DLNV vs. JULB

Last updated Jun 5, 2026

DLNV (FT Vest U.S. Equity Dual Directional Buffer ETF - November) and JULB (Aptus July Buffer ETF) are both Defined Outcome funds. DLNV is passively managed, while JULB is actively managed. With a 0.95 correlation, they move nearly in lockstep. DLNV charges 0.85%/yr vs 0.25%/yr for JULB.

Performance

DLNV vs. JULB - 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 Aptus July Buffer ETF (JULB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DLNV achieves a 5.52% return, which is significantly lower than JULB's 6.52% return.

DLNV

• 1D: 0.12%
• 1M: 1.83%
• YTD: 5.52%
• 6M: 6.20%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

JULB

• 1D: 0.16%
• 1M: 2.16%
• YTD: 6.52%
• 6M: 7.06%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DLNV vs. JULB - Yearly Performance Comparison

	2026 (YTD)	2025
DLNV FT Vest U.S. Equity Dual Directional Buffer ETF - November	5.52%	1.73%
JULB Aptus July Buffer ETF	6.52%	1.67%

Correlation

The correlation between DLNV and JULB is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 25, 2025	0.95

Return for Risk

DLNV vs. JULB - 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 Aptus July Buffer ETF (JULB). 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	JULB	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	2.03	2.21	-0.17

Drawdowns

DLNV vs. JULB - Drawdown Comparison

The maximum DLNV drawdown since its inception was -4.83%, smaller than the maximum JULB drawdown of -5.24%. Use the drawdown chart below to compare losses from any high point for DLNV and JULB.

Drawdown Indicators

	DLNV	JULB	Difference
Max Drawdown Largest peak-to-trough decline	-4.83%	-5.24%	+0.41%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.66%	-0.87%	+0.21%

Volatility

Volatility by Period

	DLNV	JULB	Difference
Volatility (1Y) Calculated over the trailing 1-year period	7.20%	6.79%	+0.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.20%	6.79%	+0.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.20%	6.79%	+0.41%

DLNV vs. JULB - Expense Ratio Comparison

DLNV has a 0.85% expense ratio, which is higher than JULB's 0.25% expense ratio.

Dividends

DLNV vs. JULB - Dividend Comparison

Neither DLNV nor JULB has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both DLNV and JULB in my portfolio?

With a correlation of 0.95, DLNV and JULB move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, DLNV or JULB?

On fees, JULB is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DLNV or JULB?

JULB is cheaper with a 0.25% expense ratio, compared with 0.85% for DLNV.

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

DLNV and JULB have nearly identical dividend yields, around 0.00%.

What is the main difference between DLNV and JULB?

They also come from different issuers: First Trust and Aptus Capital Advisors. Their fees differ too: 0.85% for DLNV and 0.25% for JULB.