FAPR ETF — Holdings & Analysis

The FT Vest U.S. Equity Buffer ETF - April (FAPR) is a multi-asset ETF with approximately $1.00 billion in assets under management.

It aims to replicate the price return of the SPDR S&P 500 ETF Trust, with a capped upside of 18.14%, while buffering against the first 10% of losses. With an expense ratio of 0.85%, FAPR seeks to provide a defined outcome strategy, targeting investors looking for market participation with downside protection over a specific period from April 21, 2025 to April 17, 2026.

FT Vest U.S. Equity Buffer ETF - April (FAPR) ETF — Price, Holdings & Analysis

The FT Vest U.S. Equity Buffer ETF - April (FAPR) is a multi-asset ETF with approximately $1.00 billion in assets under management. It aims to replicate the price return of the SPDR S&P 500 ETF Trust, with a capped upside of 18.14%, while buffering against the first 10% of losses. With an expense ratio of 0.85%, FAPR seeks to provide a defined outcome strategy, targeting investors looking for market participation with downside protection over a specific period from April 21, 2025 to April 17, 2026.

ETF Overview

The investment objective of the FT Vest U.S. Equity Buffer ETF - April (the "Fund") is to seek to provide investors with returns (before fees and expenses) that match the price return of the SPDR S&P 500 ETF Trust (the "Underlying ETF"), up to a predetermined upside cap of 18.14% while providing a buffer (before fees and expenses) against the first 10% of Underlying ETF losses, over the period from April 21, 2025 to April 17, 2026.

FAPR, the FT Vest U.S. Equity Buffer ETF - April, employs a strategy designed to provide investors with exposure to the SPDR S&P 500 ETF Trust's price return, subject to a predetermined upside cap and a downside buffer. Specifically, FAPR seeks to match the returns of the SPDR S&P 500 ETF Trust up to a cap of 18.14% while protecting against the first 10% of losses. This defined outcome strategy is achieved through holding a portfolio of investments that provide exposure to the S&P 500. The ETF's sector allocation mirrors that of the S&P 500, with significant exposure to Technology (33.6%), Financial Services (12.5%), and Communication Services (10.5%). This ETF is designed for investors seeking a balance between market participation and risk mitigation over a defined period, from April 21, 2025 to April 17, 2026.

Risk Metrics

FAPR's risk profile is shaped by its defined outcome strategy. While the 10% downside buffer mitigates some losses, the 18.14% upside cap limits potential gains. The ETF's expense ratio of 0.85% can create a drag on performance, especially in periods of lower returns. Sector concentration is also a factor, with 33.6% of the portfolio allocated to Technology. The fund's beta of 0.50 indicates lower volatility compared to the broader market, but this also means it may underperform during strong market rallies. these may be worth researching factors when evaluating FAPR's suitability for their portfolios.

Expense Ratio

0.85%

How Is the Fund Allocated?

Sector	Weight
Technology	33.6%
Financial Services	12.5%
Communication Services	10.5%
Consumer Cyclical	10.1%
Healthcare	9.6%
Industrials	8.6%
Consumer Defensive	5.3%
Energy	3.4%
Utilities	2.5%
Real Estate	2.0%
Basic Materials	1.9%

Country	Weight
Other	100.0%

Dividend Yield

0.00%

JPMorgan Flexible Income ETF (JFLI) — 0.35% expense ratio
iShares LifePath Retirement ETF (IRTR) — 0.08% expense ratio
FT Vest Laddered Buffer ETF (BUFR) — 0.95% expense ratio
State Street Income Allocation ETF (INKM) — 0.50% 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. Small Cap Moderate Buffer ETF - November (SNOV) — 0.90% expense ratio
FT Vest High Yield & Target Income ETF (HYTI) — 0.65% 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: 0.50

Questions & Answers

What is FAPR and what does it track?

FAPR, or the FT Vest U.S. Equity Buffer ETF - April, is a multi-asset ETF managed by First Trust.

It aims to provide investors with returns that correspond to the price return of the SPDR S&P 500 ETF Trust, up to a predetermined upside cap of 18.14%, while providing a buffer against the first 10% of losses.

What is the expense ratio for FAPR?

The expense ratio for FAPR is 0.85%. This means that for every $10,000 invested in the fund, $85 is used to cover annual operating expenses. While this provides the defined outcome strategy, it is higher than some broad market ETFs.

Investors should consider the expense ratio as part of their overall investment decision, as it can impact net returns over time.

What are the top holdings in FAPR?

As a buffered ETF, FAPR's holdings are designed to provide exposure to the S&P 500 while achieving its defined outcome. While the ETF's specific holdings data is not available, it is designed to track the SPDR S&P 500 ETF Trust.

The ETF's sector allocation mirrors that of the S&P 500, with significant exposure to Technology (33.6%), Financial Services (12.5%), and Communication Services (10.5%).

Is FAPR a good long-term investment?

FAPR is designed with a specific outcome and time horizon in mind, from April 21, 2025 to April 17, 2026. Its strategy of providing a capped upside and downside buffer resets annually.

The fund's beta of 0.50 suggests lower volatility compared to the S&P 500. Investors should carefully consider whether FAPR's defined outcome strategy aligns with their long-term investment goals and risk tolerance. Past performance does not guarantee future results.

How does FAPR compare to similar ETFs?

FAPR competes with other defined outcome ETFs that offer similar strategies with varying caps, buffers, and target periods. FAPR has an AUM of $1.00 billion and an expense ratio of 0.85%.

Investors should compare FAPR's cap, buffer, target period, and expense ratio to those of competing ETFs to determine which fund best aligns with their investment objectives.

Does FAPR pay dividends?

According to the available data, FAPR has a dividend yield of 0.00%. This suggests that the fund does not currently distribute dividends to its shareholders.

Investors seeking income-generating investments may want to consider other ETFs with a history of dividend payments. However, the primary objective of FAPR is to provide a defined outcome based on the performance of the SPDR S&P 500 ETF Trust, rather than to generate income.