JANB vs. DLNV

Last updated Jul 17, 2026

JANB (Aptus January Buffer ETF) and DLNV (FT Vest U.S. Equity Dual Directional Buffer ETF - November) are both Defined Outcome funds. JANB is actively managed, while DLNV is passively managed. Their correlation of 0.93 suggests significant overlap in exposure. JANB charges 0.25%/yr vs 0.85%/yr for DLNV.

Performance

JANB vs. DLNV - Performance Comparison

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

Returns By Period

In the year-to-date period, JANB achieves a 6.78% return, which is significantly higher than DLNV's 6.14% return.

JANB

• 1D: -0.22%
• 1M: 0.40%
• 6M: 5.92%
• YTD: 6.78%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DLNV

• 1D: -0.14%
• 1M: 0.65%
• 6M: 5.37%
• YTD: 6.14%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JANB vs. DLNV - Yearly Performance Comparison

	2026 (YTD)	2025
JANB Aptus January Buffer ETF	6.78%	2.39%
DLNV FT Vest U.S. Equity Dual Directional Buffer ETF - November	6.14%	1.88%

Correlation

The correlation between JANB and DLNV is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 24, 2025	0.93

Return for Risk

JANB vs. DLNV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aptus January Buffer ETF (JANB) and FT Vest U.S. Equity Dual Directional Buffer ETF - November (DLNV). 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.

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

Drawdowns

JANB vs. DLNV - Drawdown Comparison

The maximum JANB drawdown since its inception was -6.52%, which is greater than DLNV's maximum drawdown of -4.83%. Use the drawdown chart below to compare losses from any high point for JANB and DLNV.

Drawdown Indicators

	JANB	DLNV	Difference
Max Drawdown Largest peak-to-trough decline	-6.52%	-4.83%	-1.69%
Current Drawdown Current decline from peak	-0.22%	-0.14%	-0.08%
Average Drawdown Average peak-to-trough decline	-1.04%	-0.60%	-0.44%

Volatility

Volatility by Period

	JANB	DLNV	Difference
Volatility (1Y) Calculated over the trailing 1-year period	7.36%	6.88%	+0.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.36%	6.88%	+0.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.36%	6.88%	+0.48%

JANB vs. DLNV - Expense Ratio Comparison

JANB has a 0.25% expense ratio, which is lower than DLNV's 0.85% expense ratio.

Dividends

JANB vs. DLNV - Dividend Comparison

Neither JANB nor DLNV has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both JANB and DLNV in my portfolio?

With a correlation of 0.93, JANB and DLNV 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, JANB or DLNV?

On fees, JANB 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, JANB or DLNV?

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

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

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

What is the main difference between JANB and DLNV?

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