DLFE Alternatives & Similar ETFs

FT Vest U.S. Equity Dual Directional Buffer ETF - February (DLFE) belongs to the Defined Outcome category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with DLFE. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to DLFE

DLFE charges 0.85% annually. There are 209 ETFs in the Defined Outcome category with lower expense ratios, going as low as 0.25%.

Symbol	Name	Expense Ratio	AUM	Inception
JANB	Aptus January Buffer ETF	0.25%	—	Oct 2025	DLFE vs JANB
APRB	Aptus April Buffer ETF	0.25%	—	Oct 2025	DLFE vs APRB
JULB	Aptus July Buffer ETF	0.25%	—	Oct 2025	DLFE vs JULB
OCTB	Aptus October Buffer ETF	0.25%	—	Oct 2025	DLFE vs OCTB
FBUF	Fidelity Dynamic Buffered Equity ETF	0.48%	—	Apr 2024	DLFE vs FBUF

Best Risk-Adjusted Alternatives to DLFE

Among 220 ETFs in the Defined Outcome category with risk / return rank data, the top risk-adjusted alternatives shown here go as high as 99.

Symbol	Name	Risk / Return Rank	AUM	Inception
PMAP	PGIM S&P 500 Max Buffer ETF - April	99	—	Mar 2025	DLFE vs PMAP
MMAX	iShares Large Cap Max Buffer Mar ETF	99	—	Mar 2025	DLFE vs MMAX
CPSP	Calamos S&P 500 Structured Alt Protection ETF - Ap...	98	18.90M	Apr 2025	DLFE vs CPSP
APXM	FT Vest U.S. Equity Max Buffer ETF - April	98	—	Apr 2025	DLFE vs APXM
ZAPR	Innovator Equity Defined Protection ETF - 1 Yr Apr...	98	—	Apr 2025	DLFE vs ZAPR

Top Performing DLFE Alternatives (YTD)

Among 275 ETFs in the Defined Outcome category with YTD return data, the top-performing alternatives shown here go as high as 14.63%.

Symbol	Name	YTD Return	AUM	Inception
NVDO	Leverage Shares 2x Capped Accelerated NVDA Monthly...	14.63%	—	Aug 2025	DLFE vs NVDO
QMAR	FT Cboe Vest Nasdaq-100 Buffer ETF - March	11.34%	557.94M	Mar 2021	DLFE vs QMAR
KFEB	Innovator U.S. Small Cap Power Buffer ETF - Februa...	10.58%	—	Jan 2025	DLFE vs KFEB
PQAP	PGIM Nasdaq-100 Buffer 12 ETF - April	10.55%	7.34M	Dec 2024	DLFE vs PQAP
KAPR	Innovator Russell 2000 Power Buffer ETF - April	10.16%	214.88M	Mar 2020	DLFE vs KAPR

Lowest Volatility Alternatives to DLFE

DLFE has 8.01% 1-year volatility. There are 215 ETFs in the Defined Outcome category with lower 1-year volatility, going as low as 1.07%.

Symbol	Name	Volatility 1Y	AUM	Inception
APXM	FT Vest U.S. Equity Max Buffer ETF - April	1.07%	—	Apr 2025	DLFE vs APXM
PMAP	PGIM S&P 500 Max Buffer ETF - April	1.17%	—	Mar 2025	DLFE vs PMAP
PMMY	PGIM S&P 500 Max Buffer ETF - May	1.18%	—	Apr 2025	DLFE vs PMMY
MMAX	iShares Large Cap Max Buffer Mar ETF	1.42%	—	Mar 2025	DLFE vs MMAX
CPSP	Calamos S&P 500 Structured Alt Protection ETF - Ap...	1.43%	18.90M	Apr 2025	DLFE vs CPSP

Lowest Drawdown Alternatives to DLFE

Among 220 ETFs in the Defined Outcome category with 1-year drawdown data, the lowest-drawdown alternatives shown here go as shallow as -0.34%.

