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DLFE

GradeDChicago Board Options Exchange

First Trust Exchange-Traded Fund VIII - FT Vest U.S. Equity Dual Directional Buffer ETF - February

Dual Directional · First Trust · Inception 2026-02-20 · SEC filings

$32.49−0.07 (−0.21%)

As of Sep 23, 2026, 2:14 PM EDT

History starts Feb 23, 2026.History starts Feb 23, 2026.
Intraday session: down, 4 prints from 32.56 to 32.49. Range 32.49 to 32.60. Use the arrow keys to read each point.$32.52$32.55$32.58$32.6010 AM12 PM2 PM4 PM
Expense ratio
0.85%
Fund size
$68M
1Y return
—
Yield · Last 12 months
—
Holdings
5
Volume · 30D
0M sh
NAV per share
$32.54
52W range
low $28.82high $32.58

The ETF.net DLFE Grade

D

33/ 100

Rank 10 of 11 in S&P 500 Dual Directional, 9-12% Buffer⁠

Confidence Low

Six-pillar profile for DLFE. Scores out of 100: Cost 21, Risk 58, Mission not scored, Tradability 22, Holdings not scored, Durability 66. Strongest: Durability (66). Weakest: Cost (21). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 33 of 100 sits in the D band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    FScore 21
    Category rank9/11 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    BScore 58
    Category rank3/11 · top 27%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    FScore 22
    Category rank11/11 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 66
    Category rank1/11 · top 9%

Graded as of Sep 22, 2026 · Based on 4 of 6 pillars

DLFE Holdings

As of Sep 21, 2026, 5:36 PM
Asset class
Other
Holdings
5
Top-10 weight
108%
Largest holding
2027-02-19 State Street® SPDR® S&P 500® ETF Trust C 6.92102.2%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—2027-02-19 State Street® SPDR® S&P 500® ETF Trust C 6.92102.23%924$70M1
002—2027-02-19 State Street® SPDR® S&P 500® ETF Trust P 689.462.59%1,848$2M1
003—2027-02-19 State Street® SPDR® S&P 500® ETF Trust P 603.282.17%3,696$1M1
004—US Dollar0.65%439,827$440K394

Showing 1–4 of 4 holdings

DLFE Performance

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

DLFE$10,299
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,415
Jun 22, 2026 to Sep 22, 2026. DLFE $10,299. SPY $10,415. Use the arrow keys to read each point.$9,741$10,122$10,502Jun 2026Aug 2026Sep 2026

Jun 22, 2026 – Sep 22, 2026

Returns run to the Sep 22, 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 DLFE. Periods over one year show the average yearly return.
PeriodDLFE
Year to dateFund launched this year—
1 month+0.9%
3 months+3.0%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, 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 DLFE
YearReturn barDLFE
2026 YTD+8.0%

History from Feb 23, 2026

DLFE in the news

ETF.net Research hasn’t filed on DLFE yet — coverage lands here as it’s written.

DLFE 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 Sep 22, 2026.
—Last 12 months
Payout per share
—Last 12 months

Listed Feb 2026. No distributions yet.

DLFE Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Feb 2026; fills in after 12 months
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.
—
Launched Feb 2026; fills in after 12 months
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.
—
Launched Feb 2026; fills in after 12 months
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.
0.50
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.

DLFE Cost

Expense ratio0.85%
  • The middle half of S&P 500 Dual Directional, 9-12% Buffer funds
  • Median 0.79%

5 of the 9 S&P 500 Dual Directional, 9-12% Buffer funds charge less.

DLFE costs $85.00 a year on $10,000. The median S&P 500 Dual Directional, 9-12% Buffer fund costs $79.00.