PGIM S&P 500 Buffer 12 ETF - November (NOVP) 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 NOVP. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to NOVP
NOVP charges 0.50% annually. There are 5 ETFs in the Defined Outcome category with lower expense ratios, going as low as 0.25%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Aptus October Buffer ETF | 0.25% | — | Oct 2025 | NOVP vs OCTB | |
| Aptus April Buffer ETF | 0.25% | — | Oct 2025 | NOVP vs APRB | |
| Aptus July Buffer ETF | 0.25% | — | Oct 2025 | NOVP vs JULB | |
| Aptus January Buffer ETF | 0.25% | — | Oct 2025 | NOVP vs JANB | |
| Fidelity Dynamic Buffered Equity ETF | 0.48% | — | Apr 2024 | NOVP vs FBUF |
Best Risk-Adjusted Alternatives to NOVP
NOVP has a PortfoliosLab risk / return rank of 67. There are 171 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 | NOVP vs PMAP | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 98 | 19.60M | Apr 2025 | NOVP vs CPSP | |
| iShares Large Cap Max Buffer Mar ETF | 98 | — | Mar 2025 | NOVP vs MMAX | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | 98 | — | Apr 2025 | NOVP vs ZAPR | |
| Innovator U.S. Equity Accelerated 9 Buffer ETF - A... | 98 | 133.76M | Mar 2021 | NOVP vs XBAP |
Top Performing NOVP Alternatives (YTD)
NOVP is at 5.67% YTD. There are 86 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 | NOVP vs NVDO | |
| Innovator U.S. Small Cap Power Buffer ETF - Februa... | 13.45% | — | Jan 2025 | NOVP vs KFEB | |
| FT Vest Emerging Markets Buffer ETF - March | 12.94% | — | Mar 2025 | NOVP vs TMAR | |
| Innovator Russell 2000 Power Buffer ETF - April | 12.64% | 216.78M | Mar 2020 | NOVP vs KAPR | |
| FT Cboe Vest Nasdaq-100 Buffer ETF - March | 11.74% | 563.55M | Mar 2021 | NOVP vs QMAR |
Lowest Volatility Alternatives to NOVP
NOVP has 7.39% 1-year volatility. There are 188 ETFs in the Defined Outcome category with lower 1-year volatility, going as low as 1.16%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | 1.16% | — | Mar 2025 | NOVP vs PMAP | |
| FT Vest U.S. Equity Max Buffer ETF - April | 1.21% | — | Apr 2025 | NOVP vs APXM | |
| PGIM S&P 500 Max Buffer ETF - May | 1.28% | — | Apr 2025 | NOVP vs PMMY | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 1.34% | 19.60M | Apr 2025 | NOVP vs CPSP | |
| iShares Large Cap Max Buffer Mar ETF | 1.41% | — | Mar 2025 | NOVP vs MMAX |
Lowest Drawdown Alternatives to NOVP
NOVP has a 1-year max drawdown of -5.74%. There are 178 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 | NOVP vs PMAP | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | -0.37% | 19.60M | Apr 2025 | NOVP vs CPSP | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | -0.40% | — | Apr 2025 | NOVP vs ZAPR | |
| iShares Large Cap Max Buffer Mar ETF | -0.46% | — | Mar 2025 | NOVP vs MMAX | |
| Calamos S&P 500 Structured Alt Protection ETF - Ma... | -0.49% | 56.30M | May 2024 | NOVP vs CPSM |
Other ETFs from PGIM
The 10 most viewed PGIM ETFs shown here include PAAA, PULS, PFRL and span 10 categories. AUM among these funds goes as high as $17B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| PGIM AAA CLO ETF | CLO | 99 | 2.28% | 10.61B | Jul 2023 | NOVP vs PAAA | |
| PGIM Ultra Short Bond ETF | Ultrashort Bond | 99 | 1.98% | 17.34B | Apr 2018 | NOVP vs PULS | |
| PGIM Floating Rate Income ETF | Bank Loan | 94 | 2.49% | 116.68M | May 2022 | NOVP vs PFRL | |
| PGIM Short Duration Multi-Sector Bond ETF | Multisector Bonds | 90 | 1.48% | — | Jul 2023 | NOVP vs PSDM | |
| PGIM Laddered S&P 500 Buffer 12 ETF | Defined Outcome, S&P 500 | 85 | 5.56% | 183.97M | Jun 2024 | NOVP vs BUFP | |
| PGIM Ultra Short Municipal Bond ETF | Municipal Bonds | 92 | 1.49% | 98.37M | Jun 2024 | NOVP vs PUSH | |
| PGIM Laddered S&P 500 Buffer 20 ETF | Defined Outcome, S&P 500 | 90 | 4.21% | 154.43M | Jun 2024 | NOVP vs PBFR | |
| PGIM Short Duration High Yield ETF | High Yield Bonds | 77 | 2.33% | 160.90M | Dec 2023 | NOVP vs PSH | |
| PGIM Total Return Bond ETF | Intermediate Core-Plus Bond | 38 | 1.11% | 1.05B | Dec 2021 | NOVP vs PTRB | |
| PGIM Jennison Focused Growth ETF | Large Cap Growth Equities | 16 | -0.51% | 150.02M | Dec 2022 | NOVP vs PJFG |
Often Compared With NOVP
Investors most often compare NOVP with SMAX, BNO, LJUL. These 20 comparison targets span 8 categories, based on PortfoliosLab usage data.
Compare NOVP with Any Fund or Stock
Compare NOVP with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair NOVP with funds that move differently
PGIM S&P 500 Buffer 12 ETF - November alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to NOVP.
Explore NOVP Diversifiers