DLAG vs. KFEB

Last updated Jun 6, 2026

DLAG (FT Vest U.S. Equity Dual Directional Buffer ETF - August) and KFEB (Innovator U.S. Small Cap Power Buffer ETF - February) are both Defined Outcome funds. Both are actively managed. A 0.80 correlation means they provide meaningful diversification when combined. DLAG charges 0.85%/yr vs 0.79%/yr for KFEB.

Performance

DLAG vs. KFEB - Performance Comparison

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

Returns By Period

In the year-to-date period, DLAG achieves a 4.75% return, which is significantly lower than KFEB's 10.58% return.

DLAG

• 1D: -0.63%
• 1M: 0.63%
• YTD: 4.75%
• 6M: 5.35%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

KFEB

• 1D: -1.49%
• 1M: -0.41%
• YTD: 10.58%
• 6M: 9.48%
• 1Y: 23.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DLAG vs. KFEB - Yearly Performance Comparison

	2026 (YTD)	2025
DLAG FT Vest U.S. Equity Dual Directional Buffer ETF - August	4.75%	2.18%
KFEB Innovator U.S. Small Cap Power Buffer ETF - February	10.58%	1.36%

Correlation

The correlation between DLAG and KFEB is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 23, 2025	0.80

Return for Risk

DLAG vs. KFEB — Risk / Return Rank

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

KFEB

KFEB Risk / Return Rank: 75
KFEB Sharpe Ratio Rank: 71
KFEB Sortino Ratio Rank: 74
KFEB Omega Ratio Rank: 67
KFEB Calmar Ratio Rank: 82
KFEB Martin Ratio Rank: 81

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.

DLAG vs. KFEB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Dual Directional Buffer ETF - August (DLAG) and Innovator U.S. Small Cap Power Buffer ETF - February (KFEB). 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.

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

Sharpe Ratios by Period

	DLAG	KFEB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.15	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.56	1.12	+0.44

Drawdowns

DLAG vs. KFEB - Drawdown Comparison

The maximum DLAG drawdown since its inception was -4.23%, smaller than the maximum KFEB drawdown of -14.16%. Use the drawdown chart below to compare losses from any high point for DLAG and KFEB.

Drawdown Indicators

	DLAG	KFEB	Difference
Max Drawdown Largest peak-to-trough decline	-4.23%	-14.16%	+9.93%
Max Drawdown (1Y) Largest decline over 1 year	—	-5.80%	—
Current Drawdown Current decline from peak	-0.63%	-1.49%	+0.86%
Average Drawdown Average peak-to-trough decline	-0.56%	-2.32%	+1.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.59%	—

Volatility

Volatility by Period

	DLAG	KFEB	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.80%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.83%	—
Volatility (1Y) Calculated over the trailing 1-year period	6.54%	11.09%	-4.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.54%	13.31%	-6.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.54%	13.31%	-6.77%

DLAG vs. KFEB - Expense Ratio Comparison

DLAG has a 0.85% expense ratio, which is higher than KFEB's 0.79% expense ratio.

Dividends

DLAG vs. KFEB - Dividend Comparison

Neither DLAG nor KFEB has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both DLAG and KFEB in my portfolio?

DLAG and KFEB have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DLAG or KFEB?

On fees, KFEB 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, DLAG or KFEB?

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

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

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

What is the main difference between DLAG and KFEB?

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