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Launched · SEC filings

FT Vest U.S. Equity Deep Buffer ETF - November

DNOVCboeFirst TrustC

$52.81−0.06 (−0.12%)

At close: Nov 2, 2026, 4:00 PM ET

C50/ 100

Rank 6 of 19 in S&P 500 Deep Buffer 25-30%

C50/100Rank 6 of 19inS&P 500 Deep Buffer 25-30%
Intraday session: down, 79 prints from 52.88 to 52.81. Range 52.78 to 53.09. Use the arrow keys to read each point.52.9553.0053.0553.1010 AM12 PM2 PM4 PM
Expense ratio
0.85%
Fund size
$410M
1Y total return
+11.4%
Yield · Last 12 months
No data
Holdings
3
Avg volume · 30D
9.71K sh
52W range
low $47.01high $53.18
Launched
Filings
SEC EDGAR

The ETF.net DNOV Grade

Based on 5 of 6 pillars

C

Score 50 out of 100

Category
S&P 500 Deep Buffer 25-30%⁠
Rank
6 of 19
Six-pillar profile for DNOV. Scores out of 100: Cost 31, Risk 61, Mission not scored, Tradability 69, Holdings 55, Durability 77. Strongest: Durability (77). Weakest: Cost (31). Based on 5 of 6 pillars.

Score 50 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    D31 out of 100
    Rank 8 of 19

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B61 out of 100
    Rank 4 of 19

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B69 out of 100
    Rank 6 of 19

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B55 out of 100
    Rank 9 of 12

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A77 out of 100
    Rank 3 of 19

Our read on DNOV

ETF.net Research

In short

CA deep-buffer take on the S&P 500: you absorb the first 5% of a drop, the fund's design targets the next 25 points of losses, and your upside is capped for the year. The terms reset every November.

Stated mandate

The Fund seeks returns matching the price return of the State Street® SPDR® S&P 500® ETF Trust up to a 12.93% upside cap, while buffering Underlying ETF losses between -5% and -30% during the November 24, 2025–November 20, 2026 outcome period.

Why people hold it

  • Deep buffer, not the entry-level kind: the design targets absorbing reference-fund losses from -5% down to -30% over each one-year outcome period, a 25-point band of cushion.ftportfolios.com
  • One of twelve monthly siblings (DFEB, DMAR, DJUN and the rest), so entry dates can be laddered across the calendar instead of hinging on a single November start.
  • Live since 2019 and through multiple full outcome periods, with a 0.85% fee that sits right at the median for deep-buffer funds.
  • A multi-hundred-million-dollar fund from First Trust, one of the more established names running defined-outcome strategies.

Worth knowing

  • The cap is the price of the cushion, and it resets each November. Buy mid-period and your actual cap and remaining buffer differ from the headline terms.ftportfolios.com
  • It references the SPDR S&P 500 ETF Trust's price return, so index dividends are outside the payoff, and the fund itself has not been making regular distributions.
  • The first 5% of losses and anything past -30% land on you. Shares trade lightly, so spreads matter, and cheaper deep-buffer options exist (PSCX, PSCW at 0.49%).

DNOV Performance

Launched Nov 15, 2019

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.
DNOV$11,144
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,146
Oct 31, 2025 to Nov 2, 2026. DNOV $11,144. SPY $11,146. Use the arrow keys to read each point.$10,000$11,000Oct 2025May 2026Nov 2026

Oct 31, 2025 – Nov 2, 2026

Returns run to the Nov 2, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for DNOV. Periods over one year show the average yearly return.
PeriodDNOV
Year to date+8.1%
1 month0.0%
3 months+2.1%
1 year+11.4%
3 yearsper year+13.9%
5 yearsper year+8.6%
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for DNOV
YearReturn barDNOV
2026 YTD+8.1%
2025+13.9%
2024+10.7%
2023+18.5%
2022−7.5%
2021+6.0%
2020+7.5%

DNOV in the news

DNOV Dividends

This fund pays no distributions.
No dataLast 12 months
Payout per share
No dataLast 12 months

No distributions in the last 12 months.

DNOV Risk

Risk pillarB61 out of 100Rank 4 of 19 in S&P 500 Deep Buffer 25-30%
How much the fund’s monthly returns vary, scaled to a year.
6.9%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
1.44
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−10.0%
Trough Apr 2025
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.55
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

DNOV Cost

Compare DNOV and CTJL

Overpaying vs CTJL, tied cheapest in S&P 500 Deep Buffer 25-30%

$10,050

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • DNOV 0.85%

    $16,199

  • CTJL 0.30% Tied cheapest

    $6,149

$10,000
30 years

Cost over time

  • DNOV 0.85%
  • CTJL 0.30%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530DNOV $16,199CTJL $6,149

Year by year

YearDNOVCTJLOverpaying
10$1,508$545$963
20$5,706$2,113$3,593
30$16,199$6,149$10,050

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