Data as of Nov 4, 2026.
DLNV vs ZDEK: Cap, Buffer & Days Left
As of Nov 4, 2026 DLNV can fall 11.8% before its buffer engages and ZDEK 6.0%, and DLNV resets 10 days sooner.
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Net assets: $20m on Nov 3, 2026 for FT Vest U.S. Equity Dual Directional Buffer ETF - November, and $105m on Nov 4, 2026 for Innovator Equity Defined Protection ETF - 1 Yr December.
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.ZDEK: reference +12.2% since period start, fund +5.5%; buffer Floor; cap +6.8%; At its cap. Data to Nov 4, 2026.
Data to Nov 4, 2026.Pair scorecard
ZDEK costs 0.06 points a year less; ZDEK is 5.2 times larger.
Points (pts) are percentage points.
| Measure | DLNV | ZDEK |
|---|---|---|
| Return | ||
| Total return, 1 year | not published | +6.4% |
| Drawdown | ||
| Index fall to the buffer | 14.0% | 10.8% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.85% | 0.79% |
| Net assets, as of Nov 3, 2026 | $20m | $104m |
| Holdings | ||
| Holdings in common | not published | |
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | DLNV | ZDEK | DLNV | ZDEK |
| 3 months | +2.0% | +1.4% | +2.4 pts | +1.8 pts |
| 6 months | +5.1% | +3.0% | +0.6 pts | −1.5 pts |
| 1 year | – | +6.4% | – | −7.2 pts |
| Since launchNot the same days: DLNV Nov 2025 · ZDEK Dec 2024 | +11.3% | +12.8% | −3.3 pts | −14.2 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. ZDEK is a floor fund, which caps how far a holder can fall. DLNV is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.
Both are already at their cap, so neither gains from more rise in the index before the period ends.
Where each one stands today
DLNV resets first, on Nov 20, 2026, 16 days from now; ZDEK runs to Nov 30, 2026, 26 days. DLNV can still gain 0.6% before its cap, ZDEK 0.5%. A fall from here reaches DLNV’s buffer after 11.8% and ZDEK’s after 6.0%. Both track SPY, so what separates them is where each is in its own period.
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.
ZDEK
SPY had already risen past this fund's cap of +6.8% 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 0.5% as the period runs out. The fund's price can fall 6.0% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 10.8% from today's level to the point where the buffer begins. Protection left, in index points: 100.0% of the 100.0% 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.
Questions people ask
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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, DLNV against ZDEK, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/dlnv-vs-zdek
ETFIQ. (Nov 4, 2026). DLNV against ZDEK. Retrieved from https://etfiq.com/compare/buffer/dlnv-vs-zdek
[DLNV against ZDEK (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/dlnv-vs-zdek)
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