DLNV FT Vest U.S. Equity Dual Directional Buffer ETF - November
Quote as of Oct 09, 2026 18:51 UTC · Market data delayed approximately 15–20 minutes unless otherwise indicated.
| Previous Close | 33.92 | Day Range | 33.98 – 34.01 |
| 52-Week Range | 29.95 – 34.01 | Volume | 132 |
| Avg Volume | 730 | AUM | $20.4M (Oct 10, 2026) |
| Expense Ratio | 0.85% | Yield (TTM) | — |
| NAV | 33.92 | Premium/Discount | +0.19% indicative |
| Inception | Nov 21, 2025 | Holdings | 5 |
| Issuer | First Trust | Exchange | CBOE |
| Category | Buffer | Index Tracked | S&P 500 |
| CUSIP | 33744U402 | ISIN | US33744U4022 |
| Structure | Inverse Buffer / Defined Outcome | ||
| Management | Not stated in source data | ||
About this ETF
DLNV seeks to offer dual directional returns by using FLEX options to match either the positive price return or the absolute or inverse value loss of SPDR S&P 500 ETF Trust (ticker: SPY) over a one-year period, starting November. The fund matches the positive price return of SPY up to a cap. If SPY declines to the threshold of 10%, the fund will reflect this decline in value. Once this decline is realized, the fund seeks to limit further losses through a 10% buffer.In exchange for preventing further losses, the fund foregoes additional upside return of SPY, as options are written on the price (not total) return version of the shares. Shares must be held over the entire outcome period to achieve the intended results. At the end of the target outcome period, the fund will reset for a new outcome period tied to the same index and buffer. The issuer publishes effective interim levels daily on its website. The targeted cap and buffer do not include the fund's expense ratio.
Description from the fund data provider · profile as of Oct 10, 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 | +1.18% | +2.67% | +8.27% | +9.07% | — | — | — | — | +10.95% |
| Total return | +1.19% | +2.69% | +8.28% | +9.08% | — | — | — | — | +10.97% |
* Annualized. Total return uses the dividend-adjusted price series (distributions reinvested); price return uses unadjusted closes. Performance through Oct 09, 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 as of Oct 10, 2026 · portfolio reporting date from the data provider; holdings are not live positions. 6 rows in database.
| # | Holding | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|---|
| 1 | 2026-11-20 State Street® SPDR® S&P 500® ETF… | — | 104.44% | 276 | $21.3M |
| 2 | US Dollar | — | 0.36% | 73.37K | $73.4K |
| 3 | 2026-11-20 State Street® SPDR® S&P 500® ETF… | — | 0.23% | 552 | $46.6K |
| 4 | 2026-11-20 State Street® SPDR® S&P 500® ETF… | — | 0.18% | 1.10K | $36.8K |
| 5 | 2026-11-20 State Street® SPDR® S&P 500® ETF… | — | -0.32% | -1.66K | -$65.9K |
| 6 | 2026-11-20 State Street® SPDR® S&P 500® ETF… | — | -4.88% | -276 | -$995.6K |
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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
| Volatility 1Y / 3Y | 6.18% / — | Sharpe 1Y / 3Y | 1.44 / — |
| Max drawdown 1Y / 3Y | -4.82% / — | Sortino 1Y | 2.19 |
| Beta vs S&P 500 (3Y) | 0.47 | Correlation vs S&P 500 (1Y) | 0.929 |
| Downside deviation 1Y | 4.06% | Risk-free rate used | 4.05% (3M T-bill, FRED) |
Computed by ETF Explorer from daily dividend-adjusted closes; volatility and drawdown are annualized/period figures; S&P 500 exposure proxied by SPY. As of Oct 10, 2026. Formulas →
Liquidity
| Volume today | 132 | Average volume | 730 |
| AUM | $20.4M | Premium/Discount | +0.19% |
| 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 Day | -$14.7K | -0.07% | $20.4M → $20.4M |
| 1 Month | -$100.2K | -0.50% | $20.2M → $20.4M |
| 1 Week | $15.6K | +0.08% | $20.3M → $20.4M |
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 DLNV
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.