How do I achieve “True” Zero-Latency Monitoring w/ FX

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Hello, I'm trying to achieve Zero-Latency monitoring with effects in my DAW.

I've done some research online and it seems like the only way is through an external mixer:

 

Hookup Mixer with Inserts/Direct Outs
http://tinyurl.com/qfr8tzf

 

OR

"you can take the mic or DI into a small analog mixer, and split the signal out to the headphones from there instead, mixing the Playback from the DAW into the analog mixer. Since this is an all-analog signal path for the live signal, there’s no latency at all"

2nd Method

I'm not really sure about the 2nd method, it's a bit unclear to me. I was considering buying another audio interface. One with DSP FX. But I learned that even that has some form of latency.

Before I go [out] and buy an analog mixer, could you guys reassure me that first method will work? That I can monitor with FX but still record a dry signal?