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SNOV

GradeDChicago Board Options Exchange

FT Vest U.S. Small Cap Moderate Buffer ETF - November

Buffered · First Trust · Inception 2023-11-17

$27.32−0.05 (−0.18%)

As of Sep 24, 2026, 3:44 PM EDT

History starts Nov 20, 2023.
Intraday session: down, 64 prints from 27.37 to 27.32. Range 27.25 to 27.36. Use the arrow keys to read each point.$27.25$27.27$27.30$27.3510 AM12 PM2 PM4 PM
Expense ratio
0.90%
Fund size
$114M
1Y return
+10.2%
Yield · Last 12 months
—
Holdings
4
Volume · 30D
0M sh
NAV per share
$27.53
52W range
low $23.39high $27.63

The ETF.net SNOV Grade

D

27/ 100

Rank 19 of 21 in Russell 2000 Buffer 15%⁠

Confidence Medium

Six-pillar profile for SNOV. Scores out of 100: Cost 3, Risk 25, Mission not scored, Tradability 64, Holdings 50, Durability 82. Strongest: Durability (82). Weakest: Cost (3). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 27 of 100 sits in the D band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    FScore 3
    Category rank21/21 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    DScore 25
    Category rank19/19 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 64
    Category rank7/21 · top 33%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    CScore 50
    Category rank5/6 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    AScore 82
    Category rank6/21 · top 29%

Graded as of Sep 23, 2026 · Based on 5 of 6 pillars

Our read on SNOV

ETF.net Research

DA buffer built on small caps, not the S&P 500. It uses options on the Russell 2000 to absorb the first 15% of a year's losses, with upside capped at a level set each November when the period resets.

Stated mandate

The Fund seeks to match the price return of the iShares Russell 2000 ETF, subject to an upside cap, while buffering the first 15% of losses over its stated target outcome period.

Why people hold it

  1. 01The contract is stated up front: options on the Russell 2000, the first 15% of price losses absorbed over roughly one year, upside capped. You know the shape going in.ftportfolios.com
  2. 02The sleeve is exchange-listed, centrally cleared FLEX options on one plain small-cap index fund, not a bank-issued structured note.ftportfolios.combusinesswire.com
  3. 03The November slot in First Trust's monthly small-cap buffer series, so a period reset is always coming; the same funds feed the firm's laddered version.businesswire.com

Worth knowing

  1. 01At 0.90% it sits above the small-cap buffer norm. Innovator's Russell 2000 versions (KOCT, KJAN, KJUL) run 0.79%.
  2. 02Buffer and cap are struck at the period's start and quoted before fees and expenses. Buy mid-period and the cushion and ceiling you actually get will differ.businesswire.com
  3. 03Price return only, so Russell 2000 dividends don't pass through and this is not an income holding. It also trades lightly, which can widen spreads.ftportfolios.com

SNOV Holdings

As of Sep 23, 2026, 8:52 PM
Asset class
Other
Holdings
4
Top-10 weight
105%
Largest holding
2026-11-20 iShares Russell 2000 ETF C 2.36104.9%

Sectors

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—2026-11-20 iShares Russell 2000 ETF C 2.36104.92%4,214$120M1
002—US Dollar0.36%410,494$410K404
003—2026-11-20 iShares Russell 2000 ETF P 235.600.21%4,214$241K1

Showing 1–3 of 3 holdings

SNOV Performance

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

SNOV$11,019
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,702
Sep 23, 2025 to Sep 23, 2026. SNOV $11,019. SPY $11,702. Use the arrow keys to read each point.$9,404$10,705$12,005Sep 2025Mar 2026Sep 2026

Sep 23, 2025 – Sep 23, 2026

Returns run to the Sep 23, 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 SNOV. Periods over one year show the average yearly return.
PeriodSNOV
Year to date+10.7%
1 month−0.4%
3 months+1.7%
1 year+10.2%
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, 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 SNOV
YearReturn barSNOV
2026 YTD+10.7%
2025+7.0%
2024+9.2%
2023+5.6%

History from Nov 20, 2023

SNOV in the news

ETF.net Research hasn’t filed on SNOV yet — coverage lands here as it’s written.

SNOV Dividends

This fund pays no distributions.
—Last 12 months
Payout per share
—Last 12 months

No distributions in the last 12 months.

SNOV Risk

How much the fund’s monthly returns vary, scaled to a year.
8.2%
Annualised · 33 months to Aug 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.
0.90
vs 3-month T-bills · 33 months to Aug 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.
−15.3%
34 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.
0.56
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.

SNOV Cost

Expense ratio0.90%
  • The middle half of Russell 2000 Buffer 15% funds
  • Median 0.74%

12 of the 14 Russell 2000 Buffer 15% funds charge less.

SNOV costs $90.00 a year on $10,000. The median Russell 2000 Buffer 15% fund costs $74.00.