Data as of Nov 4, 2026.
GAPR vs XAPR: Cap, Buffer & Days Left
As of Nov 4, 2026 GAPR can fall 5.9% before its buffer engages and XAPR 5.7%.
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Net assets on Nov 3, 2026: $293m for FT Vest U.S. Equity Moderate Buffer ETF - April and $52m for FT Vest U.S. Equity Enhance & Moderate Buffer ETF - April.
GAPR: reference +8.0% since period start, fund +5.4%; buffer 0 to −15; cap +12.3%; Between buffer and cap. Data to Nov 4, 2026.
GAPR: reference +8.0% since period start, fund +5.4%; buffer 0 to −15; cap +12.3%; Between buffer and cap. Data to Nov 4, 2026.XAPR: reference +8.0% since period start, fund +5.2%; buffer 0 to −15; cap +10.4%; Between buffer and cap. Data to Nov 4, 2026.
Data to Nov 4, 2026.Pair scorecard
Both cost 0.85% a year; their one-year returns differ by 0.6 points; GAPR is 5.6 times larger.
Points (pts) are percentage points.
| Measure | GAPR | XAPR |
|---|---|---|
| Return | ||
| Total return, 1 year | +8.7% | +8.1% |
| Drawdown | ||
| Index fall to the buffer | 7.4% | |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.85% | 0.85% |
| Net assets, as of Nov 3, 2026 | $293m | $52m |
| Holdings | ||
| Holdings in common | not published | |
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | GAPR | XAPR | GAPR | XAPR |
| 3 months | +1.2% | +1.5% | +1.6 pts | +1.9 pts |
| 6 months | +4.2% | +4.1% | −0.3 pts | −0.4 pts |
| 1 year | +8.7% | +8.1% | −4.8 pts | −5.5 pts |
| 3 years | +37.8% | – | −38.6 pts | – |
| Since launchNot the same days: GAPR Apr 2023 · XAPR Apr 2024 | +44.1% | +29.9% | −41.8 pts | −23.5 pts |
Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. – means no data for this window. Open this comparison in the app →
Side by side
As of Nov 4, 2026. Source: ETFIQ.
These are two different products. XAPR is a floor fund, which caps how far a holder can fall. GAPR is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.
Both are First Trust funds, so the difference between them is the terms rather than the house.
Where each one stands today
GAPR resets first, on Apr 16, 2027, 163 days from now; XAPR runs to Apr 16, 2027, 163 days. GAPR can still gain 5.8% before its cap, XAPR 4.1%. A fall from here reaches GAPR’s buffer after 5.9% and XAPR’s after 5.7%. Both track SPY, so what separates them is where each is in its own period.
GAPR
From its price on Nov 4, 2026, the fund can gain about 5.8% more before it reaches its cap. The fund's price can fall 5.9% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 7.4% from today's level to the point where the buffer begins. Protection left, in index points: 15.0% of the 15.0% buffer still sits below today's SPY level. 163 days remained on Nov 4, 2026. On Apr 16, 2027 the period ends and a new cap is set.
XAPR
From its price on Nov 4, 2026, the fund can gain about 4.1% more before it reaches its cap. The fund's price can fall 5.7% from here before the buffer starts absorbing losses, by the issuer's number.
Questions people ask
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How this is computed
ETFIQ calculates every number from each issuer’s published outcome-period terms. Buffer ETFs hold options on an index, not shares, so there is no holdings overlap to report.
Every number is an ETFIQ calculation with distributions reinvested.
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ETFIQ, GAPR against XAPR, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/gapr-vs-xapr
ETFIQ. (Nov 4, 2026). GAPR against XAPR. Retrieved from https://etfiq.com/compare/buffer/gapr-vs-xapr
[GAPR against XAPR (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/gapr-vs-xapr)
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