{
 "ticker": "BUFZ",
 "name": "FT Vest Laddered Moderate Buffer ETF",
 "issuer": "First Trust",
 "desk": "buffer",
 "url": "https://etfiq.com/funds/bufz",
 "html": "https://etfiq.com/funds/bufz",
 "markdown": "https://etfiq.com/funds/bufz.md",
 "as_of": "2026-10-09",
 "verdict": "As of Oct 9, 2026, BUFZ's 12 sleeves can still gain 5.7% on average and can fall 6.6% before their buffers.",
 "key_facts": [
  {
   "key": "can_still_gain_weighted",
   "label": "Can still gain, weighted",
   "value": "5.7%",
   "source": null,
   "as_of": "2026-10-09",
   "sentence": "BUFZ, can still gain, weighted: 5.7%, as of Oct 9, 2026."
  },
  {
   "key": "fall_before_the_buffers_weighted",
   "label": "Fall before the buffers, weighted",
   "value": "6.6%",
   "source": null,
   "as_of": "2026-10-09",
   "sentence": "BUFZ, fall before the buffers, weighted: 6.6%, as of Oct 9, 2026."
  },
  {
   "key": "protection_left_weighted_index_points",
   "label": "Protection left, weighted, index points",
   "value": "15.0%",
   "source": null,
   "as_of": "2026-10-09",
   "sentence": "BUFZ, protection left, weighted, index points: 15.0%, as of Oct 9, 2026."
  },
  {
   "key": "days_to_the_next_reset",
   "label": "Days to the next reset",
   "value": "7",
   "source": null,
   "as_of": "2026-10-09",
   "sentence": "BUFZ, days to the next reset: 7, as of Oct 9, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$961m on May 31, 2026",
   "source": "N-PORT",
   "as_of": "2026-10-09",
   "sentence": "BUFZ, net assets: $961m on May 31, 2026 (N-PORT)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.95%",
   "source": "485BPOS XBRL, Dec 29, 2025",
   "as_of": "2026-10-09",
   "sentence": "BUFZ, expense ratio: 0.95% (485BPOS XBRL, Dec 29, 2025)."
  }
 ],
 "fields": [
  {
   "key": "kind",
   "label": "Kind",
   "value": "Laddered buffer ETF: a fund of 12 buffer ETFs",
   "source": null
  },
  {
   "key": "reference_index",
   "label": "Reference index",
   "value": "SPY",
   "source": null
  },
  {
   "key": "sleeves",
   "label": "Sleeves",
   "value": "GOCT, GNOV, GDEC, GJAN, GFEB, GMAR, GAPR, GMAY, GJUN, GJUL, GAUG, GSEP",
   "source": null
  },
  {
   "key": "sleeve_outcome_periods",
   "label": "Sleeve outcome periods",
   "value": "about 12 months each, ending on 12 different dates",
   "source": null
  },
  {
   "key": "weights",
   "label": "Weights",
   "value": "its report for May 31, 2026",
   "source": "N-PORT"
  },
  {
   "key": "share_of_net_assets_in_the_sleeves_etfiq_reads",
   "label": "Share of net assets in the sleeves ETFIQ reads",
   "value": "99.90%",
   "source": null
  },
  {
   "key": "can_still_gain_weighted",
   "label": "Can still gain, weighted",
   "value": "5.7%",
   "source": "ETFIQ"
  },
  {
   "key": "fall_before_the_buffers_weighted",
   "label": "Fall before the buffers, weighted",
   "value": "6.6%",
   "source": "ETFIQ"
  },
  {
   "key": "protection_left_weighted_index_points",
   "label": "Protection left, weighted, index points",
   "value": "15.0%",
   "source": "ETFIQ"
  },
  {
   "key": "next_sleeve_to_reset",
   "label": "Next sleeve to reset",
   "value": "GOCT on Oct 16, 2026, in 7 days",
   "source": null
  },
  {
   "key": "days_left_weighted",
   "label": "Days left, weighted",
   "value": "176",
   "source": "ETFIQ"
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$961m on May 31, 2026",
   "source": "N-PORT"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.95%",
   "source": "485BPOS XBRL, Dec 29, 2025"
  },
  {
   "key": "sleeve_goct_8_34_of_net_assets",
   "label": "Sleeve GOCT, 8.34% of net assets",
   "value": "SPY, period ends Oct 16, 2026, can still gain 0.0%, fall before buffer 10.9%",
