Defined Outcome ETF Overview

Defined Outcome ETFs offer investors exposure to the price return of broad equity markets to a cap, with built-in downside buffer levels, over an outcome period of approximately one year, at which point each ETF will reset.

With 151 ETFs traded on the U.S. markets, Defined Outcome ETFs have total assets under management of $16.69B. The average expense ratio is 0.81%. Defined Outcome ETFs can be found in the following asset classes:

  • Equity
  • Commodities
  • Fixed Income

The largest Defined Outcome ETF is the FT Cboe Vest Fund of Buffer ETF BUFR with $715.57M in assets. In the last trailing year, the best-performing Defined Outcome ETF was BALT at 0.68%. The most recent ETF launched in the Defined Outcome space was the FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - September XSEP on 09/21/22.

Top ETF Performers

NVMZ TrueShares Structured Outcome ETF - November 1.78%
XSEP FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - September --
AZBO AllianzIM U.S. Large Cap Buffer20 Oct ETF -0.65%
PSFO Pacer Swan SOS Flex October ETF -0.75%
UNOV Innovator S&P 500 Ultra Buffer ETF - November -1.08%

Bottom ETF Performers

TSJA Innovator Triple Stacker ETF - January -11.17%
DSOC Innovator Double Stacker ETF -10.78%
DSJA Innovator Double Stacker ETF - January -10.75%
TSOC Innovator Triple Stacker ETF - October -10.75%
QSPT FT Cboe Vest Nasdaq-100 Buffer ETF - September -9.87%

Top Creations

PAUG Innovator U.S. Equity Power Buffer ETF - August 211.45
FAUG FT Cboe Vest U.S. Equity Buffer ETF - August 106.21
BAUG Innovator U.S. Equity Buffer ETF - August 76.82
DJUL FT Cboe Vest U.S. Equity Deep Buffer ETF - July 42.85
BUFD FT Cboe Vest Fund of Deep Buffer ETFs 42.83

Top Redemptions

FNOV FT Cboe Vest U.S. Equity Buffer ETF - November -43.74
BUFR FT Cboe Vest Fund of Buffer ETF -37.28
FDEC FT Cboe Vest U.S. Equity Buffer ETF - December -35.75
DSEP FT Cboe Vest U.S. Equity Deep Buffer ETF - September -19.01
SIXJ AllianzIM U.S. Large Cap 6 Month Buffer10 Jan/Jul ETF -16.88

AUM Winners

XSEP FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - September 200.63%
PSEP Innovator U.S. Equity Power Buffer ETF - September 103.68%
TFJL Innovator 20+ Year Treasury Bond 5 Floor ETF - Quarterly 80.62%
FSEP FT Cboe Vest U.S. Equity Buffer ETF - September 43.83%
YJUN FT Cboe Vest International Equity Buffer ETF - June 42.77%

AUM Losers

BUFG FT Cboe Vest Buffered Allocation Growth ETF -34.81%
PSFD Pacer Swan SOS Flex January ETF -28.47%
BGLD FT Cboe Vest Gold Strategy Quarterly Buffer ETF -26.50%
FMAR FT Cboe Vest U.S. Equity Buffer ETF - March -19.69%
PSCQ Pacer Swan SOS Conservative October ETF -19.37%

Features and News

Buffered ETFs Growing Quickly With Hedges on Losses

Gains capped in defined-outcome funds, which have seen assets climb.

Daily ETF Watch

Odds & Ends: ETF Closures Dominate the Week

There were several launches, but even more closures.

Daily ETF Watch

Latest Single-Stock ETF Offers Hedged Exposure

Innovator ETFs brings buffer strategy to single stocks.

Daily ETF Watch

ETF Odds & Ends: A Muted Holiday Week

The shortened week saw few launches.

Features and News

Defensive & Diversifying Strategies In 2022

Daily ETF Watch

First Trust Adds Laddered Nasdaq-100 Buffer ETF Strategy

The issuer also offers a similar fund that uses the strategy with SPY as the reference ETF.

Daily ETF Watch

ETF Odds & Ends: Pending Conversions

Plus, an actively managed ETF-of-ETFs and a digital health ETF launched during the week.

Daily ETF Watch

Filings Roundup: A Raft Of Unique Proposed ETFs

From mid-February to mid-March, the ETF industry saw a variety of filings land with the SEC.

Daily ETF Watch

Innovator Adds 2 ‘Step Up’ Buffer ETFs

The issuer’s newest funds re-create a strategy popular with investors in its defined outcome ETFs.