Are DLAG and SPY in the same category?

DLAG is a buffer ETF and SPY is a stock ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.

Which returned more over the last year, DLAG or SPY?

In the year to Nov 4, 2026, with distributions reinvested, DLAG returned +10.2% and SPY +14.8%.

Which is cheaper, DLAG or SPY?

SPY is cheaper, by 0.76 percentage points a year. That is about $76 on $10,000 held for a year. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Across categories

DLAG vs SPY: Differences, Returns & Fees

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Over the year to Nov 4, 2026, DLAG returned +10.2% to SPY's +14.8%, and SPY charges 0.09% to DLAG's 0.85%.

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Net assets on Nov 3, 2026: $20m for FT Vest U.S. Equity Dual Directional Buffer ETF - August and $804.8bn for SPDR S&P 500 ETF Trust.

DLAG on its own →SPY on its own →

At a glance

+10.2%

DLAG total return, 1 year

+14.8%

SPY total return, 1 year

0.85%

DLAG expense ratio

0.09%

SPY expense ratio

Pair scorecard

SPY costs 0.76 points a year less; their one-year returns differ by 4.6 points; SPY is far larger, $804.8bn against $20m.

DLAG vs SPY: Differences, Returns & Fees
Measure	DLAG	SPY
Return
Measure	DLAG	SPY
Total return, 1 year	+10.2%	+14.8%
Drawdown
Measure	DLAG	SPY
Index fall to the buffer	0.1%
Fund price fall to the buffer	1.8%
Benchmark
Measure	DLAG	SPY
What it tracks	SPY	S&P 500 Index
The outcome period
Measure	DLAG	SPY
Room to the cap	11.6%
Buffer left, in index points	10.0% of 10.0%
Days left in the period	289
Period ends	Aug 20, 2027
Cost and size
Measure	DLAG	SPY
Expense ratio	0.85%	0.09%
Net assets, as of Nov 3, 2026	$20m	$804.8bn
Holdings
Measure	DLAG	SPY
Holdings in common	not published
In the S&P 500, by weight		100%
Top ten holdings, share of the fund		37.3%

Method

Side by side

DLAG FT Vest U.S. Equity Dual Directional Buffer ETF - August SPY SPDR S&P 500 ETF Trust

Where it sits Buffer ETF Stock ETF

Issuer First Trust State Street

What it is Defined outcome, 10% on SPY Tracks the S&P 500

Total return, 1 year +10.2% +14.8%

Its benchmark over the same days +13.6% (SPY) +14.8% (VOO)

Gap to its benchmark −3.4 pts vs SPY 0.0 pts vs VOO

Expense ratio 0.85% 0.09%

Holdings not read by ETFIQ 504

Net assets, as of Nov 3, 2026 $20m $804.8bn

DLAG and SPY on the fields both publish, as of Nov 4, 2026. Source: ETFIQ.

Alert

About each fund

DLAG

From its price on Nov 4, 2026, the fund can gain about 11.6% more before it reaches its cap. The fund's price can fall 1.8% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 0.1% from today's level to the point where the buffer begins. Protection left, in index points: 10.0% of the 10.0% buffer still sits below today's SPY level. 289 days remained on Nov 4, 2026. On Aug 20, 2027 the period ends and a new cap is set.

SPY

SPY tracks the S&P 500. Over the year to Nov 4, 2026 it returned +14.8% with distributions reinvested, against +14.8% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.09% a year. By its holdings published by its issuer for Nov 3, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 504 positions, with the top ten at 37.3%.

Questions people ask

Are DLAG and SPY in the same category?: DLAG is a buffer ETF and SPY is a stock ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
Which returned more over the last year, DLAG or SPY?: In the year to Nov 4, 2026, with distributions reinvested, DLAG returned +10.2% and SPY +14.8%.
Which is cheaper, DLAG or SPY?: SPY is cheaper, by 0.76 percentage points a year. That is about $76 on $10,000 held for a year. Fees come from each fund's prospectus.

Other comparisons

DLAG vs IVV DLAG vs VOO DLAG vs SPYM PMAP vs SPY PQXV vs SPY PQXX vs SPY SPY vs SQBA HJUN vs SPY

Where to next

DLAG on its own →SPY on its own →Hold both: look the portfolio through →Rankings →SPY dividend history →SPY holdings →Standards and sources →

Sources and dates

DLAG filings on SEC EDGAR ↗

First Trust page for DLAG ↗

SPY filings on SEC EDGAR ↗

State Street website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

Cite this pageCitation, APA and Markdown

ETFIQ, DLAG against SPY, data as of Nov 4, 2026. https://etfiq.com/compare/any/dlag-vs-spy

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