Symbol	Name	Max Drawdown 1Y	AUM	Inception
PMAP	PGIM S&P 500 Max Buffer ETF - April	-0.34%	—	Mar 2025	DLFE vs PMAP
MMAX	iShares Large Cap Max Buffer Mar ETF	-0.35%	—	Mar 2025	DLFE vs MMAX
PMMY	PGIM S&P 500 Max Buffer ETF - May	-0.36%	—	Apr 2025	DLFE vs PMMY
CPSP	Calamos S&P 500 Structured Alt Protection ETF - Ap...	-0.37%	18.90M	Apr 2025	DLFE vs CPSP
APXM	FT Vest U.S. Equity Max Buffer ETF - April	-0.38%	—	Apr 2025	DLFE vs APXM

Other ETFs from First Trust

The 10 most viewed First Trust ETFs shown here include CIBR, GRID, NFTY and span 11 categories. AUM among these funds goes as high as $14B.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
CIBR	First Trust NASDAQ Cybersecurity ETF	Cybersecurity, Technology Equities	22	21.55%	13.68B	Jul 2015	DLFE vs CIBR
GRID	First Trust NASDAQ Clean Edge Smart Grid Infrastru...	Alternative Energy Equities	70	22.65%	11.29B	Nov 2009	DLFE vs GRID
NFTY	First Trust India NIFTY 50 Equal Weight ETF	Asia Pacific Equities	4	-9.95%	133.88M	Feb 2012	DLFE vs NFTY
AIRR	First Trust RBA American Industrial Renaissance ET...	Building & Construction	79	30.23%	10.62B	Mar 2014	DLFE vs AIRR
FDL	First Trust Morningstar Dividend Leaders Index Fun...	Large Cap Value Equities, Dividend	79	14.42%	7.39B	Mar 2006	DLFE vs FDL
IGLD	FT Cboe Vest Gold Strategy Target Income ETF	Precious Metals, Gold	26	-0.86%	591.41M	Mar 2021	DLFE vs IGLD
FTXL	First Trust Nasdaq Semiconductor ETF	Semiconductors, Technology Equities	96	88.68%	2.52B	Sep 2016	DLFE vs FTXL
TDIV	First Trust NASDAQ Technology Dividend Index Fund	Technology Equities, Dividend	68	21.15%	4.66B	Aug 2012	DLFE vs TDIV
KNG	FT Cboe Vest S&P 500 Dividend Aristocrats Target I...	Dividend, S&P 500	26	3.81%	3.28B	Mar 2018	DLFE vs KNG
QCLN	First Trust NASDAQ Clean Edge Green Energy Index F...	Alternative Energy Equities	83	37.69%	895.30M	Feb 2007	DLFE vs QCLN

Often Compared With DLFE

Investors most often compare DLFE with BAPR, TMAR, ZMAY. These 5 comparison targets span 1 categories, based on PortfoliosLab usage data.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
BAPR	Innovator U.S. Equity Buffer ETF - April	Defined Outcome	96	9.90%	401.85M	Mar 2019	DLFE vs BAPR
TMAR	FT Vest Emerging Markets Buffer ETF - March	Defined Outcome	85	10.14%	—	Mar 2025	DLFE vs TMAR
ZMAY	Innovator Equity Defined Protection ETF - 1 Yr May	Defined Outcome	97	1.80%	—	May 2025	DLFE vs ZMAY
UXJL	FT Vest U.S. Equity Uncapped Accelerator ETF - Jul...	Defined Outcome	—	8.90%	—	Jul 2025	DLFE vs UXJL
UXJA	FT Vest U.S. Equity Uncapped Accelerator ETF - Jan...	Defined Outcome	64	9.04%	—	Jan 2025	DLFE vs UXJA

Compare DLFE with Any Fund or Stock

Compare DLFE with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.

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Diversifiers

Pair DLFE with funds that move differently

FT Vest U.S. Equity Dual Directional Buffer ETF - February alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to DLFE.

Explore DLFE Diversifiers

FT Vest U.S. Equity Dual Directional Buffer ETF - February (DLFE) Alternatives