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KOCT vs SNOV

Innovator U.S. Small Cap Power Buffer ETF

KOCTBCboe

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

SNOVDCboe

Overlap

0.0%by weight

Expense ratio

KOCT −0.11pt a year

KOCT0.79%SNOV0.90%

Avg volume · 30D

KOCT 3.7×the volume

KOCT30.9KSNOV8.26K

KOCT vs SNOV Performance

Nov 7, 2025 – Nov 9, 2026

+15.8%KOCT+13.2%SNOV

Nov 7, 2025 to Nov 9, 2026. KOCT +15.8%. SNOV +13.2%. Use the arrow keys to read each point.0%5%10%Nov 2025May 2026Nov 2026
Expense ratio
KOCT 0.79%, better
SNOV 0.90%
Fund size
KOCT $169M
SNOV $112M
1Y total return
KOCT +15.8%, better
SNOV +13.2%
Yield (12M)
KOCT 0.00%
SNOV No data
Holdings
KOCT 3
SNOV 3
Avg volume (30D)
KOCT 30.9K sh, better
SNOV 8.26K sh
NAV per share
KOCT $37.45
SNOV $27.35
52W range

ETF.net Grade

KOCT: Cost 40, Risk 62, Mission 89, Tradability 81, Holdings not scored, Durability 87. SNOV: Cost 8, Risk 43, Mission not scored, Tradability 73, Holdings 49, Durability 83.
Pillar letters and Scores for KOCT, SNOV, with each pillar’s weight
PillarKOCTSNOV
Cost30% weightC40HigherF8
Mission25% weightA89Not scored
Risk15% weightB62HigherC43
Tradability15% weightA81HigherA73
Holdings10% weightNot scoredC49
Durability5% weightA87HigherA83

Rank among Russell 2000 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. KOCT and SNOV are both graded against the same 14 Russell 2000 Buffer 15% funds, so their Grades compare head to head.

Russell 2000 Buffer 15%⁠

Category · 14 funds
See all 14 ›

KOCT ranks 3rd and SNOV 13th of 14 funds in the Russell 2000 Buffer 15% Category.

  1. Rank 1BQBKFAllianzim U.S. Small Cap Buffer15 ETFScore 64
  2. Rank 2BQBKVAllianzim U.S. Small Cap Buffer5 ETFScore 59
  3. Rank 3BKOCTInnovator U.S. Small Cap Power Buffer ETFScore 58
  4. Rank 4CKAPRInnovator U.S. Small Cap Power Buffer ETF - AprilScore 53
  5. Rank 12DBUFSFT Vest Laddered Small Cap Moderate Buffer ETFScore 38
  6. Rank 13DSNOVFT Vest U.S. Small Cap Moderate Buffer ETF - NovemberScore 36
  7. Rank 14DSMAYFT Vest U.S. Small Cap Moderate Buffer ETF - MayScore 27

Our read on each fund

ETF.net Research

KOCTBInnovator U.S. Small Cap Power Buffer ETF

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

In short

KOCT Small-cap exposure with a seatbelt. KOCT tracks IWM up to a yearly cap while absorbing the first 15% of losses, resetting each October 1. A 2019 original in a corner where most buffer funds are built on the S&P 500.

SNOV A 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

KOCT The Fund seeks to track the return of the iShares Russell 2000 ETF, subject to a predetermined upside cap, while protecting against the first 15% of losses during the outcome period.

SNOV 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

  • KOCT The contract is plain: track the iShares Russell 2000 ETF up to a preset cap, with the first 15% of losses over the one-year outcome period absorbed first.innovatoretfs.com
  • Rare air: it listed October 1, 2019 in Innovator's first small-cap buffer wave. Most defined-outcome ETFs wrap the S&P 500, not the Russell 2000.accessnewswire.com
  • Fee lands at 0.79%, the middle of its small-cap buffer group, and the fund rates in the upper half of that group on our review.
  • You pick your calendar. This is the October reset; siblings KJAN, KAPR and KJUL run the same 15% buffer off other quarters.
  • SNOV The 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
  • The sleeve is exchange-listed, centrally cleared FLEX options on one plain small-cap index fund, not a bank-issued structured note.ftportfolios.combusinesswire.com
  • The 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

