DLFE vs. KFEB

Last updated Jun 6, 2026

DLFE (FT Vest U.S. Equity Dual Directional Buffer ETF - February) and KFEB (Innovator U.S. Small Cap Power Buffer ETF - February) are both Defined Outcome funds. DLFE is passively managed, while KFEB is actively managed. Their correlation of 0.84 suggests significant overlap in exposure. DLFE charges 0.85%/yr vs 0.79%/yr for KFEB.

Performance

DLFE 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 - February (DLFE) 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

DLFE

• 1D: -0.74%
• 1M: 0.34%
• YTD: —
• 6M: —
• 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)

DLFE vs. KFEB - Yearly Performance Comparison

	2026 (YTD)
DLFE FT Vest U.S. Equity Dual Directional Buffer ETF - February	4.27%
KFEB Innovator U.S. Small Cap Power Buffer ETF - February	4.67%

Correlation

The correlation between DLFE and KFEB is 0.84, 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 Feb 24, 2026	0.84

Return for Risk

DLFE 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.

DLFE 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 - February (DLFE) 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

	DLFE	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	1.98	1.12	+0.87

Drawdowns

DLFE vs. KFEB - Drawdown Comparison

The maximum DLFE drawdown since its inception was -5.03%, smaller than the maximum KFEB drawdown of -14.16%. Use the drawdown chart below to compare losses from any high point for DLFE and KFEB.

Drawdown Indicators

	DLFE	KFEB	Difference
Max Drawdown Largest peak-to-trough decline	-5.03%	-14.16%	+9.13%
Max Drawdown (1Y) Largest decline over 1 year	—	-5.80%	—
Current Drawdown Current decline from peak	-0.88%	-1.49%	+0.61%
Average Drawdown Average peak-to-trough decline	-0.98%	-2.32%	+1.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.59%	—

Volatility

Volatility by Period

	DLFE	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	8.01%	11.09%	-3.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.01%	13.31%	-5.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.01%	13.31%	-5.30%

DLFE vs. KFEB - Expense Ratio Comparison

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

Dividends

DLFE vs. KFEB - Dividend Comparison

Neither DLFE nor KFEB has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both DLFE and KFEB in my portfolio?

DLFE and KFEB have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DLFE 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, DLFE or KFEB?

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

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

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

What is the main difference between DLFE and KFEB?

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