DALI vs. TDSC

Last updated Jun 4, 2026

DALI (First Trust Dorsey Wright DALI 1 ETF) and TDSC (Cabana Target Drawdown 10 ETF) are both Tactical Allocation funds. DALI is passively managed, while TDSC is actively managed. Over the past 5 years, DALI returned 5.41%/yr vs 3.28%/yr for TDSC. A 0.61 correlation means they provide meaningful diversification when combined. DALI charges 0.90%/yr vs 0.69%/yr for TDSC.

Performance

DALI vs. TDSC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Dorsey Wright DALI 1 ETF (DALI) and Cabana Target Drawdown 10 ETF (TDSC). 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 lower than TDSC's 11.42% return.

DALI

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

TDSC

• 1D: -0.14%
• 1M: 3.77%
• YTD: 11.42%
• 6M: 10.93%
• 1Y: 19.88%
• 3Y*: 11.01%
• 5Y*: 3.28%
• 10Y*: —

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

DALI vs. TDSC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
DALI First Trust Dorsey Wright DALI 1 ETF	7.72%	11.89%	19.93%	-8.48%	-8.10%	22.28%	22.96%
TDSC Cabana Target Drawdown 10 ETF	11.42%	6.56%	7.10%	7.63%	-19.67%	14.81%	-0.11%

Correlation

The correlation between DALI and TDSC is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (All Time) Calculated using the full available price history since Sep 18, 2020	0.61

The correlation between DALI and TDSC shifts across timeframes, from 0.60 (5 years) to 0.78 (1 year), reflecting how their relationship changes across market environments.

DALI vs. TDSC - Sectors Allocation Comparison

Sectors	DALI	TDSC
Industrials	29.9%	2.0%
Financial Services	10.5%	3.9%
Technology	10.5%	28.5%
Basic Materials	9.9%	0.7%
Energy	9.6%	17.6%
Consumer Cyclical	9.1%	4.3%
Utilities	5.5%	15.0%
Real Estate	5.3%	0.1%
Consumer Defensive	3.5%	3.4%
Healthcare	3.3%	19.9%
Communication Services	3.0%	4.7%

Return for Risk

DALI vs. TDSC — 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

TDSC

TDSC Risk / Return Rank: 71
TDSC Sharpe Ratio Rank: 68
TDSC Sortino Ratio Rank: 69
TDSC Omega Ratio Rank: 67
TDSC Calmar Ratio Rank: 75
TDSC Martin Ratio Rank: 76

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. TDSC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Dorsey Wright DALI 1 ETF (DALI) and Cabana Target Drawdown 10 ETF (TDSC). 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	TDSC	Difference
Sharpe ratio: Return per unit of total volatility	1.24	2.25	-1.01
Sortino ratio: Return per unit of downside risk	1.77	3.17	-1.40
Omega ratio: Gain probability vs. loss probability	1.23	1.40	-0.18
Calmar ratio: Return relative to maximum drawdown	1.71	3.74	-2.03
Martin ratio: Return relative to average drawdown	6.33	14.51	-8.18
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. TDSC - Sharpe Ratio Comparison

The current DALI Sharpe Ratio is 1.24, which is lower than the TDSC Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of DALI and TDSC, 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	TDSC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.24	2.25	-1.01
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	0.41	-0.10

Drawdowns

DALI vs. TDSC - Drawdown Comparison

The maximum DALI drawdown since its inception was -36.06%, which is greater than TDSC's maximum drawdown of -21.51%. Use the drawdown chart below to compare losses from any high point for DALI and TDSC.

Drawdown Indicators

	DALI	TDSC	Difference
Max Drawdown Largest peak-to-trough decline	-36.06%	-21.51%	-14.55%
Max Drawdown (1Y) Largest decline over 1 year	-12.54%	-5.35%	-7.19%
Max Drawdown (3Y) Largest decline over 3 years	-23.30%	-14.24%	-9.06%
Max Drawdown (5Y) Largest decline over 5 years	-26.26%	-21.51%	-4.75%
Current Drawdown Current decline from peak	-1.40%	-0.14%	-1.26%
Average Drawdown Average peak-to-trough decline	-10.14%	-9.38%	-0.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.38%	1.37%	+2.01%

Volatility

DALI vs. TDSC - Volatility Comparison

First Trust Dorsey Wright DALI 1 ETF (DALI) has a higher volatility of 6.49% compared to Cabana Target Drawdown 10 ETF (TDSC) at 2.06%. This indicates that DALI's price experiences larger fluctuations and is considered to be riskier than TDSC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DALI	TDSC	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.49%	2.06%	+4.43%
Volatility (6M) Calculated over the trailing 6-month period	14.37%	6.61%	+7.76%
Volatility (1Y) Calculated over the trailing 1-year period	17.31%	8.90%	+8.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.66%	10.28%	+9.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.92%	10.22%	+10.70%

DALI vs. TDSC - Expense Ratio Comparison

DALI has a 0.90% expense ratio, which is higher than TDSC's 0.69% expense ratio.

Dividends

DALI vs. TDSC - Dividend Comparison

DALI's dividend yield for the trailing twelve months is around 0.38%, less than TDSC's 2.01% 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%
TDSC Cabana Target Drawdown 10 ETF	2.01%	2.92%	2.06%	2.06%	1.76%	1.11%	0.54%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DALI and TDSC in my portfolio?

DALI and TDSC have a correlation of 0.78, 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 TDSC?

DALI has higher volatility (6.49%) compared to TDSC (2.06%). In terms of maximum drawdown, DALI dropped -36.06% vs TDSC's -21.51%.

Which ETF is better, DALI or TDSC?

On 5-year performance, DALI leads with 5.41% vs 3.28% for TDSC. On fees, TDSC is cheaper at 0.69% per year. On volatility, TDSC has been the lower-risk option at 2.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DALI or TDSC?

Over the 5-year period, DALI has performed better with a 5.41% return vs 3.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DALI or TDSC?

TDSC is cheaper with a 0.69% expense ratio, compared with 0.90% for DALI.

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

TDSC has the higher dividend yield at 2.01%, compared with 0.38% for DALI.

What is the main difference between DALI and TDSC?

They also come from different issuers: First Trust and Exchange Traded Concepts. Their fees differ too: 0.90% for DALI and 0.69% for TDSC.

Which has better risk-adjusted returns?

TDSC currently has the higher Sharpe Ratio (2.25 vs 1.24), 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.