  • KOCT The cap is the price of the cushion. A blistering small-cap year gets trimmed, and the cap is reset for each new outcome period starting October 1.
  • Timing matters: Innovator notes the stated outcomes apply to holders from the first day of the outcome period through the last. Buy mid-period and your own cap and buffer differ.innovatoretfs.com
  • Trading is light versus mainstream small-cap funds, and the options-based structure isn't built to throw off income.
  • SNOV At 0.90% it sits above the small-cap buffer norm. Innovator's Russell 2000 versions (KOCT, KJAN, KJUL) run 0.79%.
  • Buffer 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
  • Price 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

Full KOCT profile⁠

Full SNOV profile⁠

KOCT vs SNOV Holdings

How KOCT and SNOV differ

Overlap by weight

0.0%

About this figure: SNOV holds other funds. We compare those funds, not the stocks inside them.

Level by level

  • Holdings0 in both0.0%
  • Sector11 Sectors99.3%
  • Countryby domicile100%

Sector

Sector weights in KOCT and SNOV, widest gap first
SectorMore in KOCTMore in SNOVGap
TechnologySNOV +0.5 points
Consumer DiscretionaryKOCT +0.3 points
Health CareSNOV +0.2 points
IndustrialsKOCT +0.1 points
EnergyKOCT +0.1 points
Real EstateKOCT +0.1 points
FinancialsKOCT +0.1 points
MaterialsSNOV +0.1 points
CommunicationSame weight
UtilitiesSame weight
Consumer StaplesSame weight

Country, concentration and asset class

Country by domicile

Country weights in KOCT and SNOV, widest gap first
CountryMore in KOCTMore in SNOVGap
United StatesSame weight
BrazilSame weight
SwitzerlandSame weight
CanadaSame weight
United KingdomSame weight
TaiwanSame weight
NorwaySame weight
SingaporeSame weight
Other countries (5)Same weight

Concentration

Weight in the 10 largest Holdings

  • KOCT105.2%
  • SNOV101.1%

Securities held

  • KOCT3
  • SNOV2

Asset class

KOCT
Stocks
SNOV
Multi-Asset

Holdings

  • Only in KOCT3
  • In both0
  • Only in SNOV2

Only in KOCT

3 securities, 100% of KOCT by weight

  • Iwm 09/30/2027 2.78 C97.40%
  • Iwm 09/30/2027 277.89 P7.44%
  • Us Bank Mmda - Usbgfs 9 09/01/20370.33%

Only in SNOV

2 securities, 100% of SNOV by weight

  • 2026-11-20 iShares Russell 2000 ETF C 2.36100.69%
  • 2026-11-20 iShares Russell 2000 ETF P 235.600.15%

Weight gaps

KOCT and SNOV share no securities.

All 6 KOCT holdings⁠All 4 SNOV 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.

KOCT vs SNOV Cost

Overpaying SNOV vs KOCT

$1,866

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

  • KOCT 0.79%

    $15,174

  • SNOV 0.90%

    $17,040

$10,000
30 years

Cost over time

  • KOCT 0.79%
  • SNOV 0.90%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530SNOV $17,040KOCT $15,174

Year by year

YearKOCTSNOVOverpaying
10$1,405$1,593$188
20$5,331$6,015$684
30$15,174$17,040$1,866

Expense ratio

  • 0.79%KOCT, cheaper
  • 0.90%SNOV
  • Middle half of Russell 2000 Buffer 15% funds
  • Median 0.77%

KOCT 8th cheapest of 14 funds

SNOV 12th cheapest of 14 funds

KOCT vs SNOV Dividends

Last 12 months to Nov 9, 2026
Yield (12M)
KOCT 0.00%
SNOV No data
Payout (12M)
KOCT None
SNOV None

Distribution history

Per share, 2019, same scale for both

KOCT1 paymentAll KOCT payments⁠
One bar per payment. 1 payment in 2019. Nov 19, 2019 $0.20. Use the arrow keys to read each point.$0$0.202019
SNOVAll SNOV payments⁠

No distribution history available.

KOCT vs SNOV Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
KOCT 8.8%SNOV 8.1%since Dec 2023
Return per unit of riskSharpe ratio, 3 years
KOCT 1.17SNOV 0.85since Dec 2023
Worst fallMax drawdown, 5 years
KOCT −16.6%SNOV −15.3%since Nov 2023
Market sensitivityBeta, 5 years
KOCT 0.63SNOV 0.56

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