# GAPR (FT Vest U.S. Equity Moderate Buffer ETF - April)

First Trust · Buffer ETFs · data as of Sep 11, 2026

As of Sep 11, 2026, GAPR sits between its buffer and its cap, with SPY up 7.6% since the period began.

## Key facts

- GAPR, can still gain: 6.7%, as of Sep 11, 2026.
- GAPR, fall before the buffer: 5.1%, as of Sep 11, 2026.
- GAPR, protection left, index points: 15.0%, as of Sep 11, 2026.
- GAPR, days to reset: 217, as of Sep 11, 2026.
- GAPR, net assets: $294m (issuer page, as of Sep 11, 2026).
- GAPR, expense ratio: 0.85% (issuer page, Sep 11, 2026).

## GAPR over each window to Sep 11, 2026

| Window | Total return | SPY | Gap to SPY |
| --- | --- | --- | --- |
| 3 months | +2.5% | +3.3% | −0.8 pts |
| 6 months | +5.5% | +16.0% | −10.5 pts |
| 1 year | +8.6% | +17.5% | −8.9 pts |
| 3 years | +35.8% | +77.9% | −42.0 pts |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Reference index | SPY | ETFIQ |
| Buffer | 15% | ETFIQ |
| Outcome period | Apr 20, 2026 to Apr 16, 2027 | ETFIQ |
| Starting cap | +12.3% | ETFIQ |
| SPY return since period start | +7.6% | ETFIQ |
| Fund return since period start | +4.5% | ETFIQ |
| Net assets | $294m | issuer page, as of Sep 11, 2026 |
| Band state today | Open | ETFIQ |
| Can still gain | 6.7% | issuer, fund price |
| Fall before buffer | 5.1% | issuer, fund price |
| Fall to the buffer in index terms | 7.1% | ETFIQ |
| Protection left in index points | 15.0% of 15.0% | ETFIQ |
| Days left in period | 217 | ETFIQ |
| Expense ratio | 0.85% | issuer page, Sep 11, 2026 |

## Questions

### How much can GAPR still gain?

About 6.7% 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 +12.3%.

### How far can GAPR fall before the buffer helps?

5.1% in fund-price terms on Sep 11, 2026, by the issuer's figure. In index terms SPY can fall 7.1% from that level before the buffer begins. Losses until that point are the holder's.

### How much of the GAPR buffer is left?

15.0% of the 15.0% buffer sat below the SPY level on Sep 11, 2026. That is an ETFIQ calculation in index points, on one definition for every issuer.

### When does GAPR reset?

The outcome period ends on Apr 16, 2027, 217 days from the data on Sep 11, 2026. A new cap is set the next day and the buffer starts again.

### What does GAPR cost?

The prospectus expense ratio is 0.85% a year.


## Cite this page

ETFIQ, GAPR, data as of Sep 11, 2026. https://etfiq.com/funds/gapr
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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