DLNVFT Vest U.S. Equity Dual Directional Buffer ETF November
Seeks to provide returns that match the positive price return of the Underlying ETF up to a predetermined upside cap or match the absolute value of the negative price return of the Underlying ETF.
By First Trust · Launched 2025
0.85%
#4,514 of 5,861 · expensive
$20M
#4,477 of 5,861 · small
—
9 months
#4,906 of 5,861 · young
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
What's inside
How Beacon categorizes this fundWhat it actually holds
By weightConcentration
Top 10 holdings = 116.0% of fundconcentrated
Asset 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
Listing
- Exchange
- Cboe BZX
Full fund details
- Objective
- Seeks to provide returns that match the positive price return of the Underlying ETF up to a predetermined upside cap or match the absolute value of the negative price return of the Underlying ETF.
- Strategy
- Invests primarily in FLEX Options referencing the SPDR S&P 500 ETF Trust (SPY) to achieve a dual directional strategy: positive returns up to a 13.98% cap and a 10% buffer against losses exceeding the Inverse Performance Threshold. The Fund aims to provide returns that match the Underlying ETF's performance while limiting downside risk.
- Inception date
- November 21, 2025
- Fund family
- First Trust
Similar funds
Same asset class, closest by strategy & exposureOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
You can build this cheaper yourself
Defined-outcome funds cap your gains (often 8% to 20%) in exchange for cushioning losses by 9% to 30%, priced with options. The fee runs about 0.70% or more, against 0.03% to 0.10% for a plain index fund. For most investors, a simple stock-and-bond mix gives similar protection for far less.
Sources: Morningstar, 'Buffer Funds Are on the Rise, but They May Not Make Sense for Most Investors' (2025)
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 2026-08-04