FT Vest U.S. Equity Enhance & Moderate Buffer ETF - November
$40.63+0.01 (+0.01%)
- 0.85%
- $26M
- +11.1%
- 0M sh
- $40.60
- low $36.52high $40.64
The ETF.net XNOV Grade
C
Score 50 out of 100
- 4 of 7
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.D39 out of 100Rank 2 of 7Mission
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.C51 out of 100Rank 3 of 6Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B67 out of 100Rank 2 of 7Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.B66 out of 100Rank 2 of 5Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.D38 out of 100Rank 6 of 7
Our read on XNOV
CMost upside-boosted funds pay for the boost by dropping downside cover. XNOV runs both at once: roughly twice the price gain of the big S&P 500 ETF up to a cap, plus a 15% buffer, on a November-to-November clock that resets each year.
The Fund seeks approximately twice the positive price return of the State Street® SPDR® S&P 500® ETF Trust, subject to an 11.06% upside cap, while protecting against the first 15% of losses during its November 2025–November 2026 outcome period.
Why people hold it
- Two-sided design: it aims for about twice the reference S&P 500 ETF's price gain up to a cap while absorbing the first 15% of losses across the outcome period.
- The payoff is written in FLEX options on the SPDR S&P 500 ETF Trust, so the terms are defined in the fund's documents up front, not left to a manager's judgment.ftportfolios.com
- One of a monthly series running the same recipe on different calendars (XMAR, XJUN, XDEC), so the 2x-plus-15%-buffer structure isn't tied to a single start date.
- Terms are mechanical and repeat: the doubled upside and 15% buffer carry into each new period, with a fresh cap struck every November since the 2023 launch.
Worth knowing
- The fee is 0.85%, above the 0.79% typical in its accelerated-buffer peer group. Structured payoffs cost more than plain index exposure.
- It's thinly traded, so spreads and order handling matter more here than with mainstream S&P 500 funds.
- Upside stops at the cap, income isn't part of the design, and the buffer math applies over the full period. Enter mid-period and your own cap and buffer differ from the stated terms.ftportfolios.com
XNOV Holdings
- Other
- 4
- 124%
- 2026-11-20 State Street® SPDR® S&P 500® ETF Trust C 6.60
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%
XNOV 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.Not enough history yet.Not enough history yet.
XNOV$11,113
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 | XNOV |
|---|---|
| Year to date | +7.3% |
| 1 month | +0.8% |
| 3 months | +2.1% |
| 1 year | +11.1% |
| 3 years | — |
| 5 years | — |
| 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 | XNOV |
|---|---|---|
| 2026 YTD | +7.3% | |
| 2025 | +11.3% | |
| 2024 | +8.2% | |
| 2023 | +2.1% |
XNOV in the news
XNOV Dividends
No distributions in the last 12 months.
XNOV Risk
- 4.2%
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.
- 1.24
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.
- −10.0%
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.
- 0.32
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
XNOV Cost
0.85%
XNOV0.85%
- The middle half of S&P 500 Accelerated, 15% Buffer funds
- Median 0.85%
1 of the 7 S&P 500 Accelerated, 15% Buffer funds charge less.
Other funds in S&P 500 Accelerated, 15% Buffer
- BXMARFT Vest U.S. Equity Enhance & Moderate Buffer ETF - MarchExpense ratio 0.85%1 year return +12.0%
- CXJUNFT Vest U.S. Equity Enhance & Moderate Buffer ETF - JuneExpense ratio 0.85%1 year return +8.9%
- CXSEPFT Vest U.S. Equity Enhance & Moderate Buffer ETF - SeptemberExpense ratio 0.85%1 year return +10.7%
- CXDECFT Vest U.S. Equity Enhance & Moderate Buffer ETF - DecemberExpense ratio 0.85%1 year return +10.2%
- CXJANFirst Trust Exchange Traded Fund VIII - FT Vest U.S. Equity Enhance & Moderate Buffer ETF - JanuaryExpense ratio 0.85%1 year return +10.1%