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ETFs

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

FNOV
$--
Today’s Change
-- (--)

Snapshot
*

Inception Date
Nov 15 2019
Expense Ratio
0.85%
Type
US Equities
Fund Owner
First Trust
Volume (1m avg. daily)
$1,971,249
AUM
$372,198,072
Associated Index
SPDR S&P 500 ETF Trust
Inverse/Leveraged
No
Passive/Active
Passive
Fractionable on Composer
Yes
Prospectus
View

Top 10 Holdings

n/a
2023-11-17 SPDR S&P 500 ETF Trust C 3.96
96.69%
n/a
2023-11-17 SPDR S&P 500 ETF Trust P 396.03
5.86%
n/a
US Dollar
0.93%
n/a
2023-11-17 SPDR S&P 500 ETF Trust C 490.17
-0.24%
n/a
2023-11-17 SPDR S&P 500 ETF Trust P 356.43
-3.24%
Invest with FNOV

What is FNOV?

The investment objective of the FT Cboe Vest U.S. Equity Buffer ETF - November is to seek to provide investors with returns (before fees, expenses and taxes) that match those of the SPDR S&P 500 ETF Trust (the "Underlying ETF"), up to a predetermined upside cap of 12.36% (before fees, expenses and taxes) and 11.50% (after fees and expenses, excluding brokerage commissions, trading fees, taxes and extraordinary expenses not included in the Funds management fee), while providing a buffer against the first 10% (before fees, expenses and taxes) of Underlying ETF losses, over the period from November 18, 2019 to November 20, 2020. Under normal market conditions, the Fund will invest substantially all of its assets in FLexible EXchange Options that reference the performance of the SPDR S&P 500 ETF Trust.

ETFs related toFNOV

ETFs correlated to FNOV include FDEC, FOCT, SPLG

FNOV
First Trust Exchange-Traded Fund VIII - First Trust Cboe Vest U.S. Equity Buffer ETF - November
FDEC
First Trust Exchange-Traded Fund VIII - FT Cboe Vest U.S. Equity Buffer ETF - December
FOCT
First Trust Exchange-Traded Fund VIII - FT Cboe Vest U.S. Equity Buffer ETF -October
SPLG
SPDR Series Trust - SPDR Portfolio S&P 500 ETF
VOTE
Engine No. 1 ETF Trust - Engine No. 1 Transform 500 ETF
BBUS
J.P. Morgan Exchange-Traded Fund Trust - JPMorgan BetaBuilders U.S. Equity ETF
SCHX
Schwab Strategic Trust - Schwab U.S. Large-Cap ETF
SSO
ProShares Trust - ProShares Ultra S&P500 2x Shares
SPUU
Direxion Shares ETF Trust - Direxion Daily S&P 500 Bull 2X Shares
IWB
BlackRock Institutional Trust Company N.A. - iShares Russell 1000 ETF
SPXL
Direxion Shares ETF Trust - Direxion Daily S&P 500 Bull 3X Shares

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

Automated Strategies
Related toFNOV

#SPYMIN

SPY minimum drawdown

Category

Community

Risk Rating

Aggressive

Create your own algorithmic trading strategy with FNOV using Composer

FAQ

FNOV is a US Equities ETF. The investment objective of the FT Cboe Vest U.S. Equity Buffer ETF - November is to seek to provide investors with returns (before fees, expenses and taxes) that match those of the SPDR S&P 500 ETF Trust (the "Underlying ETF"), up to a predetermined upside cap of 12.36% (before fees, expenses and taxes) and 11.50% (after fees and expenses, excluding brokerage commissions, trading fees, taxes and extraordinary expenses not included in the Funds management fee), while providing a buffer against the first 10% (before fees, expenses and taxes) of Underlying ETF losses, over the period from November 18, 2019 to November 20, 2020. Under normal market conditions, the Fund will invest substantially all of its assets in FLexible EXchange Options that reference the performance of the SPDR S&P 500 ETF Trust.

FNOV tracks the SPDR S&P 500 ETF Trust.

No, FNOV is not actively managed. It is passively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

Yes, FNOV is passively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on FNOV is -0.0133%. This is the percent change in the value of FNOV over the most recent 1-month period. The 3-month return on FNOV is 0.0351%. This is the percent change in the value of FNOV over the most recent 3-month period.

The standard deviation of FNOV for the past year is 0.1705%. Standard deviation is the typical amount that the daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

ETFs similar to FNOV include BUFR, BALT, and FFEB.

ETFs correlated to FNOV include FDEC, FOCT, and SPLG.

ETFs that are inversely correlated to FNOV include SH, SPDN, and SDS.

Disclaimers

*

We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.