About this ETF
DGAP is structured to deliver a predefined return profile linked to the price performance of the SPDR S&P 500 ETF Trust (SPY) over a defined outcome period from April 20, 2026 through April 16, 2027. The fund seeks to provide a buffer against the first 10% of SPY losses while offering a fixed digital return if SPY appreciates, remains unchanged, or declines by up to the buffer level during the outcome period. In exchange, gains beyond the digital return are not captured, and losses beyond the buffer are experienced on a one-to-one basis. The fund does not hold equities directly and instead invests primarily in exchange-listed FLEX Options that reference SPY. These options are set at the start of each outcome period to apply the 10% buffer and establish the digital return and are reset at the start of the next outcome period. The defined outcomes apply only when shares are held for the full outcome period, and positions entered or exited earlier may experience different results.
Description from the fund data provider · profile as of Oct 26, 2026.
Price Chart
Daily closing prices (price return, not total return). Comparison lines are normalized to percent change from the range start. Source: Financial Modeling Prep.
Performance
| 1M | 3M | 6M | YTD | 1Y | 3Y* | 5Y* | 10Y* | Incep.* | |
|---|---|---|---|---|---|---|---|---|---|
| Price return | +0.26% | +2.33% | +4.55% | — | — | — | — | — | +4.76% |
| Total return | +0.26% | +2.33% | +4.55% | — | — | — | — | — | +4.76% |
* Annualized. Total return uses the dividend-adjusted price series (distributions reinvested); price return uses unadjusted closes. Performance through Oct 23, 2026. Past performance does not guarantee future results.
Fees
| Net expense ratio | 0.85% | Annual cost of a $10,000 investment | $85.00 |
Illustrative calculation only: expense ratio × $10,000. It excludes trading costs, bid/ask spreads, taxes and changes in investment value. Gross vs. net expense details and any fee waivers are in the prospectus.
Holdings
Holdings list retrieved Oct 24, 2026 · The data provider's latest disclosed portfolio for this fund. Issuers publish holdings daily or monthly, so the portfolio date can be earlier; holdings are not live positions. 7 holdings stored.
| # | Holding | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|---|
| 1 | 2027-04-16 State Street® SPDR® S&P 500® ETF… | — | 100.81% | 105 | $7.9M |
| 2 | 2027-04-16 State Street® SPDR® S&P 500® ETF… | — | 75.86% | 380 | $5.9M |
| 3 | 2027-04-16 State Street® SPDR® S&P 500® ETF… | — | 2.21% | 105 | $172.7K |
| 4 | US Dollar | — | 0.78% | 60.59K | $60.6K |
| 5 | 2027-04-16 State Street® SPDR® S&P 500® ETF… | — | -1.11% | -105 | -$86.9K |
| 6 | 2027-04-16 State Street® SPDR® S&P 500® ETF… | — | -10.55% | -105 | -$823.2K |
| 7 | 2027-04-16 State Street® SPDR® S&P 500® ETF… | — | -68.00% | -380 | -$5.3M |
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Distributions
| Yield (TTM) | — | Paid (last 12 months) | — |
| Frequency | — | SEC yield | Not provided by our data source; see the issuer page |
| Last ex-date | — | Last payment | — |
| Growth 1Y | — | Growth 3Y / 5Y (ann.) | — / — |
No distributions in our database for this fund; it may not pay them, or history has not loaded yet.
Risk Statistics
Liquidity
| Volume today | 9 | Average volume | 1.81K |
| AUM | $7.8M | Premium/Discount | +0.11% |
| Bid/Ask spread | Not provided by our data source. Check your broker's quote screen; spreads are widest at the open and close. | ||
Premium/discount compares the delayed market price with the last reported NAV: an indicative figure, not the official closing premium/discount. How ETF liquidity works →
Fund Flows (estimated)
| Period | Est. net flow | % of starting AUM | AUM start → end |
|---|---|---|---|
| 1 Week | $6.5K | +0.08% | $7.8M → $7.8M |
| 1 Month | $4.9K | +0.06% | $7.8M → $7.8M |
ETF Explorer estimate: change in reported AUM minus the market-move effect, from our own daily snapshots. Not official issuer creation/redemption data.
Official Fund Resources
External links open the issuer's site or SEC EDGAR in a new tab. The prospectus and official documents are always the authoritative source; review them before investing.
Latest News for DGAP
No articles mention this fund directly in the last 7 days; showing general ETF coverage.
Guided help: AUM is fund size. The expense ratio is the yearly cost baked into returns. NAV is the value of what the fund owns per share; the market price can sit slightly above (premium) or below (discount) it. Total return assumes distributions were reinvested. Every dataset shows its own as-of date because holdings, assets and quotes update on different schedules.
DGAP