BUFR ETF — Holdings & Analysis

Equity Buffer ETFs, each targeting a specific month and offering a buffer against the first 10% of losses in the SPDR S&P 500 ETF Trust (SPY), up to a predetermined upside cap. With an expense ratio of 0.95%, BUFR offers a unique approach to managing downside risk while participating in market gains, differentiating itself through its laddered buffer strategy.

FT Vest Laddered Buffer ETF (BUFR) ETF — Price, Holdings & Analysis

The FT Vest Laddered Buffer ETF (BUFR) is a multi-asset ETF with $8.61 billion in assets under management. BUFR aims to provide capital appreciation by investing in a laddered portfolio of twelve FT Vest U.S. Equity Buffer ETFs, each targeting a specific month and offering a buffer against the first 10% of losses in the SPDR S&P 500 ETF Trust (SPY), up to a predetermined upside cap. With an expense ratio of 0.95%, BUFR offers a unique approach to managing downside risk while participating in market gains, differentiating itself through its laddered buffer strategy.

ETF Overview

The investment objective of the FT Vest Laddered Buffer ETF is to seek to provide investors with capital appreciation. The Fund seeks to achieve its investment objective by providing investors with US large cap equity market exposure while limiting downside risk through a laddered portfolio of twelve FT Vest U.S. Equity Buffer ETFs ("Underlying ETFs"). Under normal market conditions the Fund will invest substantially all of its assets in the Underlying ETFs , which seek to provide investors with returns (before fees, expenses and taxes) that match the price return of the SPDR S&P 500 ETF Trust ("SPY"), up to a predetermined upside cap, while providing a buffer against the first 10% (before fees, expenses and taxes) of SPY losses. The buffer is only provided by the Underlying ETFs. The Fund itself does not provide any buffer against losses. The Fund simply seeks to provide diversified exposure to all the Underlying ETFs in a single investment. In order to understand the Fund's strategy and risks, it is important to understand the strategies and risks of the Underlying ETFs.

The FT Vest Laddered Buffer ETF (BUFR) seeks capital appreciation by investing in a diversified portfolio of twelve FT Vest U.S. Equity Buffer ETFs. Each of these underlying ETFs corresponds to a specific month and aims to match the price return of the SPDR S&P 500 ETF Trust (SPY), while providing a buffer against the first 10% of SPY losses, up to a predetermined upside cap. BUFR diversifies its exposure across these monthly buffer ETFs, offering a single investment vehicle for accessing this strategy. The fund invests substantially all of its assets in these Underlying ETFs. As of 2026-03-15, the top holdings include FT Vest US Equity Buffer ETFs for April (FAPR) at 8.35%, May (FMAY) at 8.34%, and March (FMAR) at 8.34%. The fund's sector allocation is influenced by the underlying ETFs' investments, with significant exposure to Technology (33.7%), Financial Services (12.5%), and Communication Services (10.6%). BUFR is designed for investors seeking US large cap equity market exposure with a degree of downside protection.

Risk Metrics

BUFR's risk profile is shaped by its unique investment strategy. The fund's 0.95% expense ratio is higher than category averages, which can create a drag on performance over time. While the underlying ETFs provide a buffer against the first 10% of SPY losses, this buffer is capped, and the fund itself does not provide any additional buffer. The fund's beta of 0.63 (3Y) indicates lower volatility compared to the broader market. Sector concentration is present, with 33.7% allocated to Technology. As the fund invests solely in other ETFs, its performance is highly dependent on the performance and strategies of those underlying ETFs. Investors should understand the risks associated with capped upside and the lack of a direct buffer at the fund level. Past performance does not guarantee future results.

Expense Ratio

0.95%

What does BUFR hold?

Holding	Weight
FT Vest US Equity Buffer ETF Apr (FAPR)	8.35%
FT Vest US Equity Buffer ETF May (FMAY)	8.34%
FT Vest US Equity Buffer ETF Mar (FMAR)	8.34%
FT Vest US Equity Buffer ETF Sep (FSEP)	8.33%
FT Vest US Equity Buffer ETF Jun (FJUN)	8.33%
FT Vest US Equity Buffer ETF Dec (FDEC)	8.33%
FT Vest US Equity Buffer ETF Feb (FFEB)	8.33%
FT Vest US Equity Buffer ETF Aug (FAUG)	8.33%
FT Vest US Equity Buffer ETF Nov (FNOV)	8.33%
FT Vest US Equity Buffer ETF Jul (FJUL)	8.32%

How Is the Fund Allocated?

