GNOV vs. IBIC
GNOV (FT Cboe Vest U.S. Equity Moderate Buffer ETF - November) and IBIC (iShares iBonds Oct 2026 Term TIPS ETF) are both exchange-traded funds - GNOV is a Options Trading fund actively managed by FT Vest, while IBIC is a Inflation-Protected Bonds fund tracking the ICE 2026 Maturity US Inflation-Linked Treasury Index. GNOV is actively managed, while IBIC is passively managed. Over the past year, GNOV returned 15.83% vs 4.42% for IBIC. At a correlation of -0.09, they often move in opposite directions. GNOV charges 0.85%/yr vs 0.10%/yr for IBIC.
Performance
GNOV vs. IBIC - Performance Comparison
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Returns By Period
In the year-to-date period, GNOV achieves a 4.56% return, which is significantly higher than IBIC's 2.43% return.
GNOV
- 1D
- -0.42%
- 1M
- 0.04%
- YTD
- 4.56%
- 6M
- 4.38%
- 1Y
- 15.83%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBIC
- 1D
- 0.04%
- 1M
- 0.12%
- YTD
- 2.43%
- 6M
- 2.57%
- 1Y
- 4.42%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GNOV vs. IBIC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
GNOV FT Cboe Vest U.S. Equity Moderate Buffer ETF - November | 4.56% | 13.55% | 10.35% | 3.19% |
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 2.43% | 4.96% | 5.25% | 1.46% |
Correlation
The correlation between GNOV and IBIC is -0.22, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.22 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2023 | -0.09 |
The correlation between GNOV and IBIC shifts across timeframes, from -0.22 (1 year) to -0.09 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GNOV vs. IBIC — Risk / Return Rank
GNOV
IBIC
GNOV vs. IBIC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest U.S. Equity Moderate Buffer ETF - November (GNOV) and iShares iBonds Oct 2026 Term TIPS ETF (IBIC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| GNOV | IBIC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.25 | ||
| Sortino ratioReturn per unit of downside risk | -4.85 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 2.22 | -0.66 |
| Calmar ratioReturn relative to maximum drawdown | 3.48 | 16.56 | -13.08 |
| Martin ratioReturn relative to average drawdown | 19.37 | 58.67 | -39.30 |
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Drawdowns
GNOV vs. IBIC - Drawdown Comparison
The maximum GNOV drawdown since its inception was -10.70%, which is greater than IBIC's maximum drawdown of -0.90%. Use the drawdown chart below to compare losses from any high point for GNOV and IBIC.
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Drawdown Indicators
| GNOV | IBIC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.70% | -0.90% | -9.80% |
Max Drawdown (1Y)Largest decline over 1 year | -4.56% | -0.27% | -4.29% |
Current DrawdownCurrent decline from peak | -0.62% | -0.08% | -0.54% |
Average DrawdownAverage peak-to-trough decline | -0.70% | -0.10% | -0.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 0.08% | +0.74% |
Volatility
GNOV vs. IBIC - Volatility Comparison
FT Cboe Vest U.S. Equity Moderate Buffer ETF - November (GNOV) has a higher volatility of 1.55% compared to iShares iBonds Oct 2026 Term TIPS ETF (IBIC) at 0.17%. This indicates that GNOV's price experiences larger fluctuations and is considered to be riskier than IBIC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GNOV | IBIC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.55% | 0.17% | +1.38% |
Volatility (6M)Calculated over the trailing 6-month period | 4.76% | 0.67% | +4.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.82% | 0.89% | +4.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.60% | 1.56% | +6.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.60% | 1.56% | +6.04% |
GNOV vs. IBIC - Expense Ratio Comparison
GNOV has a 0.85% expense ratio, which is higher than IBIC's 0.10% expense ratio.
Dividends
GNOV vs. IBIC - Dividend Comparison
GNOV has not paid dividends to shareholders, while IBIC's dividend yield for the trailing twelve months is around 3.58%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
GNOV FT Cboe Vest U.S. Equity Moderate Buffer ETF - November | 0.00% | 0.00% | 0.00% | 0.00% |
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 3.58% | 4.43% | 4.65% | 0.83% |
Frequently Asked Questions
GNOV and IBIC have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GNOV has higher volatility (1.55%) compared to IBIC (0.17%). In terms of maximum drawdown, GNOV dropped -10.70% vs IBIC's -0.90%.
On 1-year performance, GNOV leads with 15.83% vs 4.42% for IBIC. On fees, IBIC is cheaper at 0.10% per year. On volatility, IBIC has been the lower-risk option at 0.17%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, GNOV has performed better with a 15.83% return vs 4.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIC is cheaper with a 0.10% expense ratio, compared with 0.85% for GNOV.
IBIC has the higher dividend yield at 3.58%, compared with 0.00% for GNOV.
GNOV is categorized as Options Trading, while IBIC is Inflation-Protected Bonds. They also come from different issuers: FT Vest and iShares. Their fees differ too: 0.85% for GNOV and 0.10% for IBIC.
IBIC currently has the higher Sharpe Ratio (4.99 vs 2.74), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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