DALI vs. KNG

Last updated Jun 4, 2026

DALI (First Trust Dorsey Wright DALI 1 ETF) and KNG (FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF) are both exchange-traded funds - DALI is a Tactical Allocation fund tracking the Dorsey Wright DALI 1 Index, while KNG is a Dividend fund tracking the Cboe S&P 500 Dividend Aristocrats Target Income Index Monthly Series. Both are passively managed. Over the past 5 years, DALI returned 5.41%/yr vs 4.31%/yr for KNG. At a 0.50 correlation, their price movements are largely independent. DALI charges 0.90%/yr vs 0.75%/yr for KNG.

Performance

DALI vs. KNG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Dorsey Wright DALI 1 ETF (DALI) and FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DALI achieves a 7.72% return, which is significantly higher than KNG's 2.20% return.

DALI

• 1D: -0.79%
• 1M: 2.87%
• YTD: 7.72%
• 6M: 8.33%
• 1Y: 21.34%
• 3Y*: 7.87%
• 5Y*: 5.41%
• 10Y*: —

KNG

• 1D: -0.04%
• 1M: 0.89%
• YTD: 2.20%
• 6M: 2.33%
• 1Y: 7.44%
• 3Y*: 7.06%
• 5Y*: 4.31%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

DALI vs. KNG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
DALI First Trust Dorsey Wright DALI 1 ETF	7.72%	11.89%	19.93%	-8.48%	-8.10%	22.28%	4.51%	25.39%	-14.81%
KNG FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF	2.20%	6.63%	5.99%	7.48%	-7.03%	24.78%	7.21%	26.64%	-4.19%

Correlation

The correlation between DALI and KNG is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (All Time) Calculated using the full available price history since May 16, 2018	0.50

The correlation between DALI and KNG has been stable across timeframes, ranging from 0.47 to 0.53 - a consistent structural relationship.

DALI vs. KNG - Sectors Allocation Comparison

Sectors	DALI	KNG
Industrials	29.9%	20.3%
Financial Services	10.5%	12.7%
Technology	10.5%	4.3%
Basic Materials	9.9%	10.2%
Energy	9.6%	3.0%
Consumer Cyclical	9.1%	5.5%
Utilities	5.5%	6.1%
Real Estate	5.3%	4.4%
Consumer Defensive	3.5%	23.5%
Healthcare	3.3%	10.1%
Communication Services	3.0%	-

Return for Risk

DALI vs. KNG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DALI

DALI Risk / Return Rank: 35
DALI Sharpe Ratio Rank: 34
DALI Sortino Ratio Rank: 33
DALI Omega Ratio Rank: 33
DALI Calmar Ratio Rank: 34
DALI Martin Ratio Rank: 40

KNG

KNG Risk / Return Rank: 20
KNG Sharpe Ratio Rank: 21
KNG Sortino Ratio Rank: 21
KNG Omega Ratio Rank: 19
KNG Calmar Ratio Rank: 20
KNG Martin Ratio Rank: 19

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DALI vs. KNG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Dorsey Wright DALI 1 ETF (DALI) and FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	DALI	KNG	Difference
Sharpe ratio: Return per unit of total volatility	1.24	0.73	+0.50
Sortino ratio: Return per unit of downside risk	1.77	1.15	+0.63
Omega ratio: Gain probability vs. loss probability	1.23	1.13	+0.10
Calmar ratio: Return relative to maximum drawdown	1.71	0.87	+0.84
Martin ratio: Return relative to average drawdown	6.33	2.25	+4.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DALI vs. KNG - Sharpe Ratio Comparison

The current DALI Sharpe Ratio is 1.24, which is higher than the KNG Sharpe Ratio of 0.73. The chart below compares the historical Sharpe Ratios of DALI and KNG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DALI	KNG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.24	0.73	+0.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	0.32	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.49	-0.18

Drawdowns

DALI vs. KNG - Drawdown Comparison

The maximum DALI drawdown since its inception was -36.06%, roughly equal to the maximum KNG drawdown of -35.12%. Use the drawdown chart below to compare losses from any high point for DALI and KNG.

Drawdown Indicators

	DALI	KNG	Difference
Max Drawdown Largest peak-to-trough decline	-36.06%	-35.12%	-0.94%
Max Drawdown (1Y) Largest decline over 1 year	-12.54%	-8.61%	-3.93%
Max Drawdown (3Y) Largest decline over 3 years	-23.30%	-14.24%	-9.06%
Max Drawdown (5Y) Largest decline over 5 years	-26.26%	-18.20%	-8.06%
Current Drawdown Current decline from peak	-1.40%	-5.89%	+4.49%
Average Drawdown Average peak-to-trough decline	-10.14%	-4.13%	-6.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.38%	3.32%	+0.06%

Volatility

DALI vs. KNG - Volatility Comparison

First Trust Dorsey Wright DALI 1 ETF (DALI) has a higher volatility of 6.49% compared to FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG) at 2.29%. This indicates that DALI's price experiences larger fluctuations and is considered to be riskier than KNG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DALI	KNG	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.49%	2.29%	+4.20%
Volatility (6M) Calculated over the trailing 6-month period	14.37%	7.39%	+6.98%
Volatility (1Y) Calculated over the trailing 1-year period	17.31%	10.19%	+7.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.66%	13.59%	+6.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.92%	17.18%	+3.74%

DALI vs. KNG - Expense Ratio Comparison

DALI has a 0.90% expense ratio, which is higher than KNG's 0.75% expense ratio.

Dividends

DALI vs. KNG - Dividend Comparison

DALI's dividend yield for the trailing twelve months is around 0.38%, less than KNG's 8.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DALI First Trust Dorsey Wright DALI 1 ETF	0.38%	0.38%	0.18%	3.42%	0.50%	0.11%	1.25%	0.45%	0.17%
KNG FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF	8.67%	8.61%	9.08%	5.91%	4.00%	3.45%	3.62%	4.09%	3.46%

Frequently Asked Questions

Can I hold both DALI and KNG in my portfolio?

DALI and KNG have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DALI or KNG?

DALI has higher volatility (6.49%) compared to KNG (2.29%). In terms of maximum drawdown, DALI dropped -36.06% vs KNG's -35.12%.

Which ETF is better, DALI or KNG?

On 5-year performance, DALI leads with 5.41% vs 4.31% for KNG. On fees, KNG is cheaper at 0.75% per year. On volatility, KNG has been the lower-risk option at 2.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DALI or KNG?

Over the 5-year period, DALI has performed better with a 5.41% return vs 4.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DALI or KNG?

KNG is cheaper with a 0.75% expense ratio, compared with 0.90% for DALI.

Which ETF pays a higher dividend yield, DALI or KNG?

KNG has the higher dividend yield at 8.67%, compared with 0.38% for DALI.

What is the main difference between DALI and KNG?

DALI is categorized as Tactical Allocation, while KNG is Dividend. DALI tracks Dorsey Wright DALI 1 Index, while KNG tracks Cboe S&P 500 Dividend Aristocrats Target Income Index Monthly Series. Their fees differ too: 0.90% for DALI and 0.75% for KNG.

Which has better risk-adjusted returns?

DALI currently has the higher Sharpe Ratio (1.24 vs 0.73), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.