Sector	Weight
Technology	33.7%
Financial Services	12.5%
Communication Services	10.6%
Consumer Cyclical	10.1%
Healthcare	9.6%
Industrials	8.6%
Consumer Defensive	5.3%
Energy	3.4%
Utilities	2.4%
Real Estate	2.0%
Basic Materials	1.9%

Country	Weight
United States	100.0%
Other	0.0%

Dividend Yield

0.00%

JPMorgan Flexible Income ETF (JFLI) — 0.35% expense ratio
iShares LifePath Retirement ETF (IRTR) — 0.08% expense ratio
State Street Income Allocation ETF (INKM) — 0.50% expense ratio
VanEck Emerging Markets High Yield Bond ETF (HYEM) — 0.40% expense ratio
FT Vest U.S. Small Cap Moderate Buffer ETF - November (SNOV) — 0.90% expense ratio
FT Vest U.S. Equity Moderate Buffer ETF - June (GJUN) — 0.85% expense ratio
FT Vest U.S. Equity Deep Buffer ETF - March (DMAR) — 0.85% expense ratio
FT Vest U.S. Equity Enhance & Moderate Buffer ETF - December (XDEC) — 0.85% expense ratio

First Trust RiverFront Dynamic Emerging Markets ETF (RFEM) (International Equity) — 0.99% expense ratio
FT Energy Income Partners Enhanced Income ETF (EIPI) (Sector Equity) — 1.11% expense ratio
First Trust Europe AlphaDEX Fund (FEP) (International Equity) — 0.80% expense ratio
First Trust Emerging Markets Small Cap AlphaDEX Fund (FEMS) (International Equity) — 0.80% expense ratio
First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN) (Sector Equity) — 0.56% expense ratio
First Trust Developed Markets ex-US AlphaDEX Fund (FDT) (International Equity) — 0.80% expense ratio

Risk Metrics

Beta: 0.63

Questions & Answers

What is BUFR and what does it track?

The FT Vest Laddered Buffer ETF (BUFR) is a multi-asset ETF that aims to provide capital appreciation by investing in a laddered portfolio of twelve FT Vest U.S. Equity Buffer ETFs.

What is the expense ratio for BUFR?

The expense ratio for the FT Vest Laddered Buffer ETF (BUFR) is 0.95%. This means that for every $10,000 invested in the fund, $95 is deducted annually to cover operating expenses.

While this provides access to a unique laddered buffer strategy, the 0.95% expense ratio is higher than the category average for multi-asset ETFs.

What are the top holdings in BUFR?

As of 2026-03-15, the top holdings in the FT Vest Laddered Buffer ETF (BUFR) consist primarily of the underlying FT Vest U.S. Equity Buffer ETFs.

Is BUFR a good long-term investment?

Whether BUFR is a suitable long-term investment depends on an investor's individual risk tolerance, investment goals, and time horizon. BUFR's strategy of investing in laddered buffer ETFs aims to provide downside protection while participating in market gains.

The fund has a beta of 0.63 (3Y), indicating lower volatility compared to the S&P 500.

How does BUFR compare to similar ETFs?

BUFR differentiates itself through its unique laddered buffer strategy, investing in twelve FT Vest U.S. Equity Buffer ETFs, each targeting a specific month.

This approach provides a more granular level of downside protection compared to ETFs that offer quarterly or annual buffers. BUFR has $8.61 billion in AUM.

Does BUFR pay dividends?

According to the latest data, the FT Vest Laddered Buffer ETF (BUFR) has a dividend yield of 0.00%. This indicates that the fund does not currently distribute dividends to its shareholders.

The fund's investment strategy focuses on capital appreciation through buffered exposure to the S&P 500, rather than generating income through dividends. Investors seeking dividend income may want to consider other investment options.