FT Vest U.S. Equity Max Buffer ETF - November (NOVM) belongs to the Defined Outcome category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with NOVM. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to NOVM
NOVM charges 0.85% annually. There are 215 ETFs in the Defined Outcome category with lower expense ratios, going as low as 0.25%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Aptus April Buffer ETF | 0.25% | — | Oct 2025 | NOVM vs APRB | |
| Aptus October Buffer ETF | 0.25% | — | Oct 2025 | NOVM vs OCTB | |
| Aptus July Buffer ETF | 0.25% | — | Oct 2025 | NOVM vs JULB | |
| Aptus January Buffer ETF | 0.25% | — | Oct 2025 | NOVM vs JANB | |
| Fidelity Dynamic Buffered Equity ETF | 0.48% | — | Apr 2024 | NOVM vs FBUF |
Best Risk-Adjusted Alternatives to NOVM
NOVM has a PortfoliosLab risk / return rank of 96. There are 25 ETFs in the Defined Outcome category with higher risk-adjusted ranks, going as high as 99.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | 99 | — | Mar 2025 | NOVM vs PMAP | |
| iShares Large Cap Max Buffer Mar ETF | 98 | — | Mar 2025 | NOVM vs MMAX | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 98 | 19.60M | Apr 2025 | NOVM vs CPSP | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | 98 | — | Apr 2025 | NOVM vs ZAPR | |
| Innovator U.S. Equity Accelerated 9 Buffer ETF - A... | 98 | 134.85M | Mar 2021 | NOVM vs XBAP |
Top Performing NOVM Alternatives (YTD)
NOVM is at 2.95% YTD. There are 234 ETFs in the Defined Outcome category with higher YTD returns, going as high as 16.35%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Leverage Shares 2x Capped Accelerated NVDA Monthly... | 16.35% | — | Aug 2025 | NOVM vs NVDO | |
| Innovator U.S. Small Cap Power Buffer ETF - Februa... | 13.70% | — | Jan 2025 | NOVM vs KFEB | |
| Innovator Russell 2000 Power Buffer ETF - April | 13.15% | 214.51M | Mar 2020 | NOVM vs KAPR | |
| FT Cboe Vest Nasdaq-100 Buffer ETF - March | 12.87% | 568.10M | Mar 2021 | NOVM vs QMAR | |
| FT Vest Emerging Markets Buffer ETF - March | 12.87% | — | Mar 2025 | NOVM vs TMAR |
Lowest Volatility Alternatives to NOVM
NOVM has 2.10% 1-year volatility. There are 27 ETFs in the Defined Outcome category with lower 1-year volatility, going as low as 1.15%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | 1.15% | — | Mar 2025 | NOVM vs PMAP | |
| FT Vest U.S. Equity Max Buffer ETF - April | 1.24% | — | Apr 2025 | NOVM vs APXM | |
| PGIM S&P 500 Max Buffer ETF - May | 1.30% | — | Apr 2025 | NOVM vs PMMY | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 1.34% | 19.60M | Apr 2025 | NOVM vs CPSP | |
| iShares Large Cap Max Buffer Mar ETF | 1.41% | — | Mar 2025 | NOVM vs MMAX |
Lowest Drawdown Alternatives to NOVM
NOVM has a 1-year max drawdown of -1.48%. There are 41 ETFs in the Defined Outcome category with shallower 1-year drawdowns, going as shallow as -0.35%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | -0.35% | — | Mar 2025 | NOVM vs PMAP | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | -0.37% | 19.60M | Apr 2025 | NOVM vs CPSP | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | -0.40% | — | Apr 2025 | NOVM vs ZAPR | |
| iShares Large Cap Max Buffer Mar ETF | -0.46% | — | Mar 2025 | NOVM vs MMAX | |
| Calamos S&P 500 Structured Alt Protection ETF - Ma... | -0.49% | 56.60M | May 2024 | NOVM vs CPSM |
Other ETFs from First Trust
The 10 most viewed First Trust ETFs shown here include CIBR, GRID, AIRR and span 14 categories. AUM among these funds goes as high as $14B.
Often Compared With NOVM
Investors most often compare NOVM with ZMAY, EAPR, PQAP. These 17 comparison targets span 10 categories, based on PortfoliosLab usage data.
Compare NOVM with Any Fund or Stock
Compare NOVM with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair NOVM with funds that move differently
FT Vest U.S. Equity Max Buffer ETF - November alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to NOVM.
Explore NOVM Diversifiers