Data as of Nov 4, 2026.
DECP vs DLNV: Cap, Buffer & Days Left
As of Nov 4, 2026 DLNV can fall 11.8% before its buffer engages and DECP 10.6%, and DLNV resets 10 days sooner.
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Net assets: $39m on Nov 4, 2026 for PGIM S&P 500 Buffer 12 ETF - December, and $20m on Nov 3, 2026 for FT Vest U.S. Equity Dual Directional Buffer ETF - November.
DECP: reference +12.2% since period start, fund +11.3%; buffer 0 to −12; cap +14.8%; Between buffer and cap. Data to Nov 4, 2026.
DECP: reference +12.2% since period start, fund +11.3%; buffer 0 to −12; cap +14.8%; Between buffer and cap. Data to Nov 4, 2026.DLNV: reference +16.3% since period start, fund +12.5%; buffer 0 to −10; cap +14.0%; At its cap. Data to Nov 4, 2026.
DLNV: reference +16.3% since period start, fund +12.5%; buffer 0 to −10; cap +14.0%; At its cap. Data to Nov 4, 2026.Pair scorecard
DECP costs 0.35 points a year less; DECP is 1.9 times larger.
Points (pts) are percentage points.
| Measure | DECP | DLNV |
|---|---|---|
| Return | ||
| Total return, 1 year | +13.5% | not published |
| Drawdown | ||
| Index fall to the buffer | 10.9% | 14.0% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.50% | 0.85% |
| Net assets, as of Nov 3, 2026 | $38m | $20m |
| Holdings | ||
| Holdings in common | not published | |
Risk and return
Dec 5, 2025 to Oct 30, 2026 · 47 weekly returnsFrom Dec 2025 to Oct 2026, DECP and DLNV returned about the same: +8.9% and +9.0%. DLNV fell less at its worst: −4.4% to −5.4%.
Full scorecard
3 measures, with how each is measured Open ↓
| Measure | DECP | DLNV | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +8.9% | +9.0% | Tie | Price change plus distributions, reinvested. |
| Price return | +8.9% | +9.0% | Tie | Price change alone, distributions left out. |
| Risk | ||||
| Max drawdown | −5.4% | −4.4% | DLNV | Deepest fall from a high to the low after it. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 47 weekly returns. Cash rate: the 13-week Treasury bill.
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | DECP | DLNV | DECP | DLNV |
| 3 months | +1.7% | +2.0% | +2.0 pts | +2.4 pts |
| 6 months | +5.3% | +5.1% | +0.8 pts | +0.6 pts |
| 1 year | +13.5% | – | −0.1 pts | – |
| Since launchNot the same days: DECP May 2024 · DLNV Nov 2025 | +34.3% | +11.3% | −10.5 pts | −3.3 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
As of Nov 4, 2026. Source: ETFIQ.
These are two different products. DLNV is a floor fund, which caps how far a holder can fall. DECP is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.
DLNV is already at its cap, so more rise in the index adds nothing to it before the period ends.
Where each one stands today
DLNV resets first, on Nov 20, 2026, 16 days from now; DECP runs to Nov 30, 2026, 26 days. DECP can still gain 2.8% before its cap, DLNV 0.6%. A fall from here reaches DECP’s buffer after 10.6% and DLNV’s after 11.8%. Both track SPY, so what separates them is where each is in its own period.
No client brief for this pair: ETFIQ prints no one-year total return for DLNV.
DECP
From its price on Nov 4, 2026, the fund can gain about 2.8% more before it reaches its cap. The fund's price can fall 10.6% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 10.9% from today's level to the point where the buffer begins. Protection left, in index points: 12.0% of the 12.0% buffer still sits below today's SPY level. 26 days remained on Nov 4, 2026. On Nov 30, 2026 the period ends and a new cap is set.
DLNV
SPY had already risen past this fund's cap of +14.0% for the period on Nov 4, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 0.6% as the period runs out. The fund's price can fall 11.8% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 14.0% 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. 16 days remained on Nov 4, 2026. On Nov 20, 2026 the period ends and a new cap is set.
Questions people ask
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.
Cite this pageCitation, APA and Markdown
ETFIQ, DECP against DLNV, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/decp-vs-dlnv
ETFIQ. (Nov 4, 2026). DECP against DLNV. Retrieved from https://etfiq.com/compare/buffer/decp-vs-dlnv
[DECP against DLNV (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/decp-vs-dlnv)
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