ETF Evaluator: FT Vest U.S. Sm Cp Mod Buf ETF -Aug () Follow This ETF

FT Vest U.S. Sm Cp Mod Buf ETF -Aug Overview

FT Vest U.S. Sm Cp Mod Buf ETF -Aug (SAUG) is an actively managed Nontraditional Equity Defined Outcome exchange-traded fund (ETF). First Trust launched the ETF in 2023.

The investment seeks to provide investors with returns (before fees and expenses) that match the price return of the iShares Russell 2000 ETF. Under normal market conditions, the fund will invest substantially all of its assets in FLexible EXchange® Options (“FLEX Options”) that reference the price performance of the iShares Russell 2000 ETF (the “Underlying ETF”). FLEX Options are customized equity or index option contracts that trade on an exchange, but provide investors with the ability to customize key contract terms like exercise prices, styles and expiration dates. The fund is non-diversified.

About FT Vest U.S. Sm Cp Mod Buf ETF -Aug (SAUG)

There are 2 members of the management team with an average tenure of 2.27 years: Karan Sood (2023) and Trevor Lack (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.

The ETF has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and Russell 2000 TR USD index with a weighting of 100%. FT Vest U.S. Sm Cp Mod Buf ETF -Aug has 6 securities in its portfolio. The top 10 holdings constitute 121.2% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.

FT Vest U.S. Sm Cp Mod Buf ETF -Aug is part of the Equity global asset class and is within the Nontraditional Equity ETF group. FT Vest U.S. Sm Cp Mod Buf ETF -Aug has 2.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 97.2% There is 2.4% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). FT Vest U.S. Sm Cp Mod Buf ETF -Aug has 0.5% of the portfolio in cash.

Assets Under Management

The fund has $110 million in total assets, which is below the $183 million average for the Defined Outcome category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

SAUG Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The FT Vest U.S. Sm Cp Mod Buf ETF -Aug expense ratio is high compared to funds in the Defined Outcome category. FT Vest U.S. Sm Cp Mod Buf ETF -Aug has an expense ratio of 0.90%, which is 26% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. FT Vest U.S. Sm Cp Mod Buf ETF -Aug has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 3% for the Defined Outcome category.

Recently, in the month of July 2026, FT Vest U.S. Sm Cp Mod Buf ETF -Aug returned 0.6%, which earned it a grade of B, as the Defined Outcome category had an average return of 0.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.

FT Vest U.S. Sm Cp Mod Buf ETF -Aug has a trailing yield of 0.00%, which is below the 0.48% category average. The fund normally distributes its income annually and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

FT Vest U.S. Sm Cp Mod Buf ETF -Aug Grades

Year to date, the ETF has returned 9.0%, 3.2 percentage points better than the category, which translates into a grade of A. The fund has returned 18.7% over the past year (grade of A).

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