
| Feb | -- | -1.00% | 1.18% | 0.16% | -0.28% | 0.01% |
| Mar | -- | 2.21% | 0.68% | -1.15% | -1.77% | -0.01% |
| Apr | -- | 1.04% | -0.09% | -0.59% | 3.74% | 1.03% |
| May | -- | 0.77% | 1.31% | 2.91% | 1.27% | 1.56% |
| Jun | -- | 1.89% | 0.57% | 1.85% | 0.37% | 1.17% |
| Jul | -- | 0.59% | 0.53% | 1.09% | 0.65% | 0.72% |
| Aug | -- | 0.65% | 0.67% | 1.36% | 0.52% | 0.80% |
| Sep | -2.19% | -1.40% | 0.70% | 0.57% | 0.51% | -0.36% |
| Oct | 2.34% | -0.84% | -0.08% | 0.36% | 0.64%* | 0.48% |
| Nov | 2.88% | 3.92% | 2.00% | 0.40% | -- | 2.30% |
| Dec | -1.37% | 1.50% | -0.45% | 0.87% | -- | 0.14% |
| Total | 1.57% | 13.90% | 8.46% | 9.42% | 6.31% | 7.93% |
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
Momentum Oscillators
Volume & Volatility
Data Summary
LLM Stock Analysis Report: XSEP
Executive Summary
Overall Assessment: NEUTRAL (Confidence Level: 6/10)
Key Drivers:
- Strong technical momentum, with MACD bullish crossover
- Overbought RSI indicates potential for near-term consolidation or correction
- Low volatility and positive correlation with market suggest reduced risk
Primary Risks:
- High expectations from investors could lead to a price correction if earnings don't meet projections
- Regulatory changes in the industry could impact XSEP's performance
Investment Thesis: XSEP is likely to experience short-term consolidation due to overbought conditions, but its strong technical momentum and low volatility suggest it remains a relatively safe bet.
Recent News Sentiment Impact: No recent news headlines available, which may contribute to the neutral assessment.
Technical Analysis
Trend Direction: Short-term (1-4 weeks): Bullish; Medium-term (1-3 months): Bullish; Long-term (3-12 months): Bullish
Support/Resistance Levels:
- SMA 50: $43.17
- SMA 20: $43.93
- Bollinger Bands Upper: $44.26
- Bollinger Bands Middle: $43.93
- Bollinger Bands Lower: $43.60
Momentum Signals:
- MACD: Bullish crossover above signal line (0.25 / -0.01 / 0.26)
- RSI: Overbought (>70), potential for near-term consolidation or correction
News & Sentiment Analysis
Recent Headlines Summary: No recent news headlines available.
Sentiment Assessment: Neutral, as no news is driving sentiment.
Catalyst Identification: Earnings information not available, but regulatory changes in the industry could impact XSEP's performance.
Market Narrative: The market narrative is neutral, with no clear trends or catalysts driving sentiment.
Risk & Volatility Assessment
Beta Interpretation: Low risk relative to market (beta 0.38).
Volatility Regime: Current volatility is low compared to historical levels.
Options Market Signals:
- IV Rank: N/A
- Put/Call Ratios: No data available
- Unusual Activity: No data available
Market Context & Positioning
Sector Performance: XSEP's sector is performing moderately well, with a relatively strong trend.
Institutional Activity: Institutional activity suggests cautious optimism, with low volume and moderate buying pressure.
Correlation Analysis: XSEP has a high correlation (0.93) with the market, indicating it moves similarly to the broader indices.
Relative Valuation: XSEP is trading within its historical range, suggesting relatively fair value.
Key Levels & Action Items
Critical Price Levels:
- SMA 50: $43.17
- Bollinger Bands Upper: $44.26
- Bollinger Bands Lower: $43.60
Breakout/Breakdown Levels: No clear levels available, but the upper Bollinger Band ($44.26) may serve as a potential resistance level.
Time-Sensitive Catalysts: Earnings information not available, but regulatory changes in the industry could impact XSEP's performance.
Risk Management: Stop-loss levels should be set at the SMA 50 ($43.17), and position sizing considerations should prioritize low-risk entry points.
Please note that this analysis is based on the provided data and does not take into account any additional information or context.
XSEP Options Activity & IV Rank
Each spread is ranked by a composite score built in three stages. Full documentation →
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Enter a ticker to scan for optimal spread opportunities.
Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Enter a ticker to render the implied volatility surface.
Enter a ticker to render the implied volatility smile.
Risk Metrics
Analysis Details
Data Points: 250
Period: 252 trading days
Low volatility - stock moves less than market
XSEP Institutional Ownership (13F)
Latest filings — 2026-09-30Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
| # | Filer | Notional Value | % of Total | Period |
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| # | Filer | Notional Value | % of Total | Period |
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