Innovator U.S. Equity Power Buffer ETF - November (PNOV) 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 PNOV. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to PNOV
PNOV charges 0.79% annually. There are 94 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 | PNOV vs OCTB | |
| Aptus April Buffer ETF | 0.25% | — | Oct 2025 | PNOV vs APRB | |
| Aptus January Buffer ETF | 0.25% | — | Oct 2025 | PNOV vs JANB | |
| Aptus July Buffer ETF | 0.25% | — | Oct 2025 | PNOV vs JULB | |
| Fidelity Dynamic Buffered Equity ETF | 0.48% | — | Apr 2024 | PNOV vs FBUF |
Best Risk-Adjusted Alternatives to PNOV
PNOV has a PortfoliosLab risk / return rank of 79. There are 177 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 | PNOV vs PMAP | |
| iShares Large Cap Max Buffer Mar ETF | 98 | — | Mar 2025 | PNOV vs MMAX | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 98 | 21.00M | Apr 2025 | PNOV vs CPSP | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | 98 | — | Apr 2025 | PNOV vs ZAPR | |
| Innovator U.S. Equity Accelerated 9 Buffer ETF - A... | 98 | 132.07M | Mar 2021 | PNOV vs XBAP |
Top Performing PNOV Alternatives (YTD)
PNOV is at 8.23% YTD. There are 104 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 | PNOV vs NVDO | |
| ProShares Nasdaq-100 Dynamic Daily Buffer ETF | 15.61% | 2.87M | Jun 2025 | PNOV vs QB | |
| Innovator U.S. Small Cap Power Buffer ETF - Februa... | 15.29% | — | Jan 2025 | PNOV vs KFEB | |
| Innovator Russell 2000 Power Buffer ETF - April | 14.35% | 214.27M | Mar 2020 | PNOV vs KAPR | |
| FT Vest U.S. Equity Uncapped Accelerator ETF - Jan... | 14.32% | — | Jan 2025 | PNOV vs UXJA |
Lowest Volatility Alternatives to PNOV
PNOV has 6.57% 1-year volatility. There are 166 ETFs in the Defined Outcome category with lower 1-year volatility, going as low as 1.18%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | 1.18% | — | Mar 2025 | PNOV vs PMAP | |
| FT Vest U.S. Equity Max Buffer ETF - April | 1.37% | — | Apr 2025 | PNOV vs APXM | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 1.40% | 21.00M | Apr 2025 | PNOV vs CPSP | |
| PGIM S&P 500 Max Buffer ETF - May | 1.42% | — | Apr 2025 | PNOV vs PMMY | |
| iShares Large Cap Max Buffer Mar ETF | 1.45% | — | Mar 2025 | PNOV vs MMAX |
Lowest Drawdown Alternatives to PNOV
PNOV has a 1-year max drawdown of -4.85%. There are 160 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 | PNOV vs PMAP | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | -0.37% | 21.00M | Apr 2025 | PNOV vs CPSP | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | -0.40% | — | Apr 2025 | PNOV vs ZAPR | |
| iShares Large Cap Max Buffer Mar ETF | -0.46% | — | Mar 2025 | PNOV vs MMAX | |
| Calamos S&P 500 Structured Alt Protection ETF - Ma... | -0.49% | 56.60M | May 2024 | PNOV vs CPSM |
Other ETFs from Innovator
The 10 most viewed Innovator ETFs shown here include BALT, BUFF, SFLR and span 5 categories. AUM among these funds goes as high as $3B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Innovator Defined Wealth Shield ETF | Defined Outcome | 96 | 3.34% | 2.72B | Jun 2021 | PNOV vs BALT | |
| Innovator Laddered Allocation Power Buffer ETF | Defined Outcome | 90 | 7.50% | 923.55M | Oct 2016 | PNOV vs BUFF | |
| Innovator Equity Managed Floor ETF | Options Trading | 50 | 5.77% | 2.11B | Nov 2022 | PNOV vs SFLR | |
| Innovator Deepwater Frontier Tech ETF | Technology Equities | 48 | 18.96% | 200.31M | Jul 2018 | PNOV vs LOUP | |
| Innovator U.S. Equity Accelerated Plus ETF | Leveraged Equities | 98 | 13.51% | 22.69M | Apr 2021 | PNOV vs XTAP | |
| Innovator U.S. Equity Power Buffer ETF - January | Defined Outcome | 84 | 7.00% | 1.44B | Jan 2019 | PNOV vs PJAN | |
| Innovator U.S. Equity Buffer ETF - April | Defined Outcome | 97 | 12.86% | 403.09M | Mar 2019 | PNOV vs BAPR | |
| Innovator U.S. Equity Power Buffer ETF October | Defined Outcome | 81 | 7.33% | 963.46M | Sep 2018 | PNOV vs POCT | |
| Innovator U.S. Equity Power Buffer ETF - July | Defined Outcome | 89 | 7.09% | 1.25B | Aug 2018 | PNOV vs PJUL | |
| Innovator Nasdaq-100 Managed Floor ETF | Nasdaq-100, Options Trading | 42 | 4.20% | 524.31M | Jan 2024 | PNOV vs QFLR |
Often Compared With PNOV
Investors most often compare PNOV with DNOV, BUFR, ZJAN. These 20 comparison targets span 4 categories, based on PortfoliosLab usage data.
Compare PNOV with Any Fund or Stock
Compare PNOV with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair PNOV with funds that move differently
Innovator U.S. Equity Power Buffer ETF - November alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to PNOV.
Explore PNOV Diversifiers