FT Vest U.S. Equity Buffer ETF - November
$60.81+0.04 (+0.06%)
- 0.85%
- $1.3B
- +16.1%
- 0M sh
- $60.77
- low $52.25high $60.87
The ETF.net FNOV Grade
C
Score 44 out of 100
- 49 of 77
Score 44 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.F11 out of 100Rank 60 of 77Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C47 out of 100Rank 48 of 76Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A83 out of 100Rank 5 of 77Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.B60 out of 100Rank 18 of 44Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A90 out of 100Rank 2 of 77
Our read on FNOV
COne of the original November-reset buffer funds: since 2019 it has run a rolling 12-month claim on SPY's price, absorbing the first 10% of losses in exchange for an upside cap that resets every November.
The Fund seeks returns matching the price return of the State Street® SPDR® S&P 500® ETF Trust, up to a predetermined cap, while buffering the first 10% of losses during the current November outcome period.
Why people hold it
- The deal is written down, not improvised: FLEX options on SPY, the first 10% of price losses absorbed, upside capped, everything reset on a known November date.sec.gov
- Live since November 2019, through a bear market and multiple resets, and now a multi-billion-dollar member of First Trust's every-month buffer ladder.sec.gov
- The options settle through the Options Clearing Corporation, so the buffer does not hang on a single bank's creditworthiness the way a structured note does.sec.gov
Worth knowing
- The 10% buffer and the cap belong to the full outcome period. Buy mid-period and your own cushion and upside room differ from the headline terms.sec.gov
- 0.85% a year, above the typical buffer fund. Similar 10% buffer exposure trades cheaper elsewhere, such as ZALT at 0.69% or the laddered BUFB at 0.10%.
- It follows SPY's price return, so index dividends do not come through and the fund is not built as an income payer.
FNOV Holdings
- Other
- 3
- 103%
- 2026-11-20 State Street® SPDR® S&P 500® ETF Trust C 6.59
Sectors
- Technology40.1%
- Financials11.3%
- Communication9.9%
- Health Care9.4%
- Consumer Discretionary8.7%
- Industrials7.6%
- Consumer Staples4.4%
- Energy3.4%
- Utilities1.9%
- Real Estate1.7%
- Materials1.6%
FNOV Performance
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.
FNOV$11,606
Returns run to the Oct 12, 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.
| Period | FNOV |
|---|---|
| Year to date | +10.9% |
| 1 month | +1.4% |
| 3 months | +3.3% |
| 1 year | +16.1% |
| 3 years | +15.6% |
| 5 years | +9.7% |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | FNOV |
|---|---|---|
| 2026 YTD | +10.9% | |
| 2025 | +14.7% | |
| 2024 | +12.5% | |
| 2023 | +19.7% | |
| 2022 | −8.9% | |
| 2021 | +10.8% | |
| 2020 | +12.3% |
FNOV in the news
Filings Digest
AllianzIM launches OCTI and resets October buffer terms
FNOV Dividends
No distributions in the last 12 months.
FNOV Risk
- 8.1%
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.
- 1.29
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.
- −15.9%
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.
- 0.67
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FNOV Cost
0.85%
FNOV0.85%
- The middle half of S&P 500 Buffer 9-12% funds
- Median 0.79%
59 of the 77 S&P 500 Buffer 9-12% funds charge less.
Other funds in S&P 500 Buffer 9-12%
- CFSEPFT Vest U.S. Equity Buffer ETF - SeptemberExpense ratio 0.85%1 year return +16.0%
- CDHDGFT Vest U.S. Equity Quarterly 2.5 to 15 Buffer ETFExpense ratio 0.85%1 year return +16.3%
- CBNOVInnovator U.S. Equity Buffer ETFExpense ratio 0.79%1 year return +15.7%
- CDECZTrueShares Structured Outcome (December) ETFExpense ratio 0.79%1 year return +14.5%
- CFOCTFT Vest U.S. Equity Buffer ETF - OctoberExpense ratio 0.85%1 year return +16.4%