(DJAN) Exchange-Traded Fund VIII - Overview
Etf: FLEX Options, SPDR S&P 500 ETF, Underlying ETF, Deep Buffer, January Reset
| Risk 5d forecast | |
|---|---|
| Volatility | 7.35% |
| Relative Tail Risk | 1.15% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.73 |
| Alpha | 1.55 |
| Character TTM | |
|---|---|
| Beta | 0.424 |
| Beta Downside | 0.441 |
| Drawdowns 3y | |
|---|---|
| Max DD | 9.33% |
| CAGR/Max DD | 1.33 |
Description: DJAN Exchange-Traded Fund VIII December 30, 2025
First Trust’s DJAN is a Defined-Outcome ETF that allocates virtually all of its capital to FLEX Options tied to the SPDR S&P 500 ETF (SPY). These custom exchange-traded contracts let the fund set its own strike, style and expiration, creating a “deep buffer” that seeks to protect against moderate market declines while capping upside participation.
As of the latest filing, DJAN carries an expense ratio of 0.35 % and targets a 15 % buffer below the SPY’s price over a 12-month horizon. Its performance is highly correlated with S&P 500 volatility (VIX), which has hovered around 18-22 % in the past quarter, and is sensitive to macro drivers such as Fed rate policy and corporate earnings trends. The fund’s non-diversified structure means concentration risk is high; a single sharp move in SPY can materially affect returns.
For a deeper quantitative breakdown, you might explore ValueRay’s analytics platform to see how DJAN’s buffer profile behaves under different market scenarios.
What is the price of DJAN shares?
Over the past week, the price has changed by -0.03%, over one month by +0.26%, over three months by +3.09% and over the past year by +10.40%.
Is DJAN a buy, sell or hold?
What are the forecasts/targets for the DJAN price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | - | - |
| Analysts Target Price | - | - |
| ValueRay Target Price | 48.3 | 10.5% |
DJAN Fundamental Data Overview February 03, 2026
EBIT TTM = 0.0 USD
EBITDA TTM = 0.0 USD
Long Term Debt = unknown (none)
Short Term Debt = unknown (none)
Debt = unknown
Net Debt = unknown
Enterprise Value = 411.5m USD (411.5m + (null Debt) - (null CCE))
Interest Coverage Ratio = unknown (Ebit TTM 0.0 / Interest Expense TTM 0.0)
EV/FCF = unknown (FCF TTM 0.0)
FCF Yield = 0.0% (FCF TTM 0.0 / Enterprise Value 411.5m)
FCF Margin = unknown (Revenue TTM is 0 or missing)
Net Margin = unknown
Gross Margin = unknown ((Revenue TTM 0.0 - Cost of Revenue TTM 0.0) / Revenue TTM)
Tobins Q-Ratio = unknown (Enterprise Value 411.5m / Total Assets none)
Interest Expense / Debt = unknown (Interest Expense 0.0 / Debt none)
Taxrate = 21.0% (US default 21%)
NOPAT = 0.0 (EBIT 0.0 * (1 - 21.00%))
Current Ratio = unknown (Total Current Assets none / Total Current Liabilities none)
Debt / Equity = unknown (Debt none)
Debt / EBITDA = unknown (Net Debt none / EBITDA 0.0)
Debt / FCF = unknown (Net Debt none / FCF TTM 0.0)
Total Stockholder Equity = 0.0 (from calculated bookValueOfEquity)
RoA = unknown (Net Income 0.0 / Total Assets none)
RoE = unknown (Net Income TTM 0.0 / Total Stockholder Equity 0.0)
RoCE = unknown (EBIT 0.0 / Capital Employed )
RoIC = unknown (NOPAT 0.0, Invested Capital 0.0, EBIT 0.0)
WACC = 7.48% (E(411.5m)/V(411.5m) * Re(7.48%) + (debt-free company))
Discount Rate = 7.48% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Fair Price DCF = unknown (Cash Flow 0.0)