TrueShares Structured Outcome (November) ETF (NOVZ) belongs to the Options Trading category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with NOVZ. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to NOVZ
NOVZ charges 0.79% annually. There are 60 ETFs in the Options Trading category with lower expense ratios, going as low as 0.14%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Calamos Tax-Aware Collateral ETF | 0.14% | 1.21B | Apr 2026 | NOVZ vs CBOX | |
| Parametric Hedged Equity ETF | 0.29% | 139.40M | Oct 2023 | NOVZ vs PHEQ | |
| State Street Real Estate Select Sector SPDR Premiu... | 0.35% | 2.87M | Jul 2025 | NOVZ vs XLRI | |
| Simplify Hedged Equity ETF | 0.43% | 296.16M | Nov 2021 | NOVZ vs HEQT | |
| Castellan Targeted Income ETF | 0.45% | — | Jun 2025 | NOVZ vs CTIF |
Best Risk-Adjusted Alternatives to NOVZ
NOVZ has a PortfoliosLab risk / return rank of 61. There are 109 ETFs in the Options Trading category with higher risk-adjusted ranks, going as high as 99.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Innovator Premium Income 15 Buffer ETF - April | 99 | — | Mar 2024 | NOVZ vs LAPR | |
| Innovator Premium Income 30 Barrier ETF - April | 98 | 32.22M | Mar 2023 | NOVZ vs APRJ | |
| AllianzIM U.S. Large Cap Buffer20 Apr ETF | 98 | 199.47M | May 2020 | NOVZ vs APRW | |
| FT Vest U.S. Equity Buffer & Premium Income ETF - ... | 98 | — | Mar 2024 | NOVZ vs XIMR | |
| FT Cboe Vest U.S. Equity Enhance & Moderate Buffer... | 98 | 153.67M | Mar 2023 | NOVZ vs XMAR |
Top Performing NOVZ Alternatives (YTD)
NOVZ is at 7.13% YTD. There are 55 ETFs in the Options Trading category with higher YTD returns, going as high as 87.43%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| YieldMax AMD Option Income Strategy ETF | 87.43% | 382.78M | Sep 2023 | NOVZ vs AMDY | |
| Defiance Oil Enhanced Options Income ETF | 51.25% | 64.41M | May 2024 | NOVZ vs USOY | |
| Simplify Piper Sandler US Small-Cap PLUS Income ET... | 15.04% | 6.72M | Apr 2025 | NOVZ vs LITL | |
| Horizon Dividend Income ETF | 14.80% | — | Jun 2025 | NOVZ vs DIVN | |
| Defiance R2000 Weekly Distribution ETF | 13.35% | 95.57M | Oct 2023 | NOVZ vs IWMY |
Lowest Volatility Alternatives to NOVZ
NOVZ has 9.87% 1-year volatility. There are 117 ETFs in the Options Trading category with lower 1-year volatility, going as low as 1.30%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Innovator Premium Income 15 Buffer ETF - April | 1.30% | — | Mar 2024 | NOVZ vs LAPR | |
| Alpha Architect Tail Risk ETF | 1.57% | 709.87M | Aug 2013 | NOVZ vs CAOS | |
| Innovator Premium Income 30 Barrier ETF - April | 1.57% | 32.22M | Mar 2023 | NOVZ vs APRJ | |
| Innovator Premium Income 30 Barrier ETF - July | 1.68% | 13.68M | Jun 2023 | NOVZ vs JULJ | |
| FT Vest U.S. Equity Buffer & Premium Income ETF - ... | 2.06% | — | Mar 2024 | NOVZ vs XIMR |
Lowest Drawdown Alternatives to NOVZ
NOVZ has a 1-year max drawdown of -6.72%. There are 107 ETFs in the Options Trading category with shallower 1-year drawdowns, going as shallow as -0.36%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Innovator Premium Income 15 Buffer ETF - April | -0.36% | — | Mar 2024 | NOVZ vs LAPR | |
| Innovator Premium Income 30 Barrier ETF - April | -0.40% | 32.22M | Mar 2023 | NOVZ vs APRJ | |
| Innovator Premium Income 30 Barrier ETF - July | -0.61% | 13.68M | Jun 2023 | NOVZ vs JULJ | |
| Alpha Architect Tail Risk ETF | -0.76% | 709.87M | Aug 2013 | NOVZ vs CAOS | |
| AllianzIM U.S. Large Cap Buffer20 Apr ETF | -0.89% | 199.47M | May 2020 | NOVZ vs APRW |
Other ETFs from TrueShares
The 10 most viewed TrueShares ETFs shown here include DIVZ, LRNZ, AUGZ and span 5 categories. AUM among these funds goes as high as $298M.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Opal Dividend Income ETF | Large Cap Value Equities | 46 | 7.08% | 298.03M | Jan 2021 | NOVZ vs DIVZ | |
| TrueShares Technology, AI & Deep Learning ETF | Artificial Intelligence, Large Cap Growth Equities | — | — | 38.43M | Feb 2020 | NOVZ vs LRNZ | |
| TrueShares Structured Outcome (August) ETF | Defined Outcome | 53 | 7.11% | 42.74M | Jul 2020 | NOVZ vs AUGZ | |
| TrueShares Structured Outcome (September) ETF | Options Trading | 55 | 7.08% | 127.95M | Aug 2020 | NOVZ vs SEPZ | |
| TrueShares Structured Outcome (March) ETF | Defined Outcome | 55 | 7.08% | 32.62M | Feb 2021 | NOVZ vs MARZ | |
| TrueShares Structured Outcome (October) ETF | Defined Outcome | 55 | 6.95% | 42.84M | Sep 2020 | NOVZ vs OCTZ | |
| TrueShares Structured Outcome (December) ETF | Defined Outcome | 56 | 7.30% | 36.24M | Nov 2020 | NOVZ vs DECZ | |
| TrueShares Structured Outcome (April) ETF | Defined Outcome | 49 | 6.52% | 32.65M | Mar 2021 | NOVZ vs APRZ | |
| Trueshares Structured Outcome (July) ETF | Options Trading | 54 | 7.68% | 36.25M | Jun 2020 | NOVZ vs JULZ | |
| TrueShares Structured Outcome (January) ETF | Defined Outcome | 58 | 7.35% | 40.85M | Dec 2020 | NOVZ vs JANZ |
Often Compared With NOVZ
Investors most often compare NOVZ with BNO, APRP, JANP. These 20 comparison targets span 5 categories, based on PortfoliosLab usage data.
Compare NOVZ with Any Fund or Stock
Compare NOVZ with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair NOVZ with funds that move differently
TrueShares Structured Outcome (November) ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to NOVZ.
Explore NOVZ Diversifiers