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Launched · SEC filings

First Trust Dorsey Wright DALI Equity ETF

DALINasdaqFirst TrustC

$27.14+0.13 (+0.48%)

At close: Nov 2, 2026, 4:00 PM ET

C47/ 100

Rank 29 of 46 in Tactical Allocation

C47/100Rank 29 of 46inTactical Allocation
Intraday session: up, 78 prints from 27.01 to 27.14. Range 26.72 to 28.49. Use the arrow keys to read each point.27.5028.0028.5010 AM12 PM2 PM4 PM
Expense ratio
0.91%
Fund size
$93M
1Y total return
−3.6%
Yield · Last 12 months
1.66%
Holdings
7
Avg volume · 30D
6.36K sh
52W range
low $26.65high $31.46
Launched
Filings
SEC EDGAR

The ETF.net DALI Grade

Based on 5 of 6 pillars

C

Score 47 out of 100

Category
Tactical Allocation⁠
Rank
29 of 46
Six-pillar profile for DALI. Scores out of 100: Cost 53, Risk 15, Mission not scored, Tradability 63, Holdings 40, Durability 85. Strongest: Durability (85). Weakest: Risk (15). Based on 5 of 6 pillars.

Score 47 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    C53 out of 100
    Rank 21 of 46

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    F15 out of 100
    Rank 44 of 46

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B63 out of 100
    Rank 12 of 46

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C40 out of 100
    Rank 31 of 43

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A85 out of 100
    Rank 2 of 46

Our read on DALI

ETF.net Research

In short

CTactical, but only inside the stock market. DALI uses Dorsey Wright relative-strength rankings to lean US or international, then buys ETFs to express the call. One decision, rules-based, no exit to cash.

Stated mandate

The fund seeks returns generally corresponding to the Nasdaq Dorsey Wright DALI EquityTM Index. The index uses relative-strength analysis to select between domestic and international equity and allocates among ETFs providing exposure to the selected asset class.

Why people hold it

  • The whole thesis is one call: US stocks or international. Relative-strength rules make it, and the fund holds ETFs to express it.ftportfolios.com
  • Momentum is the advertised screen, run through Dorsey Wright's Dynamic Asset Level Investing framework, so shifts follow measured trend strength instead of a manager's read.ftportfolios.com
  • Equity-only by design, spanning US, developed international and emerging markets. Trading since 2018, so the rules have run live through several very different markets.
  • The 0.91% expense ratio sits slightly under the norm for tactical multi-asset funds, and distributions come quarterly.

Worth knowing

  • 0.91% is only cheap by tactical standards. Rules-based rivals like ENDW at 0.22% and ONOF at 0.39% do their own switching for far less.
  • Relative strength is backward-looking by construction: the signal turns after a trend shows up, so inflection points get caught late.
  • It trades thinly, so spreads can run wider than in the category's most active names. A small fund by ETF standards, too.

DALI Holdings

Holdings pillarC40 out of 100Rank 31 of 43 in Tactical Allocation
Asset class
Stocks
Holdings
7
Top-10 weight
100%
Largest holding
FDT30.5%

Sectors

  • Industrials25.7%
  • Technology14.9%
  • Financials9.8%
  • Consumer Discretionary9.8%
  • Energy9.2%
  • Materials8.7%
  • Health Care5.4%
  • Utilities5.0%
  • Consumer Staples4.1%
  • Real Estate3.8%
  • Communication3.7%

Geography

  • Germany18.47%
  • Japan10.66%
  • China8.26%
  • South Korea6.98%
  • Taiwan5.46%
  • United Kingdom5.12%
  • France4.66%
  • Australia3.40%
  • Other countries (30)36.99%

