BUFZ Fees and Costs — FT Vest Laddered Moderate Buffer ETF
Data updated: 2026-07-22
The net expense ratio is 0.95%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $2K in broker commissions, 0.0004% of average net assets, and portfolio turnover was 1%.
BUFZ Fees and Expenses
Annual operating expenses and sales charges of BUFZ. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.10% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.95% |
| Fee waiver | — |
| Net expense ratio | 0.95% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
BUFZ Costs Over Time
On $10,000 invested in BUFZ, assuming 5% a year before costs, total costs come to $595 over 5 years, cutting the return by 1.00% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.95%) | $100 | $311 | $540 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $15 | $55 |
| Total costs | $100 | $327 | $595 |
| Value after costs | $10,400 | $11,249 | $12,168 |
| Impact on return, per year | 1.00% | 1.00% | 1.00% |
BUFZ Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0004%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $527.1M
- Portfolio turnover (prospectus): 1%
- Securities lending: none during the year
BUFZ Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| OLD MISSION MARKETS LLC | $1K | 66.55% |
| Jane Street Execution Services, LLC | $390 | 23.44% |
| CITADEL SECURITIES LLC | $111 | 6.70% |
| J.P. MORGAN SECURITIES LLC | $28 | 1.66% |
| BTIG, LLC | $27 | 1.64% |
BUFZ Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $173.9M | 32.98% |
| BOFA SECURITIES, INC. | $150.7M | 28.60% |
| Jane Street Execution Services, LLC | $98.7M | 18.73% |
| CITADEL SECURITIES LLC | $92.9M | 17.62% |
| J.P. Morgan Securities LLC | $6.0M | 1.13% |
| VIRTU AMERICAS LLC | $4.9M | 0.93% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.