DLNV vs. TDIV
DLNV (FT Vest U.S. Equity Dual Directional Buffer ETF - November) and TDIV (First Trust NASDAQ Technology Dividend Index Fund) are both exchange-traded funds - DLNV is a Defined Outcome fund tracking the SPDR S&P 500 ETF Trust (SPY), while TDIV is a Technology Equities fund tracking the NASDAQ Technology Dividend Index. Both are passively managed. A 0.76 correlation means they provide meaningful diversification when combined. DLNV charges 0.85%/yr vs 0.50%/yr for TDIV.
Performance
DLNV vs. TDIV - Performance Comparison
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Returns By Period
In the year-to-date period, DLNV achieves a 6.16% return, which is significantly lower than TDIV's 13.85% return.
DLNV
- 1D
- 0.32%
- 1M
- 0.72%
- 6M
- 6.49%
- YTD
- 6.16%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
TDIV
- 1D
- 1.48%
- 1M
- -6.78%
- 6M
- 13.92%
- YTD
- 13.85%
- 1Y
- 20.10%
- 3Y*
- 24.87%
- 5Y*
- 15.92%
- 10Y*
- 16.94%
- ALL TIME*
- 15.54%
DLNV vs. TDIV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DLNV FT Vest U.S. Equity Dual Directional Buffer ETF - November | 6.16% | 1.88% |
TDIV First Trust NASDAQ Technology Dividend Index Fund | 13.85% | 4.97% |
Correlation
The correlation between DLNV and TDIV is 0.76, 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 24, 2025 | 0.76 |
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Return for Risk
DLNV vs. TDIV — Risk / Return Rank
DLNV
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
TDIV
DLNV vs. TDIV - 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 Technology Dividend Index Fund (TDIV). 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 | TDIV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.18 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.29 | — |
| Martin ratioReturn relative to average drawdown | — | 3.84 | — |
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Drawdowns
DLNV vs. TDIV - Drawdown Comparison
The maximum DLNV drawdown since its inception was -4.83%, smaller than the maximum TDIV drawdown of -31.97%. Use the drawdown chart below to compare losses from any high point for DLNV and TDIV.
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Drawdown Indicators
| DLNV | TDIV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.83% | -31.97% | +27.14% |
Max Drawdown (1Y)Largest decline over 1 year | — | -15.62% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -23.00% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -31.97% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -31.97% | — |
Current DrawdownCurrent decline from peak | -0.12% | -14.37% | +14.25% |
Average DrawdownAverage peak-to-trough decline | -0.59% | -4.89% | +4.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 5.26% | — |
Volatility
DLNV vs. TDIV - Volatility Comparison
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Volatility by Period
| DLNV | TDIV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 5.80% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 16.22% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 6.84% | 20.42% | -13.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.84% | 21.06% | -14.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.84% | 20.97% | -14.13% |
DLNV vs. TDIV - Expense Ratio Comparison
DLNV has a 0.85% expense ratio, which is higher than TDIV's 0.50% expense ratio.
Dividends
DLNV vs. TDIV - Dividend Comparison
DLNV has not paid dividends to shareholders, while TDIV's dividend yield for the trailing twelve months is around 1.38%.
| 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% |
TDIV First Trust NASDAQ Technology Dividend Index Fund | 1.38% | 1.40% | 1.59% | 1.74% | 2.51% | 1.76% | 2.07% | 2.27% | 2.97% | 2.27% | 2.45% | 2.52% |
Frequently Asked Questions
DLNV and TDIV have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TDIV is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TDIV is cheaper with a 0.50% expense ratio, compared with 0.85% for DLNV.
TDIV has the higher dividend yield at 1.38%, compared with 0.00% for DLNV.
DLNV is categorized as Defined Outcome, while TDIV is Technology Equities. DLNV tracks SPDR S&P 500 ETF Trust (SPY), while TDIV tracks NASDAQ Technology Dividend Index. Their fees differ too: 0.85% for DLNV and 0.50% for TDIV.
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