# SQMX (FT Vest U.S. Equity Quarterly Max Buffer ETF)

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

As of Sep 11, 2026, SQMX's buffer is absorbing losses, with 12.6% of 12.6% points still beneath SPY.

## Key facts

- SQMX, can still gain: 0.9%, as of Sep 11, 2026.
- SQMX, fall before the buffer: 2.0%, as of Sep 11, 2026.
- SQMX, protection left, index points: 12.6%, as of Sep 11, 2026.
- SQMX, days to reset: 7, as of Sep 11, 2026.
- SQMX, net assets: $56m (issuer page, as of Sep 11, 2026).
- SQMX, expense ratio: 0.85% (issuer page, Sep 11, 2026).

## SQMX over each window to Sep 11, 2026

| Window | Total return | SPY | Gap to SPY |
| --- | --- | --- | --- |
| 3 months | +1.9% | +3.3% | −1.4 pts |
| 6 months | +4.7% | +16.0% | −11.3 pts |
| 1 year | +7.2% | +17.5% | −10.3 pts |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Reference index | SPY | ETFIQ |
| Buffer | 13% | ETFIQ |
| Outcome period | Jun 22, 2026 to Sep 18, 2026 | ETFIQ |
| Starting cap | +3.0% | ETFIQ |
| SPY return since period start | +2.4% | ETFIQ |
| Fund return since period start | +1.8% | ETFIQ |
| Net assets | $56m | issuer page, as of Sep 11, 2026 |
| Band state today | Open | ETFIQ |
| Can still gain | 0.9% | issuer, fund price |
| Fall before buffer | 2.0% | issuer, fund price |
| Fall to the buffer in index terms | 2.3% | ETFIQ |
| Protection left in index points | 12.6% of 12.6% | ETFIQ |
| Days left in period | 7 | ETFIQ |
| Expense ratio | 0.85% | issuer page, Sep 11, 2026 |

## Questions

### How much can SQMX still gain?

About 0.9% 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 +3.0%.

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

2.0% in fund-price terms on Sep 11, 2026, by the issuer's figure. In index terms SPY can fall 2.3% from that level before the buffer begins. Losses until that point are the holder's.

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

12.6% of the 12.6% 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 SQMX reset?

The outcome period ends on Sep 18, 2026, 7 days from the data on Sep 11, 2026. A new cap is set the next day and the buffer starts again.

### What does SQMX cost?

The prospectus expense ratio is 0.85% a year.


## Cite this page

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

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