DLNV vs. GRID

Last updated Jun 4, 2026

DLNV (FT Vest U.S. Equity Dual Directional Buffer ETF - November) and GRID (First Trust Nasdaq Clean Edge Smart GRID Infrastructure Index) are both exchange-traded funds - DLNV is a Defined Outcome fund tracking the SPDR S&P 500 ETF Trust (SPY), while GRID is a Alternative Energy Equities fund tracking the NASDAQ OMX Clean Edge Smart Grid Infrastructure Index. Both are passively managed. A 0.75 correlation means they provide meaningful diversification when combined. DLNV charges 0.85%/yr vs 0.70%/yr for GRID.

Performance

DLNV vs. GRID - 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 Clean Edge Smart GRID Infrastructure Index (GRID). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DLNV achieves a 5.39% return, which is significantly lower than GRID's 28.91% return.

DLNV

• 1D: -0.11%
• 1M: 2.02%
• YTD: 5.39%
• 6M: 5.90%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GRID

• 1D: -0.17%
• 1M: 3.85%
• YTD: 28.91%
• 6M: 29.60%
• 1Y: 51.55%
• 3Y*: 26.27%
• 5Y*: 17.84%
• 10Y*: 19.76%

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

DLNV vs. GRID - Yearly Performance Comparison

	2026 (YTD)	2025
DLNV FT Vest U.S. Equity Dual Directional Buffer ETF - November	5.39%	1.73%
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure Index	28.91%	3.69%

Correlation

The correlation between DLNV and GRID is 0.75, 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 Nov 25, 2025	0.75

Return for Risk

DLNV vs. GRID — Risk / Return Rank

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

GRID

GRID Risk / Return Rank: 79
GRID Sharpe Ratio Rank: 81
GRID Sortino Ratio Rank: 76
GRID Omega Ratio Rank: 74
GRID Calmar Ratio Rank: 82
GRID Martin Ratio Rank: 82

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. GRID - 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 Clean Edge Smart GRID Infrastructure Index (GRID). 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

	DLNV	GRID	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.67	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.85	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.01	0.57	+1.43

Drawdowns

DLNV vs. GRID - Drawdown Comparison

The maximum DLNV drawdown since its inception was -4.83%, smaller than the maximum GRID drawdown of -40.56%. Use the drawdown chart below to compare losses from any high point for DLNV and GRID.

Drawdown Indicators

	DLNV	GRID	Difference
Max Drawdown Largest peak-to-trough decline	-4.83%	-40.56%	+35.73%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.73%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-20.77%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-29.64%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-40.56%	—
Current Drawdown Current decline from peak	-0.11%	-1.33%	+1.22%
Average Drawdown Average peak-to-trough decline	-0.66%	-8.43%	+7.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.09%	—

Volatility

Volatility by Period

	DLNV	GRID	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.95%	—
Volatility (6M) Calculated over the trailing 6-month period	—	16.08%	—
Volatility (1Y) Calculated over the trailing 1-year period	7.23%	19.39%	-12.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.23%	21.00%	-13.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.23%	22.81%	-15.58%

DLNV vs. GRID - Expense Ratio Comparison

DLNV has a 0.85% expense ratio, which is higher than GRID's 0.70% expense ratio.

Dividends

DLNV vs. GRID - Dividend Comparison

DLNV has not paid dividends to shareholders, while GRID's dividend yield for the trailing twelve months is around 0.77%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure Index	0.77%	1.01%	1.06%	1.23%	1.26%	0.63%	0.68%	1.26%	1.28%	1.07%	1.07%	1.23%

Frequently Asked Questions

Can I hold both DLNV and GRID in my portfolio?

DLNV and GRID have a correlation of 0.75, 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 GRID?

On fees, GRID is cheaper at 0.70% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DLNV or GRID?

GRID is cheaper with a 0.70% expense ratio, compared with 0.85% for DLNV.

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

GRID has the higher dividend yield at 0.77%, compared with 0.00% for DLNV.

What is the main difference between DLNV and GRID?

DLNV is categorized as Defined Outcome, while GRID is Alternative Energy Equities. DLNV tracks SPDR S&P 500 ETF Trust (SPY), while GRID tracks NASDAQ OMX Clean Edge Smart Grid Infrastructure Index. Their fees differ too: 0.85% for DLNV and 0.70% for GRID.