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Launched

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

GNOVCboeFirst TrustC

$43.09−0.13 (−0.30%)

As of Nov 10, 2026, 11:15 AM ET

C44/ 100

Rank 29 of 61 in S&P 500 Buffer 15%

C44/100Rank 29 of 61inS&P 500 Buffer 15%
Intraday session: down, 21 prints from 43.22 to 43.09. Range 43.03 to 43.13. Use the arrow keys to read each point.43.0543.1510 AM12 PM2 PM4 PM
Expense ratio
0.85%
Fund size
$293M
1Y total return
+12.3%
Yield · Last 12 months
No data
Holdings
3
Avg volume · 30D
7.97K sh
52W range
low $38.20high $43.36
Launched

The ETF.net GNOV Grade

Based on 5 of 6 pillars

C

Score 44 out of 100

Category
S&P 500 Buffer 15%⁠
Rank
29 of 61
Six-pillar profile for GNOV. Scores out of 100: Cost 13, Risk 64, Mission not scored, Tradability 74, Holdings 55, Durability 72. Strongest: Tradability (74). Weakest: Cost (13). Based on 5 of 6 pillars.

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.
    F13 out of 100
    Rank 47 of 61

  • 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.
    B64 out of 100
    Rank 5 of 60

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A74 out of 100
    Rank 7 of 61

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B55 out of 100
    Rank 20 of 34

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A72 out of 100
    Rank 20 of 61

Our read on GNOV

ETF.net Research

In short

CFirst Trust's November rung in a 12-month buffer ladder: it follows SPY's price return (dividends excluded), absorbs the first 15% of a period's losses, and caps the upside in exchange.

Stated mandate

The Fund seeks to match the price return of the State Street® SPDR® S&P 500® ETF Trust, subject to a predetermined upside cap and protection against the first 15% of losses during the stated outcome period.

Why people hold it

  • The cushion is written into the fund's terms: the first 15% of SPY's price decline over the outcome period is absorbed before losses reach you.
  • The outcome period runs November to November and resets annually, so it slots in as one rung of First Trust's monthly moderate-buffer ladder (GJAN, GAPR, GJUL and the rest).
  • Reference asset is SPY itself, plain vanilla US large caps, not a bespoke options index. And it comes in a registered 1940 Act fund, not a bank-issued note.

Worth knowing

  • At 0.85%, the fee sits above the 0.79% median for its buffer peer group and far above laddered options like BUFF at 0.10%.
  • Buffer and cap are engineered for the full November-to-November stretch. Buy mid-period and you get whatever cushion and headroom are left, not the stated terms.
  • It trades lightly next to the biggest buffer ETFs, which can mean wider spreads; limit orders are the standard approach.

GNOV Performance

Launched Nov 17, 2023

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.Not enough history yet.Not enough history yet.
GNOV$11,230
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,339
Nov 7, 2025 to Nov 9, 2026. GNOV $11,230. SPY $11,339. Use the arrow keys to read each point.$10,000$11,000Nov 2025May 2026Nov 2026

Nov 7, 2025 – Nov 9, 2026

Returns run to the Nov 9, 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 GNOV. Periods over one year show the average yearly return.
PeriodGNOV
Year to date+8.7%
1 month0.0%
3 months+1.6%
1 year+12.3%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
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 GNOV
YearReturn barGNOV
2026 YTD+8.7%
2025+13.6%
2024+10.3%
2023+2.9%

History from Nov 20, 2023

GNOV in the news

GNOV Dividends

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

No distributions in the last 12 months.

GNOV Risk

Risk pillarB64 out of 100Rank 5 of 60 in S&P 500 Buffer 15%
How much the fund’s monthly returns vary, scaled to a year.
5.2%
Annualised · 35 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.
1.35
vs 3-month T-bills · 35 months 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.
−10.7%
35 months · 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.
0.38
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.

GNOV Cost

Compare GNOV and CAUG

Overpaying vs CAUG, tied cheapest in S&P 500 Buffer 15%

$10,050

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

  • GNOV 0.85%

    $16,199

  • CAUG 0.30% Tied cheapest

    $6,149

$10,000
30 years

Cost over time

  • GNOV 0.85%
  • CAUG 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$20K051015202530GNOV $16,199CAUG $6,149

Year by year

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

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