DDFL vs. DLAG

Last updated Aug 1, 2026

DDFL (Innovator Equity Dual Directional 15 Buffer ETF - July) and DLAG (FT Vest U.S. Equity Dual Directional Buffer ETF - August) are both Defined Outcome funds. Both are actively managed. Their 0.78 correlation means they have sometimes moved together and sometimes differently. DDFL charges 0.79%/yr vs 0.85%/yr for DLAG.

Performance

DDFL vs. DLAG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Equity Dual Directional 15 Buffer ETF - July (DDFL) and FT Vest U.S. Equity Dual Directional Buffer ETF - August (DLAG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DDFL achieves a 3.63% return, which is significantly lower than DLAG's 6.56% return.

DDFL

• 1D: 0.24%
• 1M: 0.52%
• 6M: 3.32%
• YTD: 3.63%
• 1Y: 8.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.07%

DLAG

• 1D: 0.34%
• 1M: 0.81%
• 6M: 5.75%
• YTD: 6.56%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DDFL Innovator Equity Dual Directional 15 Buffer ETF - July	$2.70M	$3.47M	$2.07M
DLAG FT Vest U.S. Equity Dual Directional Buffer ETF - August	$11.62K	$80.34K	$219.50K

DDFL vs. DLAG - Yearly Performance Comparison

	2026 (YTD)	2025
DDFL Innovator Equity Dual Directional 15 Buffer ETF - July	3.63%	1.73%
DLAG FT Vest U.S. Equity Dual Directional Buffer ETF - August	6.56%	2.31%

Correlation

The correlation between DDFL and DLAG is 0.78, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 22, 2025	0.78

Return for Risk

DDFL vs. DLAG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DDFL

DDFL Risk / Return Rank: 93
DDFL Sharpe Ratio Rank: 91
DDFL Sortino Ratio Rank: 93
DDFL Omega Ratio Rank: 93
DDFL Calmar Ratio Rank: 94
DDFL Martin Ratio Rank: 96

DLAG

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DDFL vs. DLAG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Dual Directional 15 Buffer ETF - July (DDFL) and FT Vest U.S. Equity Dual Directional Buffer ETF - August (DLAG). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	DDFL	DLAG	Difference
Sharpe ratio: Return per unit of total volatility	2.30	—	—
Sortino ratio: Return per unit of downside risk	3.58	—	—
Omega ratio: Gain probability vs. loss probability	1.48	—	—
Calmar ratio: Return relative to maximum drawdown	4.71	—	—
Martin ratio: Return relative to average drawdown	23.00	—	—

Drawdowns

DDFL vs. DLAG - Drawdown Comparison

The maximum DDFL drawdown since its inception was -1.83%, smaller than the maximum DLAG drawdown of -4.23%. Use the drawdown chart below to compare losses from any high point for DDFL and DLAG.

Drawdown Indicators

	DDFL	DLAG	Difference
Max Drawdown Largest peak-to-trough decline	-1.83%	-4.23%	+2.40%
Max Drawdown (1Y) Largest decline over 1 year	-1.63%	—	—
Current Drawdown Current decline from peak	-0.07%	0.00%	-0.07%
Average Drawdown Average peak-to-trough decline	-0.30%	-0.51%	+0.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.33%	—	—

Volatility

Volatility by Period

	DDFL	DLAG	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.26%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.44%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.35%	6.22%	-2.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.71%	6.22%	-2.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.71%	6.22%	-2.51%

DDFL vs. DLAG - Expense Ratio Comparison

DDFL has a 0.79% expense ratio, which is lower than DLAG's 0.85% expense ratio.

Dividends

DDFL vs. DLAG - Dividend Comparison

Neither DDFL nor DLAG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both DDFL and DLAG in my portfolio?

DDFL and DLAG 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 ETF is better, DDFL or DLAG?

On fees, DDFL is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DDFL or DLAG?

DDFL is cheaper with a 0.79% expense ratio, compared with 0.85% for DLAG.

Which ETF pays a higher dividend yield, DDFL or DLAG?

DDFL and DLAG have nearly identical dividend yields, around 0.00%.

What is the main difference between DDFL and DLAG?

They also come from different issuers: Innovator and First Trust. Their fees differ too: 0.79% for DDFL and 0.85% for DLAG.