GNOV vs. SPY
Compare and contrast key facts about FT Cboe Vest U.S. Equity Moderate Buffer ETF - November (GNOV) and SPDR S&P 500 ETF (SPY).
GNOV and SPY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GNOV is an actively managed fund by FT Vest. It was launched on Nov 16, 2023. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: GNOV or SPY.
Correlation
The correlation between GNOV and SPY is 0.86, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
GNOV vs. SPY - Performance Comparison
Key characteristics
GNOV:
2.38
SPY:
1.97
GNOV:
3.32
SPY:
2.64
GNOV:
1.55
SPY:
1.36
GNOV:
4.22
SPY:
2.97
GNOV:
20.27
SPY:
12.34
GNOV:
0.54%
SPY:
2.03%
GNOV:
4.58%
SPY:
12.68%
GNOV:
-2.59%
SPY:
-55.19%
GNOV:
-0.01%
SPY:
-0.01%
Returns By Period
In the year-to-date period, GNOV achieves a 2.12% return, which is significantly lower than SPY's 4.03% return.
GNOV
2.12%
0.96%
4.55%
10.40%
N/A
N/A
SPY
4.03%
2.03%
9.65%
23.63%
14.28%
13.18%
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GNOV vs. SPY - Expense Ratio Comparison
GNOV has a 0.85% expense ratio, which is higher than SPY's 0.09% expense ratio.
Risk-Adjusted Performance
GNOV vs. SPY — Risk-Adjusted Performance Rank
GNOV
SPY
GNOV vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest U.S. Equity Moderate Buffer ETF - November (GNOV) and SPDR S&P 500 ETF (SPY). 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.
Dividends
GNOV vs. SPY - Dividend Comparison
GNOV has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.16%.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GNOV FT Cboe Vest U.S. Equity Moderate Buffer ETF - November | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY SPDR S&P 500 ETF | 1.16% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% |
Drawdowns
GNOV vs. SPY - Drawdown Comparison
The maximum GNOV drawdown since its inception was -2.59%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for GNOV and SPY. For additional features, visit the drawdowns tool.
Volatility
GNOV vs. SPY - Volatility Comparison
The current volatility for FT Cboe Vest U.S. Equity Moderate Buffer ETF - November (GNOV) is 1.73%, while SPDR S&P 500 ETF (SPY) has a volatility of 3.15%. This indicates that GNOV experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.