Which resets first, DECU or DLNV?

DECU ends its outcome period on Nov 30, 2026 and DLNV on Nov 20, 2026. New terms are set the day after each.

Which is cheaper, DECU or DLNV?

DECU charges 0.74% a year and DLNV charges 0.85%, so DECU is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Buffer ETFs

DECU vs DLNV: Cap, Buffer & Days Left

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As of Nov 4, 2026 DLNV can fall 11.8% before its buffer engages and DECU 7.9%, and DLNV resets 10 days sooner.

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Net assets on Nov 3, 2026: $52m for AllianzIM U.S. Equity Buffer15 Uncapped ETF - Dec and $20m for FT Vest U.S. Equity Dual Directional Buffer ETF - November.

DECU on its own →DLNV on its own →

At a glance

7.9%

DECU can fall this far before its buffer

11.8%

DLNV can fall this far before its buffer

uncapped

DECU can still gain

0.6%

DLNV can still gain

DECU No cap

DECU: reference +12.2% since period start, fund +7.7%; buffer 0 to −15; no cap; No cap. Data to Nov 4, 2026.

DLNV At its cap

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

DECU costs 0.11 points a year less; DECU is 2.6 times larger.

Points (pts) are percentage points.

DECU vs DLNV: Cap, Buffer & Days Left
Measure	DECU	DLNV
Return
Measure	DECU	DLNV
Total return, 1 year	+9.0%	not published
Drawdown
Measure	DECU	DLNV
Index fall to the buffer	10.9%	14.0%
Benchmark
Measure	DECU	DLNV
What it tracks	SPY	SPY
Cost and size
Measure	DECU	DLNV
Expense ratio	0.74%	0.85%
Net assets, as of Nov 3, 2026	$52m	$20m
Holdings
Measure	DECU	DLNV
Holdings in common	not published

Method

Window by window

Window by window: DECU vs DLNV: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	DECU	DLNV	DECU	DLNV
3 months	−1.4%	+2.0%	−1.0 pts	+2.4 pts
6 months	+2.3%	+5.1%	−2.2 pts	+0.6 pts
1 year	+9.0%	–	−4.6 pts	–
Since launchNot the same days: DECU Dec 2024 · DLNV Nov 2025	+17.7%	+11.3%	−9.3 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

DECU AllianzIM U.S. Equity Buffer15 Uncapped ETF - Dec · Absorbs the first 15% of loss on SPY and does not cap the gain, over a period ending Nov 30, 2026 DLNV FT Vest U.S. Equity Dual Directional Buffer ETF - November · Absorbs the first 10% of loss on SPY and caps the gain at 14.0%, over a period ending Nov 20, 2026

Issuer AllianzIM First Trust

Reference index SPY SPY

Buffer 15% 10%

Outcome period Dec 1, 2025 to Nov 30, 2026 Nov 24, 2025 to Nov 20, 2026

Days left 26 16

Starting cap uncapped +14.0%

Can still gain uncapped 0.6%

Fall before buffer 7.9% 11.8%

Protection left, index points 15.0% of 15.0% 10.0% of 10.0%

Index return this period +12.2% +16.3%

Fund return this period +7.7% +12.5%

State today Uncapped At cap

Expense ratio 0.74% 0.85%

Net assets, as of Nov 3, 2026 $52m $20m

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. DECU 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; DECU runs to Nov 30, 2026, 26 days. A fall from here reaches DECU’s buffer after 7.9% and DLNV’s after 11.8%. Both track SPY, so what separates them is where each is in its own period.

Alert

About each fund

DECU

This fund has no cap. It takes a share of any further rise in SPY. The fund's price can fall 7.9% 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: 15.0% of the 15.0% buffer still sits below today's SPY level. 26 days remained on Nov 4, 2026. On Nov 30, 2026 the period ends and new terms are 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

Which resets first, DECU or DLNV?: DECU ends its outcome period on Nov 30, 2026 and DLNV on Nov 20, 2026. New terms are set the day after each.
Which is cheaper, DECU or DLNV?: DECU charges 0.74% a year and DLNV charges 0.85%, so DECU is cheaper. Fees come from each fund's prospectus.

Other comparisons

DECU vs PMDE DECU vs SQBA DECU vs DECW DECU vs FNOV DLNV vs CPSD DLNV vs FHDG DLNV vs CPSN DLNV vs UDEC

Where to next

SPDR® S&P 500® ETF Trust →All buffer ETFs ranked by the Downside Cover Score →How the scores are computed →DECU on its own →DLNV on its own →Method →Standards and sources →

Sources and dates

DECU filings on SEC EDGAR ↗

AllianzIM page for DECU ↗

DLNV filings on SEC EDGAR ↗

First Trust page for DLNV ↗

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, DECU against DLNV, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/decu-vs-dlnv

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