   "source": null
  },
  {
   "key": "sleeve_gnov_8_33_of_net_assets",
   "label": "Sleeve GNOV, 8.33% of net assets",
   "value": "SPY, period ends Nov 20, 2026, can still gain 0.9%, fall before buffer 11.0%",
   "source": null
  },
  {
   "key": "sleeve_gdec_8_33_of_net_assets",
   "label": "Sleeve GDEC, 8.33% of net assets",
   "value": "SPY, period ends Dec 18, 2026, can still gain 1.9%, fall before buffer 9.1%",
   "source": null
  },
  {
   "key": "sleeve_gjan_8_34_of_net_assets",
   "label": "Sleeve GJAN, 8.34% of net assets",
   "value": "SPY, period ends Jan 15, 2027, can still gain 2.8%, fall before buffer 8.2%",
   "source": null
  },
  {
   "key": "sleeve_gfeb_8_32_of_net_assets",
   "label": "Sleeve GFEB, 8.32% of net assets",
   "value": "SPY, period ends Feb 19, 2027, can still gain 3.5%, fall before buffer 7.7%",
   "source": null
  },
  {
   "key": "sleeve_gmar_8_31_of_net_assets",
   "label": "Sleeve GMAR, 8.31% of net assets",
   "value": "SPY, period ends Mar 19, 2027, can still gain 3.4%, fall before buffer 9.5%",
   "source": null
  },
  {
   "key": "sleeve_gapr_8_34_of_net_assets",
   "label": "Sleeve GAPR, 8.34% of net assets",
   "value": "SPY, period ends Apr 16, 2027, can still gain 5.5%, fall before buffer 6.2%",
   "source": null
  },
  {
   "key": "sleeve_gmay_8_36_of_net_assets",
   "label": "Sleeve GMAY, 8.36% of net assets",
   "value": "SPY, period ends May 21, 2027, can still gain 8.5%, fall before buffer 4.8%",
   "source": null
  },
  {
   "key": "sleeve_gjun_8_28_of_net_assets",
   "label": "Sleeve GJUN, 8.28% of net assets",
   "value": "SPY, period ends Jun 17, 2027, can still gain 9.2%, fall before buffer 3.8%",
   "source": null
  },
  {
   "key": "sleeve_gjul_8_30_of_net_assets",
   "label": "Sleeve GJUL, 8.30% of net assets",
   "value": "SPY, period ends Jul 16, 2027, can still gain 9.5%, fall before buffer 3.9%",
   "source": null
  },
  {
   "key": "sleeve_gaug_8_32_of_net_assets",
   "label": "Sleeve GAUG, 8.32% of net assets",
   "value": "SPY, period ends Aug 20, 2027, can still gain 11.5%, fall before buffer 2.1%",
   "source": null
  },
  {
   "key": "sleeve_gsep_8_32_of_net_assets",
   "label": "Sleeve GSEP, 8.32% of net assets",
   "value": "SPY, period ends Sep 17, 2027, can still gain 11.8%, fall before buffer 2.1%",
   "source": null
  }
 ],
 "periods": [
  {
   "window": "3 months",
   "Total return": "+2.6%",
   "SPY price return": "+3.1%",
   "Gap to SPY": "\u22120.5 pts"
  },
  {
   "window": "6 months",
   "Total return": "+7.3%",
   "SPY price return": "+14.6%",
   "Gap to SPY": "\u22127.3 pts"
  },
  {
   "window": "1 year",
   "Total return": "+11.1%",
   "SPY price return": "+16.0%",
   "Gap to SPY": "\u22124.9 pts"
  },
  {
   "window": "Since launch",
   "Total return": "+46.2%",
   "SPY price return": "+88.7%",
   "Gap to SPY": "\u221242.5 pts"
  }
 ],
 "questions": [
  {
   "q": "What does BUFZ hold?",
   "a": "BUFZ holds 12 buffer ETFs: GOCT, GNOV, GDEC, GJAN, GFEB, GMAR, GAPR, GMAY, GJUN, GJUL, GAUG, GSEP. Its N-PORT for May 31, 2026 puts 99.9% of its net assets in them."
  },
  {
   "q": "How much can BUFZ still gain?",
   "a": "Weighted by its N-PORT, BUFZ's sleeves can still gain 5.7% as of Oct 9, 2026, each sleeve's issuer figure in fund-price terms."
  },
  {
   "q": "When does BUFZ reset?",
   "a": "BUFZ itself does not reset. Each sleeve resets on its own date; the next is GOCT on Oct 16, 2026, in 7 days."
  }
 ],
 "generated": "2026-10-09",
 "license": "https://etfiq.com/license/",
 "license_text": "Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.",
 "citation": "ETFIQ, BUFZ, buffer ETFs, data as of Oct 9, 2026. https://etfiq.com/funds/bufz"
}