# XJAN (FT Vest U.S. Equity Enhance & Moderate Buffer ETF - January)

First Trust · Buffer ETFs · data as of Sep 21, 2026

As of Sep 21, 2026, XJAN has reached its cap.

## Key facts

- XJAN, past the cap, price drift left: 2.5%, as of Sep 21, 2026.
- XJAN, fall before the buffer: 6.8%, as of Sep 21, 2026.
- XJAN, protection left, index points: 15.0%, as of Sep 21, 2026.
- XJAN, days to reset: 116, as of Sep 21, 2026.
- XJAN, net assets: $40m (issuer page, as of Sep 18, 2026).
- XJAN, expense ratio: 0.85% (issuer page, Sep 21, 2026).

## XJAN over each window to Sep 21, 2026

| Window | Total return | SPY | Gap to SPY |
| --- | --- | --- | --- |
| 3 months | +2.2% | +2.3% | −0.1 pts |
| 6 months | +9.0% | +18.0% | −9.1 pts |
| 1 year | +9.0% | +16.6% | −7.5 pts |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Reference index | SPY | ETFIQ |
| Buffer | 15% | ETFIQ |
| Outcome period | Jan 20, 2026 to Jan 15, 2027 | ETFIQ |
| Starting cap | +9.9% | ETFIQ |
| SPY return since period start | +11.9% | ETFIQ |
| Fund return since period start | +6.4% | ETFIQ |
| Net assets | $40m | issuer page, as of Sep 18, 2026 |
| Band state today | At cap | ETFIQ |
| Can still gain | 2.5% | issuer, fund price |
| Fall before buffer | 6.8% | issuer, fund price |
| Fall to the buffer in index terms | 10.6% | ETFIQ |
| Protection left in index points | 15.0% of 15.0% | ETFIQ |
| Days left in period | 116 | ETFIQ |
| Expense ratio | 0.85% | issuer page, Sep 21, 2026 |

## Questions

### How much can XJAN still gain?

Nothing more in index terms on Sep 21, 2026. SPY has already passed the cap of +9.9% for this period, which runs from Jan 20, 2026 to Jan 15, 2027.

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

6.8% in fund-price terms on Sep 21, 2026, by the issuer's figure. In index terms SPY can fall 10.6% from that level before the buffer begins. Losses until that point are the holder's.

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

15.0% of the 15.0% buffer sat below the SPY level on Sep 21, 2026. That is an ETFIQ calculation in index points, on one definition for every issuer.

### When does XJAN reset?

The outcome period ends on Jan 15, 2027, 116 days from the data on Sep 21, 2026. A new cap is set the next day and the buffer starts again.

### What does XJAN cost?

The prospectus expense ratio is 0.85% a year.


## Cite this page

ETFIQ, XJAN, data as of Sep 21, 2026. https://etfiq.com/funds/xjan
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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