DLNV vs. CIBR

Last updated Jun 24, 2026

DLNV (FT Vest U.S. Equity Dual Directional Buffer ETF - November) and CIBR (First Trust NASDAQ Cybersecurity ETF) are both exchange-traded funds - DLNV is a Defined Outcome fund tracking the SPDR S&P 500 ETF Trust (SPY), while CIBR is a Cybersecurity fund tracking the Nasdaq CTA Cybersecurity Index. Both are passively managed. At a 0.43 correlation, their price movements are largely independent. DLNV charges 0.85%/yr vs 0.60%/yr for CIBR.

Performance

DLNV vs. CIBR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest U.S. Equity Dual Directional Buffer ETF - November (DLNV) and First Trust NASDAQ Cybersecurity ETF (CIBR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DLNV achieves a 4.86% return, which is significantly lower than CIBR's 18.06% return.

DLNV

• 1D: -0.41%
• 1M: -0.00%
• YTD: 4.86%
• 6M: 4.58%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CIBR

• 1D: 0.75%
• 1M: -0.08%
• YTD: 18.06%
• 6M: 15.86%
• 1Y: 15.20%
• 3Y*: 24.74%
• 5Y*: 12.80%
• 10Y*: 17.93%

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

DLNV vs. CIBR - Yearly Performance Comparison

	2026 (YTD)	2025
DLNV FT Vest U.S. Equity Dual Directional Buffer ETF - November	4.86%	1.88%
CIBR First Trust NASDAQ Cybersecurity ETF	18.06%	0.12%

Correlation

The correlation between DLNV and CIBR is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 24, 2025	0.43

Return for Risk

DLNV vs. CIBR — Risk / Return Rank

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

DLNV

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

CIBR

CIBR Risk / Return Rank: 18
CIBR Sharpe Ratio Rank: 19
CIBR Sortino Ratio Rank: 18
CIBR Omega Ratio Rank: 19
CIBR Calmar Ratio Rank: 17
CIBR Martin Ratio Rank: 16

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.

DLNV vs. CIBR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Dual Directional Buffer ETF - November (DLNV) and First Trust NASDAQ Cybersecurity ETF (CIBR). 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.

	DLNV	CIBR	Difference
Sharpe ratio: Return per unit of total volatility	—	0.61	—
Sortino ratio: Return per unit of downside risk	—	0.99	—
Omega ratio: Gain probability vs. loss probability	—	1.12	—
Calmar ratio: Return relative to maximum drawdown	—	0.69	—
Martin ratio: Return relative to average drawdown	—	1.60	—

Drawdowns

DLNV vs. CIBR - Drawdown Comparison

The maximum DLNV drawdown since its inception was -4.83%, smaller than the maximum CIBR drawdown of -33.89%. Use the drawdown chart below to compare losses from any high point for DLNV and CIBR.

Drawdown Indicators

	DLNV	CIBR	Difference
Max Drawdown Largest peak-to-trough decline	-4.83%	-33.89%	+29.06%
Max Drawdown (1Y) Largest decline over 1 year	—	-21.99%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-21.99%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-33.89%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.89%	—
Current Drawdown Current decline from peak	-0.65%	-10.72%	+10.07%
Average Drawdown Average peak-to-trough decline	-0.64%	-8.66%	+8.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	9.51%	—

Volatility

Volatility by Period

	DLNV	CIBR	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	12.03%	—
Volatility (6M) Calculated over the trailing 6-month period	—	21.54%	—
Volatility (1Y) Calculated over the trailing 1-year period	7.18%	25.21%	-18.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.18%	25.07%	-17.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.18%	23.60%	-16.42%

DLNV vs. CIBR - Expense Ratio Comparison

DLNV has a 0.85% expense ratio, which is higher than CIBR's 0.60% expense ratio.

Dividends

DLNV vs. CIBR - Dividend Comparison

DLNV has not paid dividends to shareholders, while CIBR's dividend yield for the trailing twelve months is around 0.49%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CIBR First Trust NASDAQ Cybersecurity ETF	0.49%	0.42%	0.29%	0.42%	0.31%	0.59%	1.10%	0.23%	0.23%	0.10%	0.77%	0.58%
DLNV FT Vest U.S. Equity Dual Directional Buffer ETF - November	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DLNV and CIBR in my portfolio?

DLNV and CIBR have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DLNV or CIBR?

On fees, CIBR is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DLNV or CIBR?

CIBR is cheaper with a 0.60% expense ratio, compared with 0.85% for DLNV.

Which ETF pays a higher dividend yield, DLNV or CIBR?

CIBR has the higher dividend yield at 0.49%, compared with 0.00% for DLNV.

What is the main difference between DLNV and CIBR?

DLNV is categorized as Defined Outcome, while CIBR is Cybersecurity. DLNV tracks SPDR S&P 500 ETF Trust (SPY), while CIBR tracks Nasdaq CTA Cybersecurity Index. Their fees differ too: 0.85% for DLNV and 0.60% for CIBR.