SEPM Fees and Costs — FT Vest U.S. Equity Max Buffer ETF - September
Data updated: 2026-09-28
The net expense ratio is 0.85%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $2K in broker commissions, 0.0072% of average net assets, and portfolio turnover was 0%.
SEPM Fees and Expenses
Annual operating expenses and sales charges of SEPM. Prospectus, as of May 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.85% |
| Fee waiver | — |
| Net expense ratio | 0.85% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
SEPM Costs Over Time
On $10,000 invested in SEPM, assuming 5% a year before costs, total costs come to $538 over 5 years, cutting the return by 0.90% 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 0.85%) | $89 | $279 | $484 |
| Trading costs (broker commissions) | $1 | $2 | $4 |
| Lost growth on money paid in costs | $0 | $14 | $49 |
| Total costs | $90 | $295 | $538 |
| Value after costs | $10,410 | $11,281 | $12,225 |
| Impact on return, per year | 0.90% | 0.90% | 0.90% |
SEPM Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0072%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $72.2M
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
SEPM Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| X-CHANGE FINANCIAL ACCESS, LLC | $2K | 88.09% |
| Wolverine Execution Services LLC | $240 | 11.91% |
SEPM Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $46.2M | 64.07% |
| TD SECURITIES (USA) LLC | $20.4M | 28.22% |
| BOFA SECURITIES, INC. | $4.0M | 5.56% |
| ABN AMRO CLEARING USA LLC | $1.6M | 2.15% |
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.