Developed 68% · Emerging 32% of the foreign sleeve

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1FDTFirst Trust Developed Markets ex-US AlphaDEX® Fund30.46%320,544$28.4M2
2FEMFirst Trust Emerging Markets AlphaDEX® Fund17.06%512,632$15.9M1
3FEPFirst Trust Europe AlphaDEX® Fund13.66%225,320$12.7M2
4FEUZFirst Trust Eurozone AlphaDEX® ETF13.39%197,509$12.5M2
5FGMFirst Trust Germany AlphaDEX® Fund13.25%214,536$12.3M2
6FPAFirst Trust Asia Pacific ex-Japan AlphaDEX® Fund12.09%256,550$11.3M2
7No dataUS Dollar0.09%85,035$85K408

Showing 1–7 of 7 holdings

DALI Performance

Launched May 14, 2018

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.
DALI$9,641
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. DALI $9,641. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for DALI. Periods over one year show the average yearly return.
PeriodDALI
Year to date−4.7%
1 month−4.5%
3 months−3.4%
1 year−3.6%
3 yearsper year+6.8%
5 yearsper year+1.5%
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for DALI
YearReturn barDALI
2026 YTD−4.7%
2025+11.9%
2024+19.9%
2023−8.5%
2022−8.1%
2021+22.3%
2020+4.5%

DALI in the news

DALI Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
1.66%Last 12 months
Payout per share
$0.45Last 12 months
Last payment
$0.15 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2018–2026

One bar per payment. 26 payments from 2018 to 2026 YTD. Jun 21, 2018 $0.02; Sep 14, 2018 $0.01; Mar 21, 2019 $0.0078; Sep 25, 2019 $0.04; Dec 13, 2019 $0.04; Mar 26, 2020 $0.02; Jun 25, 2020 $0.13; Sep 24, 2020 $0.11; Dec 24, 2020 $0.0056; Sep 23, 2021 $0.0009; Dec 23, 2021 $0.03; Dec 23, 2022 $0.12; Mar 24, 2023 $0.06; Jun 27, 2023 $0.46; Sep 22, 2023 $0.0084; Dec 22, 2023 $0.20; Mar 21, 2024 $0.0046; Sep 26, 2024 $0.02; Dec 13, 2024 $0.02; Mar 27, 2025 $0.01; Jun 26, 2025 $0.02; Sep 25, 2025 $0.04; Dec 12, 2025 $0.04; Mar 26, 2026 $0.02; Jun 25, 2026 $0.25; Sep 24, 2026 $0.15. Use the arrow keys to read each point.201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Sep 24, 2026Sep 30, 2026$0.15
Jun 25, 2026Jun 30, 2026$0.25
Mar 26, 2026Mar 31, 2026$0.02
Dec 12, 2025Dec 31, 2025$0.04
Sep 25, 2025Sep 30, 2025$0.04
Jun 26, 2025Jun 30, 2025$0.02
Mar 27, 2025Mar 31, 2025$0.01
Dec 13, 2024Dec 31, 2024$0.02
Sep 26, 2024Sep 30, 2024$0.02
Mar 21, 2024Mar 28, 2024$0.0046
Dec 22, 2023Dec 29, 2023$0.20
Sep 22, 2023Sep 29, 2023$0.0084

See all 27 payments⁠

$10,000 in DALI 5 years ago paid $531 in dividends.⁠

DALI Risk

Risk pillarF15 out of 100Rank 44 of 46 in Tactical Allocation
How much the fund’s monthly returns vary, scaled to a year.
15.4%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.21
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−26.3%
Trough Dec 2023
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.17
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

DALI Cost

Compare DALI and ENDW

Overpaying vs ENDW, cheapest in Tactical Allocation

$12,649

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • DALI 0.91%

    $17,207

  • ENDW 0.22% Cheapest

    $4,558

$10,000
30 years

Cost over time

  • DALI 0.91%
  • ENDW 0.22%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530DALI $17,207ENDW $4,558

Year by year

YearDALIENDWOverpaying
10$1,610$401$1,209
20$6,076$1,561$4,515
30$17,207$4,558$12,649

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