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DDFZ vs DLNV

Innovator Equity Dual Directional 15 Buffer ETF - June

DDFZBCboe

FT Vest U.S. Equity Dual Directional Buffer ETF - November

DLNVDCboe

Overlap

0.0%by weight

Expense ratio

DDFZ −0.06pt a year

DDFZ0.79%DLNV0.85%

Avg volume · 30D

DDFZ 43.5×the volume

DDFZ42KDLNV965

DDFZ vs DLNV Performance

Jul 31, 2026 – Oct 30, 2026

+1.1%DDFZ+2.1%DLNV

Jul 31, 2026 to Oct 30, 2026. DDFZ +1.1%. DLNV +2.1%. Use the arrow keys to read each point.0%0.5%1.5%2.5%Jul 2026Sep 2026Oct 2026
Expense ratio
DDFZ 0.79%, better
DLNV 0.85%
Fund size
DDFZ $144M
DLNV $20M
Holdings
DDFZ 5
DLNV 4
Avg volume (30D)
DDFZ 42K sh, better
DLNV 965 sh
NAV per share
DDFZ $19.72
DLNV $33.86
52W range

ETF.net Grade

DDFZ: Cost 68, Risk 58, Mission not scored, Tradability 59, Holdings 58, Durability 56. DLNV: Cost 21, Risk 65, Mission not scored, Tradability 42, Holdings 70, Durability 55.
Pillar letters and Scores for DDFZ, DLNV, with each pillar’s weight
PillarDDFZDLNV
Cost30% weightB68HigherF21
Mission25% weightNot scoredNot scored
Risk15% weightB58B65Higher
Tradability15% weightB59HigherC42
Holdings10% weightB58A70Higher
Durability5% weightB56HigherB55

Rank among S&P 500 Dual Directional, 9-12% Buffer funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. DDFZ and DLNV are both graded against the same 9 S&P 500 Dual Directional, 9-12% Buffer funds, so their Grades compare head to head.

S&P 500 Dual Directional, 9-12% Buffer⁠

Category · 9 funds
See all 9 ›

DDFZ ranks 1st and DLNV 7th of 9 funds in the S&P 500 Dual Directional, 9-12% Buffer Category.

  1. Rank 1BDDFZInnovator Equity Dual Directional 15 Buffer ETF - JuneScore 62
  2. Rank 2BDDTDInnovator Equity Dual Directional 10 Buffer ETF - DecemberScore 57
  3. Rank 7DDLFEFT Vest U.S. Equity Dual Directional Buffer ETF - FebruaryScore 38
  4. Rank 7DDLNVFT Vest U.S. Equity Dual Directional Buffer ETF - NovemberScore 38
  5. Rank 9DDQJNFT Vest Nasdaq-100 Dual Directional Buffer ETF - JuneScore 24

Our read on each fund

ETF.net Research

DDFZBInnovator Equity Dual Directional 15 Buffer ETF - June

DLNVDFT Vest U.S. Equity Dual Directional Buffer ETF - November

In short

DDFZ No data

DLNV Most buffer funds just cushion a drop. This one aims to convert it: if SPY finishes the one-year period down but within 10%, DLNV targets an equal-sized gain, with a 10% buffer on deeper losses. Upside is capped, and the cap resets each November.

Stated mandate

DDFZ No data

DLNV The fund seeks to match SPY's price return up to a preset upside cap, or to match the absolute value of SPY losses through a 10% inverse-performance threshold, while buffering 10% of losses beyond that threshold over approximately one year.

Why people hold it

DDFZ No data

  • DLNV The dual directional twist: a mild market decline can register as a gain, since the fund seeks the absolute value of SPY's loss up to a 10% inverse-performance threshold.ftportfolios.com
  • Past that threshold, a 10% buffer absorbs the first slice of deeper losses. The structure is perpetual: each November the period rolls and a fresh cap is set to market conditions.ftportfolios.com
  • One reference, one job. The portfolio is FLEX options on SPY, so there is no stock picking or index drift to second-guess, just the payoff formula.ftportfolios.com

Worth knowing

DDFZ No data

  • DLNV At 0.85% it charges more than Innovator's dual directional siblings (DDTN, DDTD) at 0.79%, the closest things to a direct comparison in this small niche.
  • The threshold is all-or-nothing at period end: if SPY closes below it, the inverse gains are forfeited and holders get the loss reduced by the buffer instead.sec.gov
  • Launched in 2025, still small and thinly traded, and income is not part of the design. The stated outcomes apply to shares held for the full period.ftportfolios.com

Full DDFZ profile⁠

Full DLNV profile⁠

DDFZ vs DLNV Holdings

How DDFZ and DLNV differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of DDFZ and 0.0% of DLNV.

