Skip to content
Beacon

DLAGFT Vest U.S. Equity Dual Direct

Grow my moneyNewRanked #2,695 of 2,960 in this goal

Seeks to provide returns that match the positive price return of SPY up to a cap or the absolute value of the negative price return of SPY up to a threshold.

By First Trust · Launched 2025

Annual Cost

0.85%

#4,336 of 5,562 · expensive

Fund Size

$16M

#4,477 of 5,562 · small

Return (1Y)Goal

N/A

Track Record

9 months

#4,763 of 5,562 · young

Performance

Total-return NAV · USD
Growth of $10,000
$10,778+7.8%

Total-return NAV, USD. Net of fund fees, before tax.

Classification

How Beacon categorizes this fund

Asset class

Alternative

Region

North america

Strategy

Structured outcome

Index tracked

S&P 500 Index

What it actually holds

By weight

Concentration

Top 10 holdings = 116.0% of fundconcentrated

CBOE GLOBAL MARKETS, INC.SPY 8 C6.67
61.3%
CBOE GLOBAL MARKETS, INC.SPY 8 C6.67
30.7%
CBOE GLOBAL MARKETS, INC.SPY 8 C6.67
7.7%
CBOE GLOBAL MARKETS, INC.SPY 8 P663.73
4.9%
CBOE GLOBAL MARKETS, INC.SPY 8 P580.74
4.5%
CBOE GLOBAL MARKETS, INC.SPY 8 P663.73
2.5%
CBOE GLOBAL MARKETS, INC.SPY 8 P580.74
2.3%
Dreyfus Government Cash Management
1.0%
CBOE GLOBAL MARKETS, INC.SPY 8 P663.73
0.6%
CBOE GLOBAL MARKETS, INC.SPY 8 P580.74
0.6%

Asset allocation

Stocks
99.3%
Cash
0.7%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
N/A
Max drawdown
-4.2%Mild

Worst peak-to-trough loss

Sharpe (3Y)
Unavailable

Needs 3+ years of history

Sortino (3Y)
Not yet

Needs 3+ years of history

Where to buy

Listing

Exchange
Cboe BZX

Full fund details

Objective
Seeks to provide returns that match the positive price return of SPY up to a cap or the absolute value of the negative price return of SPY up to a threshold.
Strategy
Invests primarily in FLEX Options referencing SPY to achieve dual directional returns. Aims for positive returns regardless of SPY's performance, with a 10% buffer against losses exceeding a specified threshold.
Inception date
September 19, 2025
Fund family
First Trust

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Buffer
Warning

Buffer ETF — downside protection at a cost

Defined-outcome funds cap upside (typically 8–20%) in exchange for partial downside protection (9–30%), priced via options. Fees are materially higher than the underlying index (often 0.70%+ vs 0.03–0.10%). For most pre-retirees, a simple stock/bond mix achieves similar downside behaviour at a fraction of the cost.

Source: Morningstar, 'Defined-Outcome ETFs: Useful or Uneconomic?' (2023)

Why we flagged this: strategy=structured_outcome + structured_outcome_strategy

Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More

What's next?

You've reviewed DLAG. Save it to your watchlist to track it alongside the other funds you're weighing.

Data updated on 2026-06-19