APXM ETF — FT Vest U.S. Equity Max Buffer ETF - April

FT Vest U.S. Equity Max Buffer ETF - April (APXM)

Updated October 16, 2026.

APXM is an ETF. its expense ratio is 0.85%. Total return is 9.3% over the past 1.5 years, 41.7 points behind SPY at 51.0%.

FT Vest U.S. Equity Max Buffer ETF - April is an ETF from First Trust that invests substantially all its assets in FLEX Options referencing an underlying equity ETF, designed to provide downside protection through options strategies; it is non-diversified. The fund does not currently distribute, and carries an expense ratio of 0.85%. This product appeals to equity investors seeking structured downside protection rather than current income.

APXM performance versus SPY

Price and return data through 2026-10-16.

Total return is 9.3% over the past 1.5 years, 41.7 points behind SPY at 51.0%. Over the past year its total return — price change plus distributions reinvested — is 4.9%. Its deepest 1-year drawdown was 0.6%.

APXM key facts

Issuer

First Trust

Asset type

ETF

Asset class

Equity

Inception date

04/16/2025

Expense ratio

0.85%

Distribution frequency

None

Last close

$32.20 (as of 2026-10-16)

AUM

$21,782,655

Average volume

480.0

Beta

0.0648

How Dividend Vision calculates yield and returns

Distribution rate (the posted rate) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: First Trust or company page; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

APXM risks and drawbacks

Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 0.6%.

Who may consider APXM — and who may not

It is a weaker fit for investors who need monthly cash flow (APXM does not currently distribute); investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on APXM

• All tickers starting with A

Tagged: Downside Protection, Options, Target.

Frequently asked questions

More securities from First Trust.