Level by level

  • Holdings0 in both0.0%
  • Countryby domicile100%

Sector

No Sector split for DLNV.

Country, concentration and asset class

Country by domicile

Country weights in DDFZ and DLNV, widest gap first
CountryMore in DDFZMore in DLNV
United StatesSame weight
SwitzerlandSame weight
ChinaSame weight
MexicoSame weight
IrelandSame weight
United KingdomSame weight

Concentration

Weight in the 10 largest Holdings

  • DDFZ127.6%
  • DLNV102.5%

Securities held

  • DDFZ5
  • DLNV3

Asset class

DDFZ
Equity
DLNV
Multi-Asset

Holdings

  • Only in DDFZ5
  • In both0
  • Only in DLNV3

Only in DDFZ

5 securities, 100% of DDFZ by weight

  • Vanguard S&P 500 ETF96.40%
  • Voo 05/28/2027 584.21 P21.71%
  • Voo 05/28/2027 695.47 P8.41%

Only in DLNV

3 securities, 100% of DLNV by weight

  • 2026-11-20 State Street® SPDR® S&P 500® ETF Trust C 6.62101.70%
  • 2026-11-20 State Street® SPDR® S&P 500® ETF Trust P 659.060.26%
  • 2026-11-20 State Street® SPDR® S&P 500® ETF Trust P 576.680.18%

Weight gaps

DDFZ and DLNV share no securities.

All 9 DDFZ holdings⁠All 5 DLNV holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

DDFZ vs DLNV Cost

Overpaying DLNV vs DDFZ

$1,025

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

  • DDFZ 0.79%

    $15,174

  • DLNV 0.85%

    $16,199

$10,000
30 years

Cost over time

  • DDFZ 0.79%
  • DLNV 0.85%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530DLNV $16,199DDFZ $15,174

Year by year

YearDDFZDLNVOverpaying
10$1,405$1,508$103
20$5,331$5,706$375
30$15,174$16,199$1,025

Expense ratio

  • 0.79%DDFZ, cheaper
  • 0.85%DLNV
  • Middle half of S&P 500 Dual Directional, 9-12% Buffer funds
  • Median 0.79%

DDFZ cheapest of 9 funds

DLNV 6th cheapest of 9 funds

DDFZ vs DLNV Dividends

Last 12 months to Oct 30, 2026
Payout (12M)
DDFZ None
DLNV None

Distribution history

DDFZAll DDFZ payments⁠

No distribution history available.

DLNVAll DLNV payments⁠

No distribution history available.

DDFZ vs DLNV Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

Market sensitivityBeta, 5 years
DDFZ 0.48DLNV 0.47

DDFZ and DLNV in the news

All news⁠

Popular comparisons

  • DDFZBvsDDTDB

    Innovator Equity Dual Directional 15 Buffer ETF - June · Innovator Equity Dual Directional 10 Buffer ETF - December

    Expense ratio
    0.79% · 0.79%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • DLNVDvsDDTDB

    FT Vest U.S. Equity Dual Directional Buffer ETF - November · Innovator Equity Dual Directional 10 Buffer ETF - December

    Expense ratio
    0.85% · 0.79%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • DDFZBvsDDTNB

    Innovator Equity Dual Directional 15 Buffer ETF - June · Innovator Equity Dual Directional 10 Buffer ETF - November

    Expense ratio
    0.79% · 0.79%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • DLNVDvsDDTNB

    FT Vest U.S. Equity Dual Directional Buffer ETF - November · Innovator Equity Dual Directional 10 Buffer ETF - November

    Expense ratio
    0.85% · 0.79%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • DDFZBvsDDTJC

    Innovator Equity Dual Directional 15 Buffer ETF - June · Innovator Equity Dual Directional 10 Buffer ETF - January

    Expense ratio
    0.79% · 0.79%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • DLNVDvsDDTJC

    FT Vest U.S. Equity Dual Directional Buffer ETF - November · Innovator Equity Dual Directional 10 Buffer ETF - January

    Expense ratio
    0.85% · 0.79%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.