Which resets first, DHDG or FEBU?

DHDG ends its outcome period on Jan 15, 2027 and FEBU on Jan 31, 2027. New terms are set the day after each.

Which is cheaper, DHDG or FEBU?

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

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DHDG vs FEBU: Cap, Buffer & Days Left

As of Oct 21, 2026 FEBU can fall 8.3% before its buffer engages and DHDG 3.2%, and DHDG resets 16 days sooner. Net assets on Oct 21, 2026: $79m for FT Vest U.S. Equity Quarterly 2.5 to 15 Buffer ETF and $52m for AllianzIM U.S. Equity Buffer15 Uncapped ETF - Feb.

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Answers cite the figures on this page.

FEBU costs 0.11 points a year less; their one-year returns differ by 3.3 points; DHDG is 1.5 times larger.

Points (pts) are percentage points.

DHDG vs FEBU: Cap, Buffer & Days Left
	DHDG	FEBU
Expense ratio	0.85%	0.74%
Net assets	$79m	$52m
Total return, 1 year	+13.8%	+10.5%
What it tracks	SPY	SPY
Holdings in common	not published
Index fall to the buffer	3.7%	10.5%

3.2%

DHDG can fall this far before its buffer

8.3%

FEBU can fall this far before its buffer

3.7%

DHDG can still gain

uncapped

FEBU can still gain

DHDGBetween buffer and cap

DHDG: reference +1.3% since period start, fund +0.5%; buffer −2 to −15; cap +4.5%; Between buffer and cap. Figures to Oct 21, 2026.

FEBUNo cap

FEBU: reference +11.7% since period start, fund +8.1%; buffer 0 to −15; no cap; No cap. Figures to Oct 21, 2026.

ETFIQ Downside Cover Score · DHDG scores higherIf the market falls into a bear market from here, how much does the buffer absorb?

IQ Buffer Score63.4DHDG55.7FEBU

How much of a bear-market fall the buffer would absorb from today's level, ranked against 292 buffer ETFs on stocks with a live outcome period. 100 is best. How it is computed

DHDG 63.4

FEBU 55.7

0.2, the lowest in this set99.8, the highest

A percentile among the 292 buffer ETFs on stocks with a live outcome period. Today's position against one 20% fall; it ignores smaller falls, and stock buffers are never ranked against bond or commodity ones. All buffer ETFs ranked by it →

Where each one stands today

DHDG resets first, on Jan 15, 2027, 86 days from now; FEBU runs to Jan 31, 2027, 102 days. A fall from here reaches DHDG’s buffer after 3.2% and FEBU’s after 8.3%. Both track SPY, so what separates them is where each is in its own period.

Performance, window by window

Performance, window by window: DHDG vs FEBU: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	DHDG	FEBU	DHDG	FEBU
3 months	+2.9%	+2.1%	−0.5 pts	−1.3 pts
6 months	+7.3%	+6.0%	−1.4 pts	−2.7 pts
1 year	+13.8%	+10.5%	−1.4 pts	−4.7 pts
Since launch Not the same days: DHDG Oct 2024 · FEBU Feb 2025	+25.2%	+20.9%	−7.2 pts	−8.5 pts

Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Source: ETFIQ. Open this comparison in the app →

On the same fields

DHDG

FT Vest U.S. Equity Quarterly 2.5 to 15 Buffer ETF · Absorbs losses from 2.5% to 15.0% on SPY and caps the gain at 4.5%, over a period ending Jan 15, 2027

FEBU

AllianzIM U.S. Equity Buffer15 Uncapped ETF - Feb · Absorbs the first 15% of loss on SPY and does not cap the gain, over a period ending Jan 31, 2027

Issuer First Trust AllianzIM

Reference index SPY SPY

Buffer 2% to 15% 15%

Outcome period Oct 19, 2026 to Jan 15, 2027 Feb 1, 2026 to Jan 31, 2027

Days left 86 102

Starting cap +4.5% uncapped

Can still gain 3.7% uncapped

Fall before buffer 3.2% 8.3%

Protection left, index points 12.5% of 12.5% 15.0% of 15.0%

Index return this period +1.3% +11.7%

Fund return this period +0.5% +8.1%

State today Open Uncapped

Expense ratio 0.85% 0.74%

Net assets $79m $52m

As of Oct 21, 2026. Source: ETFIQ.

About DHDG

From its price on Oct 21, 2026, the fund can gain about 3.7% more before it reaches its cap. The fund's price can fall 3.2% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 3.7% from today's level to the point where the buffer begins. Protection left, in index points: 12.5% of the 12.5% buffer still sits below today's SPY level. 86 days remained on Oct 21, 2026. On Jan 15, 2027 the period ends and a new cap is set.

About FEBU

This fund has no cap. It takes a share of any further rise in SPY. The fund's price can fall 8.3% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 10.5% 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. 102 days remained on Oct 21, 2026. On Jan 31, 2027 the period ends and new terms are set.

Questions people ask

Which resets first, DHDG or FEBU?: DHDG ends its outcome period on Jan 15, 2027 and FEBU on Jan 31, 2027. New terms are set the day after each.
Which is cheaper, DHDG or FEBU?: DHDG charges 0.85% a year and FEBU charges 0.74%, so FEBU is cheaper. Fees come from each fund's prospectus.

Other comparisons

DHDG vs FEBT DHDG vs PMFB DHDG vs PMNV DHDG vs SIXF FEBU vs UFEB FEBU vs FEBW FEBU vs GJAN FEBU vs DJAN

State Street® SPDR® S&P 500® ETF Trust →DHDG on its own →FEBU on its own →How every figure is computed →Standards and sources →

Where these figures came from

DHDG filings on SEC EDGAR ↗First Trust page for DHDG ↗FEBU filings on SEC EDGAR ↗AllianzIM page for FEBU ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.

How this is computed

It is a place in a set, not a rating or a recommendation.

ETFIQ calculates every figure 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 figure is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, DHDG against FEBU, data as of Oct 21, 2026. https://etfiq.com/compare/buffer/dhdg-vs-febu

Open data

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