DLFEFT Vest U.S. Equity Dual Directional Buffer ETF - February
By First Trust · Launched 2026
0.85%
#4,336 of 5,562 · expensive
$65M
#3,331 of 5,562 · mid-size
—
4 months
#5,265 of 5,562 · young
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
Classification
How Beacon categorizes this fundWhat it actually holds
By weightAsset allocation
Risk profile
Last 12 months · Sharpe & Sortino need 3+ yearsWorst peak-to-trough loss
Needs 3+ years of history
Needs 3+ years of history
Where to buy
Listing
- Exchange
- Cboe BZX, NYSE American
Full fund details
- Strategy
- Invests primarily in FLEX Options referencing SPY to provide returns matching its positive price return up to a cap or its negative price return up to a threshold, while offering a 10% buffer against losses exceeding the threshold over a one-year period. The Fund employs a target outcome strategy to achieve these returns, resetting its FLEX Options at the start of each new Target Outcome Period, which begins after the previous period ends. The Fund is designed to provide dual directional returns based on SPY's performance.
- Inception date
- February 19, 2026
- Fund family
- First Trust
Similar ETFs
Closest matches by profileOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
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
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Data updated on 2026-06-19