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GSEP is an actively managed “buffer” ETF that uses exchange-traded FLEX options tied to SPY’s price return to shape outcomes over a defined one-year window that starts in September.
It targets protection against the first ~15% of SPY losses and caps gains around ~11.
30% before fees (about 10. 46% cap and 14. 15% buffer after fees). To get the intended buffer/cap profile, you generally need to hold it for the full Target Outcome Period, because the option package resets each year and the cap can change with market conditions.
You own a bundle of customized options on SPY plus cash-like collateral, not the 500 stocks directly. The options are built to take the edge off a drop (up to ~15%), but they also limit how much you can gain and they don’t pass through SPY’s dividends.
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Provides downside buffer protection with capped upside over a defined outcome period.
Showing the largest holdings by weight in GSEP
| Logo | Ticker | ETF Weight | Market Value | |
|---|---|---|---|---|
4S | 4SPY 260918C00006660 2026-09-18 State Street® SPDR® S&P 500® ETF Trust C 6.66 | 2026-09-18 State Street® SPDR® S&P 500® ETF Trust C 6.66 | 96.11% | $459.1M |
4S | 4SPY 260918P00663720 2026-09-18 State Street® SPDR® S&P 500® ETF Trust P 663.72 | 2026-09-18 State Street® SPDR® S&P 500® ETF Trust P 663.72 | 3.27% | $15.6M |
$U | $USD US Dollar | US Dollar | 0.62% | $3.0M |
Breakdown of GSEP by sector weightings (%)
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Top countries by weight (%)
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