# FT Vest U.S. Equity Enhance & Moderate Buffer ETF - September (XSEP): ETF Facts & Distributions

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- Issuer: First Trust · Asset class: Multi-Asset
- Strategy: Buffered · Inception: 2022-09-21

The FT Vest U.S. Equity Enhance & Moderate Buffer ETF - September (referred to as the "Fund") aims to offer investors a distinct return profile. Its objective is to provide roughly double the positive price appreciation of the SPDR S&P 500 ETF Trust (the "Underlying ETF"), with this upside limited to a predefined maximum gain of 9.58%. Concurrently, the Fund is designed to shield against the initial 15% of any losses incurred by the Underlying ETF. These financial outcomes are calculated prior to fees and expenses, and apply specifically to the term spanning from September 22, 2025, through...

## Key Facts

| Metric | Value |
|---|---|
| Price | $45.25 |
| Expense Ratio | 0.85% |
| Assets Under Management | $98.5M |
| NAV | $45.31 |
| Holdings Count | 5 |
| Distribution Yield (TTM) | — |
| Annual Distribution (TTM) | — /share |
| Distribution Frequency | — |
| 52-Week Range | $41.13 – $45.71 |
| Beta | 0.35 |

## Frequently Asked Questions

### What does XSEP invest in?

The FT Vest U.S. Equity Enhance & Moderate Buffer ETF - September (referred to as the "Fund") aims to offer investors a distinct return profile. Its objective is to provide roughly double the positive price appreciation of the SPDR S&P 500 ETF Trust (the "Underlying ETF"), with this upside limited to a predefined maximum gain of 9.58%. Concurrently, the Fund is designed to shield against the initial 15% of any losses incurred by the Underlying ETF. These financial outcomes are calculated prior to fees and expenses, and apply specifically to the term spanning from September 22, 2025, through September 18, 2026.

### What is the expense ratio of XSEP?

FT Vest U.S. Equity Enhance & Moderate Buffer ETF - September (XSEP) charges an expense ratio of 0.85%. This is the annual fee deducted from fund assets to cover management and operations.

### How big is XSEP?

FT Vest U.S. Equity Enhance & Moderate Buffer ETF - September (XSEP) manages $98.5M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation.

### Is XSEP actively managed or an index fund?

XSEP's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.

### When was XSEP launched?

FT Vest U.S. Equity Enhance & Moderate Buffer ETF - September (XSEP) launched in September 2022 and is managed by First Trust.

### How has XSEP performed?

XSEP's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.

### Does XSEP pay a dividend?

FT Vest U.S. Equity Enhance & Moderate Buffer ETF - September (XSEP) currently distributes little or no income. Trailing-twelve-month yield is —. Investors looking for income should consider income-focused alternatives. See the Peers tab.

### How often does XSEP pay dividends?

FT Vest U.S. Equity Enhance & Moderate Buffer ETF - September pays dividends on its published schedule. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page.

### What is XSEP's dividend yield?

XSEP's trailing-twelve-month yield is —, calculated from the sum of dividends over the past year divided by the current price.

### When is XSEP's next ex-dividend date?

XSEP hasn't announced its next ex-date yet. Once declared it'll appear at the top of the dividend history table on this page.

### How much will XSEP's expense ratio cost me over 30 years?

On a $10,000 investment compounding at 7% gross return, a 0.85% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees.

### How does XSEP charge its expense ratio?

The expense ratio is deducted in tiny daily slices from XSEP's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price.

### Why does XSEP cost more than a fund like VOO?

XSEP's strategy (current expense ratio 0.85%) is different from a broad-market index tracker like VOO, so its fee belongs to a different cohort. The Cost Verdict card above shows you where XSEP sits within its own category, which is the comparison that actually matters.

### Are there cheaper alternatives to XSEP?

The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as XSEP (0.85%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want.

## More on Dividend Data

- Overview (HTML): https://www.dividenddata.com/funds/xsep
- Distribution history: https://www.dividenddata.com/funds/xsep/dividend
- Holdings & diversification: https://www.dividenddata.com/funds/xsep/diversification
- Fees & cheaper alternatives: https://www.dividenddata.com/funds/xsep/expenses
- Peer comparison: https://www.dividenddata.com/funds/xsep/peers

Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.