PNOV vs. SPY
Compare and contrast key facts about Innovator U.S. Equity Power Buffer ETF - November (PNOV) and SPDR S&P 500 ETF (SPY).
PNOV and SPY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PNOV is a passively managed fund by Innovator that tracks the performance of the Cboe S&P 500 15% Buffer Protect November Series Index. It was launched on Nov 1, 2019. 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. Both PNOV and SPY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PNOV or SPY.
Correlation
The correlation between PNOV and SPY is 0.89, 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
PNOV vs. SPY - Performance Comparison
Key characteristics
PNOV:
2.59
SPY:
1.88
PNOV:
3.68
SPY:
2.53
PNOV:
1.67
SPY:
1.35
PNOV:
5.64
SPY:
2.83
PNOV:
26.94
SPY:
11.74
PNOV:
0.38%
SPY:
2.02%
PNOV:
4.01%
SPY:
12.64%
PNOV:
-18.51%
SPY:
-55.19%
PNOV:
-0.15%
SPY:
-0.42%
Returns By Period
In the year-to-date period, PNOV achieves a 2.15% return, which is significantly lower than SPY's 4.15% return.
PNOV
2.15%
0.76%
5.59%
10.42%
7.86%
N/A
SPY
4.15%
1.22%
10.44%
24.34%
14.62%
13.18%
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PNOV vs. SPY - Expense Ratio Comparison
PNOV has a 0.79% expense ratio, which is higher than SPY's 0.09% expense ratio.
Risk-Adjusted Performance
PNOV vs. SPY — Risk-Adjusted Performance Rank
PNOV
SPY
PNOV vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Power Buffer ETF - November (PNOV) 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
PNOV vs. SPY - Dividend Comparison
PNOV 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PNOV Innovator U.S. Equity Power 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
PNOV vs. SPY - Drawdown Comparison
The maximum PNOV drawdown since its inception was -18.51%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for PNOV and SPY. For additional features, visit the drawdowns tool.
Volatility
PNOV vs. SPY - Volatility Comparison
The current volatility for Innovator U.S. Equity Power Buffer ETF - November (PNOV) is 1.27%, while SPDR S&P 500 ETF (SPY) has a volatility of 2.93%. This indicates that PNOV 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.