BFAP FT Vest Bitcoin Strategy Floor15 ETF - April
Absorbs losses from 15.0% to 100.0% on CBTX and caps the gain at 26.8%, over a period ending Apr 9, 2027
As of Sep 11, 2026, BFAP sits between its buffer and its cap, with CBTX up 13.9% since the period began.
Key facts
371st of 380 buffer ETFs by net assets
In plain words
The fund's price can fall 21.8% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, CBTX can fall 25.4% from today's level to the point where the buffer begins. Protection left, in index points: 85.0% of the 85.0% buffer still sits below today's CBTX level. 210 days remained on Sep 11, 2026. On Apr 9, 2027 the period ends and a new cap is set.
| Reference index | CBTX |
|---|---|
| Buffer | 15% to 100% |
| Outcome period | Apr 1, 2026 to Apr 9, 2027 |
| Starting cap | +26.8% |
| CBTX return since period start | +13.9% |
| Fund return since period start | +7.5% |
| Net assets (issuer page, as of Sep 11, 2026) | $776,997 |
| Band state today (ETFIQ) | Open |
| Can still gain (issuer, fund price) | 17.0% |
| Fall before buffer (issuer, fund price) | 21.8% |
| Fall to the buffer in index terms (ETFIQ) | 25.4% |
| Protection left in index points (ETFIQ) | 85.0% of 85.0% |
| Days left in period | 210 |
| Expense ratio (issuer page, Sep 11, 2026) | 0.90% |
Issuer-published figures as of the date shown; ETFIQ calculations marked. Definitions on the learn page. How these figures are computed
Questions people ask
- How much can BFAP still gain?
- About 17.0% from its price on Sep 11, 2026, before it reaches its cap, by the issuer's published figure. The cap for the period was set at +26.8%.
- How far can BFAP fall before the buffer helps?
- 21.8% in fund-price terms on Sep 11, 2026, by the issuer's figure. In index terms CBTX can fall 25.4% from that level before the buffer begins. Losses until that point are the holder's.
- How much of the BFAP buffer is left?
- 85.0% of the 85.0% buffer sat below the CBTX level on Sep 11, 2026. That is an ETFIQ calculation in index points, on one definition for every issuer.
- When does BFAP reset?
- The outcome period ends on Apr 9, 2027, 210 days from the data on Sep 11, 2026. A new cap is set the next day and the buffer starts again.
- What does BFAP cost?
- The prospectus expense ratio is 0.90% a year.
The words on this page
- Buffer
- The first slice of loss the fund absorbs for you over its outcome period, stated on the reference index. A 15% buffer means the index can fall 15% before you take any of it.
- Cap
- The most the fund can return over the period, however far the index rises. It is the price paid for the buffer.
- Outcome period
- The window the buffer and cap apply over, usually a year. Both are set at the start and only hold if you are there for the whole of it.
- Reset
- The day one outcome period ends and the next begins, with a fresh buffer and a fresh cap struck at that day’s level.
- Protection left
- The part of the buffer still below today’s index level. A buffer bought mid-period is not the full buffer; this is what is left of it.
Every term used here, defined in full on the buffer ETFs vocabulary page.
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
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Where BFAP is written about
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Cite this page. ETFIQ, BFAP, buffer ETFs, data as of Sep 11, 2026. https://etfiq.com/funds/BFAP Free to use with attribution; the underlying files are at Open data.