DNOV vs. LTTI

Last updated Aug 2, 2026

DNOV (FT Vest U.S. Equity Deep Buffer ETF - November) and LTTI (FT Vest 20+ Year Treasury & Target Income ETF) are both exchange-traded funds - DNOV is a Defined Outcome fund tracking the S&P 500, while LTTI is a Derivative Income fund actively managed by FT Vest. DNOV is passively managed, while LTTI is actively managed. Over the past year, DNOV returned 15.16% vs -2.61% for LTTI. Their 0.13 correlation means their historical movements had little consistent relationship. DNOV charges 0.85%/yr vs 0.65%/yr for LTTI.

Performance

DNOV vs. LTTI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest U.S. Equity Deep Buffer ETF - November (DNOV) and FT Vest 20+ Year Treasury & Target Income ETF (LTTI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DNOV achieves a 5.93% return, which is significantly higher than LTTI's -4.10% return.

DNOV

• 1D: 0.40%
• 1M: 0.77%
• 6M: 5.15%
• YTD: 5.93%
• 1Y: 15.16%
• 3Y*: 11.86%
• 5Y*: 8.27%
• 10Y*: —
• ALL TIME*: 8.17%

LTTI

• 1D: -0.74%
• 1M: -3.51%
• 6M: -4.04%
• YTD: -4.10%
• 1Y: -2.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -1.21%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DNOV FT Vest U.S. Equity Deep Buffer ETF - November	$331.77K	$264.08K	$439.06K
LTTI FT Vest 20+ Year Treasury & Target Income ETF	$120.18K	$116.89K	$129.92K

DNOV vs. LTTI - Yearly Performance Comparison

	2026 (YTD)	2025
DNOV FT Vest U.S. Equity Deep Buffer ETF - November	5.93%	11.86%
LTTI FT Vest 20+ Year Treasury & Target Income ETF	-4.10%	2.43%

Correlation

The correlation between DNOV and LTTI is 0.17, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.17
Correlation (All Time) Calculated using the full available price history since Feb 13, 2025	0.13

Return for Risk

DNOV vs. LTTI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DNOV

DNOV Risk / Return Rank: 92
DNOV Sharpe Ratio Rank: 93
DNOV Sortino Ratio Rank: 94
DNOV Omega Ratio Rank: 94
DNOV Calmar Ratio Rank: 86
DNOV Martin Ratio Rank: 94

LTTI

LTTI Risk / Return Rank: 8
LTTI Sharpe Ratio Rank: 8
LTTI Sortino Ratio Rank: 8
LTTI Omega Ratio Rank: 8
LTTI Calmar Ratio Rank: 9
LTTI Martin Ratio Rank: 8

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DNOV vs. LTTI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Deep Buffer ETF - November (DNOV) and FT Vest 20+ Year Treasury & Target Income ETF (LTTI). 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.

	DNOV	LTTI	Difference
Sharpe ratio: Return per unit of total volatility	2.49	-0.16	+2.65
Sortino ratio: Return per unit of downside risk	3.75	-0.16	+3.91
Omega ratio: Gain probability vs. loss probability	1.51	0.98	+0.53
Calmar ratio: Return relative to maximum drawdown	3.40	-0.18	+3.57
Martin ratio: Return relative to average drawdown	18.03	-0.39	+18.42

DNOV vs. LTTI - Sharpe Ratio Comparison

The current DNOV Sharpe Ratio is 2.49, which is higher than the LTTI Sharpe Ratio of -0.16. The chart below compares the historical Sharpe Ratios of DNOV and LTTI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DNOV vs. LTTI - Drawdown Comparison

The maximum DNOV drawdown since its inception was -15.03%, which is greater than LTTI's maximum drawdown of -9.02%. Use the drawdown chart below to compare losses from any high point for DNOV and LTTI.

Drawdown Indicators

	DNOV	LTTI	Difference
Max Drawdown Largest peak-to-trough decline	-15.03%	-9.02%	-6.01%
Max Drawdown (1Y) Largest decline over 1 year	-4.18%	-7.63%	+3.45%
Max Drawdown (3Y) Largest decline over 3 years	-9.98%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-9.98%	—	—
Current Drawdown Current decline from peak	0.00%	-7.63%	+7.63%
Average Drawdown Average peak-to-trough decline	-1.97%	-3.78%	+1.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.79%	3.44%	-2.65%

Volatility

DNOV vs. LTTI - Volatility Comparison

The current volatility for FT Vest U.S. Equity Deep Buffer ETF - November (DNOV) is 1.35%, while FT Vest 20+ Year Treasury & Target Income ETF (LTTI) has a volatility of 2.24%. This indicates that DNOV experiences smaller price fluctuations and is considered to be less risky than LTTI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DNOV	LTTI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.35%	2.24%	-0.89%
Volatility (6M) Calculated over the trailing 6-month period	4.31%	6.27%	-1.96%
Volatility (1Y) Calculated over the trailing 1-year period	5.71%	8.45%	-2.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.64%	10.05%	-2.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.96%	10.05%	-1.09%

DNOV vs. LTTI - Expense Ratio Comparison

DNOV has a 0.85% expense ratio, which is higher than LTTI's 0.65% expense ratio.

Dividends

DNOV vs. LTTI - Dividend Comparison

DNOV has not paid dividends to shareholders, while LTTI's dividend yield for the trailing twelve months is around 9.55%.

Position	TTM	2025
DNOV FT Vest U.S. Equity Deep Buffer ETF - November	0.00%	0.00%
LTTI FT Vest 20+ Year Treasury & Target Income ETF	8.74%	7.08%

Frequently Asked Questions

Can I hold both DNOV and LTTI in my portfolio?

DNOV and LTTI have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DNOV or LTTI?

LTTI has higher volatility (2.24%) compared to DNOV (1.35%). In terms of maximum drawdown, DNOV dropped -15.03% vs LTTI's -9.02%.

Which ETF is better, DNOV or LTTI?

On 1-year performance, DNOV leads with 15.16% vs -2.61% for LTTI. On fees, LTTI is cheaper at 0.65% per year. On volatility, DNOV has been the lower-risk option at 1.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DNOV or LTTI?

Over the 1-year period, DNOV has performed better with a 15.16% return vs -2.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DNOV or LTTI?

LTTI is cheaper with a 0.65% expense ratio, compared with 0.85% for DNOV.

Which ETF pays a higher dividend yield, DNOV or LTTI?

LTTI has the higher dividend yield at 8.74%, compared with 0.00% for DNOV.

What is the main difference between DNOV and LTTI?

DNOV is categorized as Defined Outcome, while LTTI is Derivative Income. Their fees differ too: 0.85% for DNOV and 0.65% for LTTI.

Which has better risk-adjusted returns?

DNOV currently has the higher Sharpe Ratio (2.49 vs -0.16), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.