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GNOV vs PSMO

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

GNOVCCboe

Pacer Swan SOS Moderate (October) ETF

PSMOBCboe

Overlap

Expense ratio

PSMO −0.36pt a year

GNOV0.85%PSMO0.49%

Avg volume · 30D

PSMO 1.02×the volume

GNOV7.97KPSMO8.14K

GNOV vs PSMO Performance

Nov 7, 2025 – Nov 9, 2026

+12.3%GNOV+10.5%PSMO

Nov 7, 2025 to Nov 9, 2026. GNOV +12.3%. PSMO +10.5%. Use the arrow keys to read each point.−2.5%0%2.5%5%7.5%Nov 2025May 2026Nov 2026
Expense ratio
GNOV 0.85%
PSMO 0.49%, better
Fund size
GNOV $293M
PSMO $117M
1Y total return
GNOV +12.3%, better
PSMO +10.5%
Holdings
GNOV 3
PSMO 3
Avg volume (30D)
GNOV 7.97K sh
PSMO 8.14K sh, better
NAV per share
GNOV $42.56
PSMO $32.98
52W range

ETF.net Grade

GNOV: Cost 13, Risk 64, Mission not scored, Tradability 74, Holdings 55, Durability 72. PSMO: Cost 70, Risk 47, Mission 95, Tradability 66, Holdings not scored, Durability 66.
Pillar letters and Scores for GNOV, PSMO, with each pillar’s weight
PillarGNOVPSMO
Cost30% weightF13A70Higher
Mission25% weightNot scoredA95
Risk15% weightB64HigherC47
Tradability15% weightA74HigherB66
Holdings10% weightB55Not scored
Durability5% weightA72HigherB66

Rank among S&P 500 Buffer 15% funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. GNOV and PSMO are both graded against the same 51 S&P 500 Buffer 15% funds, so their Grades compare head to head.

S&P 500 Buffer 15%⁠

Category · 51 funds
See all 51 ›

PSMO ranks 1st and GNOV 20th of 51 funds in the S&P 500 Buffer 15% Category.

  1. Rank 1BPSMOPacer Swan SOS Moderate (October) ETFScore 63
  2. Rank 2BPSMJPacer Swan SOS Moderate (July) ETFScore 60
  3. Rank 20CGMARFT Vest U.S. Equity Moderate Buffer ETF - MarchScore 44
  4. Rank 20CGNOVFT Vest U.S. Equity Moderate Buffer ETF - NovemberScore 44
  5. Rank 24CGFEBFT Vest U.S. Equity Moderate Buffer ETF - FebruaryScore 43

Our read on each fund

ETF.net Research

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

PSMOBPacer Swan SOS Moderate (October) ETF

In short

GNOV First 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.

PSMO A 15% cushion against SPY's first losses, reset every October, for 0.49% a year. Most defined-outcome funds charge more, and the trade is a cap on the upside that gets set fresh at the start of each period.

Stated mandate

GNOV 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.

PSMO The fund seeks to track the returns of the SPDR S&P 500 ETF Trust up to a stated cap while buffering the first 15% of losses during an approximately one-year outcome period.

Why people hold it

  • GNOV 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.
  • PSMO Charges 0.49% a year versus a 0.79% median across its 15%-buffer peer group, one of the lower-cost ways to own this structure.
  • Pacer's moderate SOS funds (PSMD, PSMR, PSMJ) all price at 0.49%, while the Innovator power-buffer lineup (POCT, PJUL, PJAN) runs 0.79%.
  • The reference asset is the SPDR S&P 500 ETF Trust itself, not an abstract index, so what's being buffered is a fund you can watch tick by tick.paceretfs.com

Worth knowing

  • GNOV 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.
  • PSMO Buffer and cap are engineered for the full one-year outcome period running October through September. Buy or sell mid-period and you may get neither in full.paceretfs.com
  • Upside stops at a cap reset each October. A runaway rally in the S&P 500 is the scenario this structure hands back in exchange for the 15% cushion.paceretfs.com
  • One of the quieter tickers in the buffer aisle, so spreads and order type matter more here than with the category's household names.

Full GNOV profile⁠

Full PSMO profile⁠

GNOV vs PSMO Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

GNOV vs PSMO Cost

Overpaying GNOV vs PSMO

$6,407

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

  • GNOV 0.85%

    $16,199

  • PSMO 0.49%

    $9,792

$10,000
30 years

Cost over time

  • GNOV 0.85%
  • PSMO 0.49%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530GNOV $16,199PSMO $9,792

Year by year

YearGNOVPSMOOverpaying
10$1,508$883$625
20$5,706$3,394$2,312
30$16,199$9,792$6,407

Expense ratio

  • 0.85%GNOV
  • 0.49%PSMO, cheaper
  • Middle half of S&P 500 Buffer 15% funds
  • Median 0.79%

PSMO 5th cheapest of 51 funds

GNOV 37th cheapest of 51 funds

GNOV vs PSMO Dividends

Last 12 months to Nov 9, 2026
Payout (12M)
GNOV None
PSMO None

Distribution history

GNOVAll GNOV payments⁠

No distribution history available.

PSMOAll PSMO payments⁠

No distribution history available.

GNOV vs PSMO Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
GNOV 5.2%since Dec 2023PSMO 5.9%
Return per unit of riskSharpe ratio, 3 years
GNOV 1.35since Dec 2023PSMO 1.31
Worst fallMax drawdown, 5 years
GNOV −10.7%since Nov 2023PSMO −9.8%
Market sensitivityBeta, 5 years
GNOV 0.38PSMO 0.41

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