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Data as of Oct 28, 2026.

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Buffer ETFs

DHDG vs XJAN: Cap, Buffer & Days Left

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As of Oct 28, 2026 XJAN can fall 7.5% before its buffer engages and DHDG 3.3%.

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Net assets on Oct 27, 2026: $80m for FT Vest U.S. Equity Quarterly 2.5 to 15 Buffer ETF and $72m for FT Vest U.S. Equity Enhance & Moderate Buffer ETF - January.

DHDG on its own →XJAN on its own →
At a glance
3.3%
DHDG can fall this far before its buffer
7.5%
XJAN can fall this far before its buffer
3.6%
DHDG can still gain
1.8%
XJAN can still gain
DHDG Between buffer and cap
Between buffer and capDHDG: reference +1.2% since period start, fund +0.6%; buffer −2 to −15; cap +4.5%; Between buffer and cap. Data to Oct 28, 2026.12.5 pts of buffer−15.0% floor−2.5% buffer start0% period start+4.5% capfirst 2.5 pts are yours to lose+1.2% gain captured+3.3% more to the capTODAY · SPY +1.2%Between buffer and capDHDG: reference +1.2% since period start, fund +0.6%; buffer −2 to −15; cap +4.5%; Between buffer and cap. Data to Oct 28, 2026.12.5 pts−15.0% floor−2.5% buffer start0% start+4.5% capfirst 2.5 pts are yours to lose+1.2% gain captured+3.3% more to the capTODAY · SPY +1.2%

DHDG: reference +1.2% since period start, fund +0.6%; buffer −2 to −15; cap +4.5%; Between buffer and cap. Data to Oct 28, 2026.

DHDG: reference +1.2% since period start, fund +0.6%; buffer −2 to −15; cap +4.5%; Between buffer and cap. Data to Oct 28, 2026.
XJAN At its cap
At its capXJAN: reference +11.7% since period start, fund +7.2%; buffer 0 to −15; cap +9.9%; At its cap. Data to Oct 28, 2026.15 pts of buffer+9.9% gain captured−15.0% floor0% period start+9.9% capTODAY · SPY +11.7%At its capXJAN: reference +11.7% since period start, fund +7.2%; buffer 0 to −15; cap +9.9%; At its cap. Data to Oct 28, 2026.15 pts of buffer+9.9%−15.0% floor0% start+9.9% capTODAY · SPY +11.7%

XJAN: reference +11.7% since period start, fund +7.2%; buffer 0 to −15; cap +9.9%; At its cap. Data to Oct 28, 2026.

XJAN: reference +11.7% since period start, fund +7.2%; buffer 0 to −15; cap +9.9%; At its cap. Data to Oct 28, 2026.

Pair scorecard

Both cost 0.85% a year; their one-year returns differ by 3.7 points; DHDG is 1.1 times larger.

Points (pts) are percentage points.

DHDG vs XJAN: Cap, Buffer & Days Left
MeasureDHDGXJAN
Return
Total return, 1 year+12.7%+9.0%
Drawdown
Index fall to the buffer3.6%10.4%
Benchmark
What it tracksSPYSPY
Cost and size
Expense ratio0.85%0.85%
Net assets, as of Oct 27, 2026$80m$72m
Holdings
Holdings in commonnot published

Method

Window by window

Window by window: DHDG vs XJAN: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowDHDGXJANDHDGXJAN
3 months+4.0%+3.1%−1.9 pts−2.8 pts
6 months+7.1%+5.2%−1.5 pts−3.3 pts
1 year+12.7%+9.0%+0.3 pts−3.5 pts
Since launchNot the same days: DHDG Oct 2024 · XJAN Jan 2024+25.2%+27.9%−7.2 pts−31.9 pts

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

Side by side

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 XJAN FT Vest U.S. Equity Enhance & Moderate Buffer ETF - January · Absorbs the first 15% of loss on SPY and caps the gain at 9.9%, over a period ending Jan 15, 2027
Issuer First Trust First Trust
Reference index SPY SPY
Buffer 2% to 15% 15%
Outcome period Oct 19, 2026 to Jan 15, 2027 Jan 20, 2026 to Jan 15, 2027
Days left 79 79
Starting cap +4.5% +9.9%
Can still gain 3.6% 1.8%
Fall before buffer 3.3% 7.5%
Protection left, index points 12.5% of 12.5% 15.0% of 15.0%
Index return this period +1.2% +11.7%
Fund return this period +0.6% +7.2%
State today Open At cap
Expense ratio 0.85% 0.85%
Net assets, as of Oct 27, 2026 $80m $72m

As of Oct 28, 2026. Source: ETFIQ.

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

XJAN is already at its cap, so more rise in the index adds nothing to it before the period ends.

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

Where each one stands today

DHDG resets first, on Jan 15, 2027, 79 days from now; XJAN runs to Jan 15, 2027, 79 days. DHDG can still gain 3.6% before its cap, XJAN 1.8%. A fall from here reaches DHDG’s buffer after 3.3% and XJAN’s after 7.5%. Both track SPY, so what separates them is where each is in its own period.

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About each fund
DHDG

From its price on Oct 28, 2026, the fund can gain about 3.6% more before it reaches its cap. The fund's price can fall 3.3% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 3.6% 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. 79 days remained on Oct 28, 2026. On Jan 15, 2027 the period ends and a new cap is set.

XJAN

SPY had already risen past this fund's cap of +9.9% for the period on Oct 28, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 1.8% as the period runs out. The fund's price can fall 7.5% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 10.4% 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.

Questions people ask

Which has more room to gain, DHDG or XJAN?
From their prices on Oct 28, 2026, DHDG can gain about 3.6% before its cap and XJAN about 1.8%, so DHDG has more room left this period.
Which resets first, DHDG or XJAN?
DHDG ends its outcome period on Jan 15, 2027 and XJAN on Jan 15, 2027. A new cap is set the day after each.
Which is cheaper, DHDG or XJAN?
DHDG and XJAN both charge 0.85% a year, so neither is cheaper. Fees come from each fund's prospectus.
Other comparisons
DHDG vs SIXFDHDG vs JANMDHDG vs NVBUDHDG vs CPSNXJAN vs DJANXJAN vs FJANXJAN vs ZFEBXJAN vs FEBT
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 →DHDG on its own →XJAN on its own →Method →Standards and sources →
Sources and dates
DHDG and XJAN filings on SEC EDGAR ↗
First Trust page for DHDG ↗
First Trust page for XJAN ↗

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, DHDG against XJAN, data as of Oct 28, 2026. https://etfiq.com/compare/buffer/dhdg-vs-xjan

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