UXJL vs. DLNV

Last updated Jun 24, 2026

UXJL (FT Vest U.S. Equity Uncapped Accelerator ETF - July) and DLNV (FT Vest U.S. Equity Dual Directional Buffer ETF - November) are both Defined Outcome funds from First Trust. UXJL is actively managed, while DLNV is passively managed. With a 0.96 correlation, they move nearly in lockstep. Both charge a 0.85% expense ratio.

Performance

UXJL vs. DLNV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest U.S. Equity Uncapped Accelerator ETF - July (UXJL) 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, UXJL achieves a 8.46% return, which is significantly higher than DLNV's 4.86% return.

UXJL

• 1D: -1.53%
• 1M: -1.62%
• YTD: 8.46%
• 6M: 7.35%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DLNV

• 1D: -0.41%
• 1M: -0.00%
• YTD: 4.86%
• 6M: 4.58%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UXJL vs. DLNV - Yearly Performance Comparison

	2026 (YTD)	2025
UXJL FT Vest U.S. Equity Uncapped Accelerator ETF - July	8.46%	3.89%
DLNV FT Vest U.S. Equity Dual Directional Buffer ETF - November	4.86%	1.88%

Correlation

The correlation between UXJL and DLNV is 0.96 - 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 24, 2025	0.96

Return for Risk

UXJL vs. DLNV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Uncapped Accelerator ETF - July (UXJL) 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

UXJL vs. DLNV - Drawdown Comparison

The maximum UXJL drawdown since its inception was -10.29%, which is greater than DLNV's maximum drawdown of -4.83%. Use the drawdown chart below to compare losses from any high point for UXJL and DLNV.

Drawdown Indicators

	UXJL	DLNV	Difference
Max Drawdown Largest peak-to-trough decline	-10.29%	-4.83%	-5.46%
Current Drawdown Current decline from peak	-3.71%	-0.65%	-3.06%
Average Drawdown Average peak-to-trough decline	-1.58%	-0.64%	-0.94%

Volatility

Volatility by Period

	UXJL	DLNV	Difference
Volatility (1Y) Calculated over the trailing 1-year period	14.58%	7.18%	+7.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.58%	7.18%	+7.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.58%	7.18%	+7.40%

UXJL vs. DLNV - Expense Ratio Comparison

Both UXJL and DLNV have an expense ratio of 0.85%.

Dividends

UXJL vs. DLNV - Dividend Comparison

Neither UXJL nor DLNV has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both UXJL and DLNV in my portfolio?

With a correlation of 0.96, UXJL 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, UXJL or DLNV?

Both ETFs have the same 0.85% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UXJL or DLNV?

UXJL and DLNV have the same expense ratio: 0.85% per year.

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

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