DLAG vs. XBAP

Last updated Jul 11, 2026

DLAG (FT Vest U.S. Equity Dual Directional Buffer ETF - August) and XBAP (Innovator U.S. Equity Accelerated 9 Buffer ETF - April) are both Defined Outcome funds. Both are actively managed. Their correlation of 0.81 suggests significant overlap in exposure. DLAG charges 0.85%/yr vs 0.79%/yr for XBAP.

Performance

DLAG vs. XBAP - 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. Equity Accelerated 9 Buffer ETF - April (XBAP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DLAG achieves a 6.26% return, which is significantly lower than XBAP's 9.00% return.

DLAG

• 1D: 0.17%
• 1M: 1.25%
• 6M: 5.38%
• YTD: 6.26%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

XBAP

• 1D: 0.21%
• 1M: 1.36%
• 6M: 8.77%
• YTD: 9.00%
• 1Y: 14.10%
• 3Y*: 13.33%
• 5Y*: 9.68%
• 10Y*: —

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

DLAG vs. XBAP - Yearly Performance Comparison

	2026 (YTD)	2025
DLAG FT Vest U.S. Equity Dual Directional Buffer ETF - August	6.26%	2.31%
XBAP Innovator U.S. Equity Accelerated 9 Buffer ETF - April	9.00%	2.31%

Correlation

The correlation between DLAG and XBAP is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 22, 2025	0.81

Return for Risk

DLAG vs. XBAP — Risk / Return Rank

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

DLAG

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

XBAP

XBAP Risk / Return Rank: 98
XBAP Sharpe Ratio Rank: 98
XBAP Sortino Ratio Rank: 98
XBAP Omega Ratio Rank: 98
XBAP Calmar Ratio Rank: 98
XBAP Martin Ratio Rank: 98

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. XBAP - 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. Equity Accelerated 9 Buffer ETF - April (XBAP). 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.

	DLAG	XBAP	Difference
Sharpe ratio: Return per unit of total volatility	—	4.03	—
Sortino ratio: Return per unit of downside risk	—	7.19	—
Omega ratio: Gain probability vs. loss probability	—	2.03	—
Calmar ratio: Return relative to maximum drawdown	—	11.05	—
Martin ratio: Return relative to average drawdown	—	60.09	—

Drawdowns

DLAG vs. XBAP - Drawdown Comparison

The maximum DLAG drawdown since its inception was -4.23%, smaller than the maximum XBAP drawdown of -14.57%. Use the drawdown chart below to compare losses from any high point for DLAG and XBAP.

Drawdown Indicators

	DLAG	XBAP	Difference
Max Drawdown Largest peak-to-trough decline	-4.23%	-14.57%	+10.34%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.30%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-8.25%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-14.57%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.53%	-1.72%	+1.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.24%	—

Volatility

Volatility by Period

	DLAG	XBAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.31%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.97%	—
Volatility (1Y) Calculated over the trailing 1-year period	6.31%	3.55%	+2.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.31%	9.97%	-3.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.31%	9.80%	-3.49%

DLAG vs. XBAP - Expense Ratio Comparison

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

Dividends

DLAG vs. XBAP - Dividend Comparison

Neither DLAG nor XBAP has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both DLAG and XBAP in my portfolio?

DLAG and XBAP have a correlation of 0.81, 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 XBAP?

On fees, XBAP 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 XBAP?

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

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

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

What is the main difference between DLAG and XBAP?

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