DLFE ETF — First Trust Exchange-Traded Fund VIII - FT Vest U.S. Equity Dual Directional Buffer ETF - February

First Trust Exchange-Traded Fund VIII - FT Vest U.S. Equity Dual Directional Buffer ETF - February (DLFE)

Updated October 16, 2026.

DLFE is an ETF. its expense ratio is 0.85%. Total return is 7.9% over the past 0.6 years, 4.8 points behind SPY at 12.7%.

This ETF invests substantially all of its assets in customized exchange-traded options (FLEX Options) that reference the S&P 500, providing exposure to large-cap U.S. equities through a dual directional buffer strategy with a February expiration cycle. The fund does not currently distribute income to shareholders and carries an expense ratio of 0.85%. This structure appeals to sophisticated investors seeking alternative equity exposure strategies with defined risk parameters rather than traditional buy-and-hold equity investment.

DLFE performance versus SPY

Price and return data through 2026-10-16.

Total return is 7.9% over the past 0.6 years, 4.8 points behind SPY at 12.7%.

DLFE key facts

Issuer

First Trust

Asset type

ETF

Asset class

Equity

Inception date

02/19/2026

Expense ratio

0.85%

Distribution frequency

None

Last close

$32.53 (as of 2026-10-16)

AUM

$68,563,052

Average volume

2542.0

Beta

0.453

How Dividend Vision calculates yield and returns

Distribution rate (the posted rate) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: First Trust or company page; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

DLFE risks and drawbacks

Total return has trailed SPY over the available window.

Who may consider DLFE — and who may not

It is a weaker fit for investors who need monthly cash flow (DLFE does not currently distribute); investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on DLFE

• All tickers starting with D

Tagged: Downside Protection, Options, Target.

Frequently asked questions

More securities from First Trust.