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Data as of Nov 4, 2026.

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Buffer ETFs

DAUG vs DLAG: Cap, Buffer & Days Left

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As of Nov 4, 2026 DAUG can fall 6.3% before its buffer engages and DLAG 1.8%.

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Net assets on Nov 3, 2026: $445m for FT Vest U.S. Equity Deep Buffer ETF - August and $20m for FT Vest U.S. Equity Dual Directional Buffer ETF - August.

DAUG on its own →DLAG on its own →
At a glance
6.3%
DAUG can fall this far before its buffer
1.8%
DLAG can fall this far before its buffer
12.3%
DAUG can still gain
11.6%
DLAG can still gain
DAUG Between buffer and cap
Between buffer and capDAUG: reference +0.1% since period start, fund +0.5%; buffer −5 to −30; cap +13.8%; Between buffer and cap. Data to Nov 4, 2026.25 pts of buffer+13.6% more to the cap−30.0% floor−5.0% buffer start0% period start+13.8% capfirst 5 pts are yours to lose+0.1% gain capturedTODAY · SPY +0.1%Between buffer and capDAUG: reference +0.1% since period start, fund +0.5%; buffer −5 to −30; cap +13.8%; Between buffer and cap. Data to Nov 4, 2026.25 pts of buffer−30.0% floor−5.0% buffer start0% start+13.8% capfirst 5 pts are yours to lose+0.1% gain captured+13.6% more to the capTODAY · SPY +0.1%

DAUG: reference +0.1% since period start, fund +0.5%; buffer −5 to −30; cap +13.8%; Between buffer and cap. Data to Nov 4, 2026.

DAUG: reference +0.1% since period start, fund +0.5%; buffer −5 to −30; cap +13.8%; Between buffer and cap. Data to Nov 4, 2026.
DLAG Between buffer and cap
Between buffer and capDLAG: reference +0.1% since period start, fund +0.9%; buffer 0 to −10; cap +13.5%; Between buffer and cap. Data to Nov 4, 2026.10 pts of buffer+13.4% more to the cap−10.0% floor0% period start+13.5% cap+0.1% gain capturedTODAY · SPY +0.1%Between buffer and capDLAG: reference +0.1% since period start, fund +0.9%; buffer 0 to −10; cap +13.5%; Between buffer and cap. Data to Nov 4, 2026.10 pts−10.0% floor0% start+13.5% cap+0.1% gain captured+13.4% more to the capTODAY · SPY +0.1%

DLAG: reference +0.1% since period start, fund +0.9%; buffer 0 to −10; cap +13.5%; Between buffer and cap. Data to Nov 4, 2026.

DLAG: reference +0.1% since period start, fund +0.9%; buffer 0 to −10; cap +13.5%; Between buffer and cap. Data to Nov 4, 2026.

Pair scorecard

Both cost 0.85% a year; their one-year returns differ by 1.2 points; DAUG is far larger, $445m against $20m.

Points (pts) are percentage points.

DAUG vs DLAG: Cap, Buffer & Days Left
MeasureDAUGDLAG
Return
Total return, 1 year+9.0%+10.2%
Drawdown
Index fall to the buffer5.1%0.1%
Benchmark
What it tracksSPYSPY
Cost and size
Expense ratio0.85%0.85%
Net assets, as of Nov 3, 2026$445m$20m
Holdings
Holdings in commonnot published

Method

Window by window

Window by window: DAUG vs DLAG: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowDAUGDLAGDAUGDLAG
3 months+0.7%+1.2%+1.1 pts+1.6 pts
6 months+3.6%+4.1%−0.9 pts−0.4 pts
1 year+9.0%+10.2%−4.6 pts−3.4 pts
3 years+42.9%–−33.5 pts–
Since launchNot the same days: DAUG Nov 2019 · DLAG Sep 2025+58.3%+10.7%−90.5 pts−4.3 pts

Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. – means no data for this window. Open this comparison in the app →

Side by side

DAUG FT Vest U.S. Equity Deep Buffer ETF - August · Absorbs losses from 5.0% to 30.0% on SPY and caps the gain at 13.8%, over a period ending Aug 20, 2027 DLAG FT Vest U.S. Equity Dual Directional Buffer ETF - August · Absorbs the first 10% of loss on SPY and caps the gain at 13.5%, over a period ending Aug 20, 2027
Issuer First Trust First Trust
Reference index SPY SPY
Buffer 5% to 30% 10%
Outcome period Aug 24, 2026 to Aug 20, 2027 Aug 24, 2026 to Aug 20, 2027
Days left 289 289
Starting cap +13.8% +13.5%
Can still gain 12.3% 11.6%
Fall before buffer 6.3% 1.8%
Protection left, index points 25.0% of 25.0% 10.0% of 10.0%
Index return this period +0.1% +0.1%
Fund return this period +0.5% +0.9%
State today Open Open
Expense ratio 0.85% 0.85%
Net assets, as of Nov 3, 2026 $445m $20m

As of Nov 4, 2026. Source: ETFIQ.

These are two different products. DLAG is a floor fund, which caps how far a holder can fall. DAUG is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.

Both are First Trust funds, so the difference between them is the terms rather than the house.

Where each one stands today

DAUG resets first, on Aug 20, 2027, 289 days from now; DLAG runs to Aug 20, 2027, 289 days. DAUG can still gain 12.3% before its cap, DLAG 11.6%. A fall from here reaches DAUG’s buffer after 6.3% and DLAG’s after 1.8%. Both track SPY, so what separates them is where each is in its own period.

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About each fund
DAUG

From its price on Nov 4, 2026, the fund can gain about 12.3% more before it reaches its cap. The fund's price can fall 6.3% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 5.1% from today's level to the point where the buffer begins. Protection left, in index points: 25.0% of the 25.0% 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.

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.

Questions people ask

Which has more room to gain, DAUG or DLAG?
From their prices on Nov 4, 2026, DAUG can gain about 12.3% before its cap and DLAG about 11.6%, so DAUG has more room left this period.
Which resets first, DAUG or DLAG?
DAUG ends its outcome period on Aug 20, 2027 and DLAG on Aug 20, 2027. A new cap is set the day after each.
Which is cheaper, DAUG or DLAG?
DAUG and DLAG both charge 0.85% a year, so neither is cheaper. Fees come from each fund's prospectus.
Other comparisons
DAUG vs DDTSDAUG vs FAUGDAUG vs XAUGDAUG vs SEPTDLAG vs GAUGDLAG vs USEPDLAG vs SEPWDLAG vs SEPU
Where to next
State Street® SPDR® S&P 500® ETF Trust →All buffer ETFs ranked by the Downside Cover Score →How the scores are computed →DAUG on its own →DLAG on its own →Method →Standards and sources →
Sources and dates
DAUG and DLAG filings on SEC EDGAR ↗
First Trust page for DAUG ↗
First Trust page for DLAG ↗

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

How this is computed

ETFIQ calculates every number from each issuer’s published outcome-period terms. Buffer ETFs hold options on an index, not shares, so there is no holdings overlap to report.

Every number is an ETFIQ calculation with distributions reinvested.

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ETFIQ, DAUG against DLAG, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/daug-vs-dlag

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.