# DLFE (FT Vest U.S. Equity Dual Directional Buffer ETF - February)

First Trust · Buffer ETFs · data as of Sep 21, 2026

As of Sep 21, 2026, DLFE is between its buffer and cap, with SPY up 12.2% since the period began.

## Key facts

- DLFE, can still gain: 4.0%, as of Sep 21, 2026.
- DLFE, fall before the buffer: 7.5%, as of Sep 21, 2026.
- DLFE, protection left, index points: 10.0%, as of Sep 21, 2026.
- DLFE, days to reset: 151, as of Sep 21, 2026.
- DLFE, net assets: $68m (issuer page, as of Sep 18, 2026).
- DLFE, expense ratio: 0.85% (issuer page, Sep 21, 2026).

## DLFE over each window to Sep 21, 2026

| Window | Total return | SPY | Gap to SPY |
| --- | --- | --- | --- |
| 3 months | +2.4% | +2.3% | +0.1 pts |
| 6 months | +10.7% | +18.0% | −7.3 pts |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Reference index | SPY | ETFIQ |
| Buffer | 10% | ETFIQ |
| Outcome period | Feb 23, 2026 to Feb 19, 2027 | ETFIQ |
| Starting cap | +12.4% | ETFIQ |
| SPY return since period start | +12.2% | ETFIQ |
| Fund return since period start | +7.2% | ETFIQ |
| Net assets | $68m | issuer page, as of Sep 18, 2026 |
| Band state today | Open | ETFIQ |
| Can still gain | 4.0% | issuer, fund price |
| Fall before buffer | 7.5% | issuer, fund price |
| Fall to the buffer in index terms | 10.9% | ETFIQ |
| Protection left in index points | 10.0% of 10.0% | ETFIQ |
| Days left in period | 151 | ETFIQ |
| Expense ratio | 0.85% | issuer page, Sep 21, 2026 |

## Questions

### How much can DLFE still gain?

About 4.0% from its price on Sep 21, 2026, before it reaches its cap, by the issuer's published figure. The cap for the period was set at +12.4%.

### How far can DLFE fall before the buffer helps?

7.5% in fund-price terms on Sep 21, 2026, by the issuer's figure. In index terms SPY can fall 10.9% from that level before the buffer begins. Losses until that point are the holder's.

### How much of the DLFE buffer is left?

10.0% of the 10.0% buffer sat below the SPY level on Sep 21, 2026. That is an ETFIQ calculation in index points, on one definition for every issuer.

### When does DLFE reset?

The outcome period ends on Feb 19, 2027, 151 days from the data on Sep 21, 2026. A new cap is set the next day and the buffer starts again.

### What does DLFE cost?

The prospectus expense ratio is 0.85% a year.


## Cite this page

ETFIQ, DLFE, data as of Sep 21, 2026. https://etfiq.com/funds/dlfe
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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