At a glance
RSJN charges 0.85% a year, below the 0.86% average of the 7 funds most like it (the 3rd cheapest of 8). It has $85.4M in assets, the 8th largest of that group. Over the past year it returned +11.8% with distributions reinvested (S&P 500: +11.5%), 4th of those 8 funds.
The short version
FT Vest U.S. Equity Equal Weight Buffer ETF - June (RSJN) uses FLEX options on the Invesco S&P 500 Equal Weight ETF (RSP). The goal is to cushion the first 10% of RSP's price losses over a yearly period that resets each June, with gains capped in exchange. What sets it apart is the reference fund: RSP gives every S&P 500 company about the same weight. It charges 0.85% a year and pays no dividends.
Price history
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RSJN +11.8% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| RSJN official prospectus, to Dec 31, 2025 | — | +7.72% | — | — | — | +8.89% |
| RSJN price data to Oct 27, 2026 | +11.0% | +11.8% | — | — | — | +10.3% |
- Over the year to Oct 27, 2026, RSJN returned +11.8%, 4th of 8 among similar funds.
- Its worst full calendar year was 2025 (+7.9%); its best was 2025 (+7.9%).
- The deepest fall in its price history was 12.4% (Dec 2, 2024 to Apr 8, 2025), recovered by Jul 23, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +11.1% | — |
| 2025 | +7.9% | +7.72% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
What's inside
As of Aug 31, 2026, the fund held 0 securities; the ten largest made up 0% of assets.
| Holding | Weight |
|---|
By country
By asset type
What changed recently
- Over the three months to Aug 31, 2026, investors added a net $65.2M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +1.39%, +0.51%, +1.63%.
How it works
First Trust runs the fund, and Vest Financial is the sub-advisor. Almost all of the money goes into FLEX Options, which are exchange-traded options whose strike prices and expiration dates can be customized. These options are on the Invesco S&P 500 Equal Weight ETF (RSP). RSP holds every stock in the S&P 500 Equal Weight Index, which gives each company about the same weight. As of August 31, 2026, about 99% of assets sat in 12 option positions and about 1% in cash. The largest position was a call option on RSP worth about 88% of assets.
The options are set up to produce a defined result over a roughly one-year "Target Outcome Period." For June 22, 2026 through June 17, 2027, the fund aims to match RSP's price return up to a cap of 15.28%. It also aims to absorb the first 10% of losses. After the 0.85% fee, the cap is 14.43% and the buffer is 9.15%. Losses beyond 10% pass through one-for-one. If RSP falls 20%, the fund aims to lose about 10% before fees. Returns do not include RSP's dividends.
Each June the fund buys a new set of options. The buffer stays at 10%, but the cap is reset based on market conditions at the time. The stated results apply only to shares bought on the first day of a period and held to the last. Buying or selling partway through can give very different results.
What it really costs
- RSJN charges 0.85% a year, versus an average of 0.86% for the similar funds below (3rd of 8, cheapest first).
Structure and tax notes
- Uses options to limit losses within a range (the buffer) in exchange for a cap on gains over each outcome period; results depend on when you buy relative to the period start.
In a retirement portfolio
It gives up gains above a yearly cap in exchange for a cushion against the first 10% of losses in an equal-weighted S&P 500 fund.
RSJN could steady the stock part of a portfolio by trading away some upside for protection against moderate declines. Its record is short. It launched June 21, 2024, so it was not around for the 2008, 2020 or 2022 downturns. Its only full calendar year, 2025, returned 7.72%. Its deepest drop was 12.4%, from December 2, 2024 to April 8, 2025, and it recovered in about 3.5 months. A drop bigger than the buffer can happen because the buffer applies only at the end of each period. Someone who has to sell partway through gets the market price, not the stated cushion. The fund recorded no distributions, so it provides no income. Its 0.85% expense ratio is close to the 0.86% average of similar buffer funds. Past results don't predict future returns, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want equal-weighted S&P 500 exposure through RSP, with a cushion against the first 10% of price losses each June-to-June period.
- Holders who can buy near the start of a period (the latest began June 22, 2026) and hold until it ends.
- People willing to accept a 15.28% cap (14.43% after fees) in exchange for smaller swings; one-year volatility was 6.8% as of October 27, 2026.
Look elsewhere if
- Income seekers: the fund recorded no distributions, and its returns do not include RSP's dividends.
- Investors who want a longer record or a larger fund: it launched June 2024 and had $85.4 million in net assets as of August 31, 2026.
- Investors likely to buy or sell partway through a period, when results can differ sharply from the stated cap and buffer.
Close alternatives
Matched by other buffer (defined-outcome) funds, largest first.
| Fund | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|
| RSJN this fund | 0.85% | $85.4M | +11.8% | — |
| BUFR FT Vest Laddered Buffer ETF | 0.95% | $10.49B | +11.6% | +16.8% |
| BUFD FT Vest Laddered Deep Buffer ETF | 0.95% | $2.04B | +9.5% | +13.9% |
| PJAN Innovator U.S. Equity Power Buffer ETF - Ja… | 0.79% | $1.44B | +10.5% | +14.8% |
| PDEC Innovator U.S. Equity Power Buffer ETF - De… | 0.79% | $984.1M | +11.6% | +14.9% |
| FDEC FT Vest US Equity Buffer ETF - December | 0.85% | $1.31B | +12.9% | +18.5% |
| FJAN FT Vest US Equity Buffer ETF - January | 0.85% | $1.47B | +12.3% | +17.4% |
| FFEB FT Vest U.S. Equity Buffer Fund - February | 0.85% | $1.42B | +12.9% | +18.6% |
Questions investors ask
Does RSJN pay dividends?
No. The fund recorded no distributions. It holds options on the Invesco S&P 500 Equal Weight ETF (RSP), not the stocks themselves, and the prospectus says its performance does not include RSP's dividends. Its returns follow only RSP's price change, within the cap and buffer. Investors who need regular cash from their holdings would have to sell shares to get it.
How does the RSJN buffer work?
The fund uses FLEX options to absorb the first 10% of RSP's price losses over a roughly one-year period, before fees. For June 22, 2026 through June 17, 2027, gains are capped at 15.28%. After the 0.85% fee, the buffer is 9.15% and the cap is 14.43%. Losses beyond 10% pass through one-for-one, so a 20% drop in RSP would mean about a 10% loss for the fund, before fees.
What happens if I buy RSJN in the middle of the outcome period?
Your results may differ a lot from the stated cap and buffer. Those outcomes apply only to shares bought on the first day of a period and held to the end. If you buy later, you may have less upside left before the cap, or less buffer remaining. Selling early has the same problem. The fund's website posts the expected cap range for the next period about a week before each reset.
What's the difference between RSJN and FJAN?
Both are First Trust buffer ETFs sub-advised by Vest, and both charge 0.85%. RSJN references the equal-weighted RSP and resets each June. FJAN resets each January. Its prospectus says which fund or index it references. FJAN is much larger, with about $1.47 billion in net assets against RSJN's $85.4 million as of August 31, 2026. Over one year through October 27, 2026, FJAN returned 12.3% and RSJN returned 11.8%.
Is RSJN safe for retirement?
No fund is risk-free, and RSJN can lose money. It could even lose all of it. The buffer covers only the first 10% of RSP's losses, and only for shares held through a full period. Its deepest drop was 12.4%, from December 2024 to April 2025, and it recovered in about 3.5 months. It pays no income. Its history starts in June 2024, so it has not been through a deep bear market.