SNOV vs. KFEB

Last updated Jun 4, 2026

SNOV (FT Vest U.S. Small Cap Moderate Buffer ETF - November) and KFEB (Innovator U.S. Small Cap Power Buffer ETF - February) are both Defined Outcome funds. Both are actively managed. Over the past year, SNOV returned 17.37% vs 24.53% for KFEB. With a 0.96 correlation, they move nearly in lockstep. SNOV charges 0.90%/yr vs 0.79%/yr for KFEB.

Performance

SNOV vs. KFEB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest U.S. Small Cap Moderate Buffer ETF - November (SNOV) and Innovator U.S. Small Cap Power Buffer ETF - February (KFEB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SNOV achieves a 7.65% return, which is significantly lower than KFEB's 11.46% return.

SNOV

• 1D: -0.30%
• 1M: 1.60%
• YTD: 7.65%
• 6M: 7.78%
• 1Y: 17.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

KFEB

• 1D: -0.56%
• 1M: 1.73%
• YTD: 11.46%
• 6M: 10.76%
• 1Y: 24.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SNOV vs. KFEB - Yearly Performance Comparison

	2026 (YTD)	2025
SNOV FT Vest U.S. Small Cap Moderate Buffer ETF - November	7.65%	5.89%
KFEB Innovator U.S. Small Cap Power Buffer ETF - February	11.46%	8.76%

Correlation

The correlation between SNOV and KFEB is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (All Time) Calculated using the full available price history since Feb 4, 2025	0.96

The correlation between SNOV and KFEB has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

Return for Risk

SNOV vs. KFEB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SNOV

SNOV Risk / Return Rank: 49
SNOV Sharpe Ratio Rank: 48
SNOV Sortino Ratio Rank: 48
SNOV Omega Ratio Rank: 48
SNOV Calmar Ratio Rank: 46
SNOV Martin Ratio Rank: 56

KFEB

KFEB Risk / Return Rank: 74
KFEB Sharpe Ratio Rank: 70
KFEB Sortino Ratio Rank: 73
KFEB Omega Ratio Rank: 65
KFEB Calmar Ratio Rank: 82
KFEB Martin Ratio Rank: 80

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SNOV vs. KFEB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Small Cap Moderate Buffer ETF - November (SNOV) and Innovator U.S. Small Cap Power Buffer ETF - February (KFEB). 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.

	SNOV	KFEB	Difference
Sharpe ratio: Return per unit of total volatility	1.60	2.25	-0.64
Sortino ratio: Return per unit of downside risk	2.34	3.26	-0.92
Omega ratio: Gain probability vs. loss probability	1.29	1.39	-0.10
Calmar ratio: Return relative to maximum drawdown	2.20	4.25	-2.04
Martin ratio: Return relative to average drawdown	9.48	15.46	-5.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SNOV vs. KFEB - Sharpe Ratio Comparison

The current SNOV Sharpe Ratio is 1.60, which is comparable to the KFEB Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of SNOV and KFEB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SNOV	KFEB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.60	2.25	-0.64
Sharpe Ratio (All Time) Calculated using the full available price history	1.07	1.18	-0.11

Drawdowns

SNOV vs. KFEB - Drawdown Comparison

The maximum SNOV drawdown since its inception was -15.36%, which is greater than KFEB's maximum drawdown of -14.16%. Use the drawdown chart below to compare losses from any high point for SNOV and KFEB.

Drawdown Indicators

	SNOV	KFEB	Difference
Max Drawdown Largest peak-to-trough decline	-15.36%	-14.16%	-1.20%
Max Drawdown (1Y) Largest decline over 1 year	-7.91%	-5.80%	-2.11%
Current Drawdown Current decline from peak	-0.34%	-0.57%	+0.23%
Average Drawdown Average peak-to-trough decline	-2.03%	-2.33%	+0.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.84%	1.59%	+0.25%

Volatility

SNOV vs. KFEB - Volatility Comparison

The current volatility for FT Vest U.S. Small Cap Moderate Buffer ETF - November (SNOV) is 1.69%, while Innovator U.S. Small Cap Power Buffer ETF - February (KFEB) has a volatility of 2.41%. This indicates that SNOV experiences smaller price fluctuations and is considered to be less risky than KFEB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SNOV	KFEB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.69%	2.41%	-0.72%
Volatility (6M) Calculated over the trailing 6-month period	6.08%	7.71%	-1.63%
Volatility (1Y) Calculated over the trailing 1-year period	10.90%	10.99%	-0.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.14%	13.27%	-2.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.14%	13.27%	-2.13%

SNOV vs. KFEB - Expense Ratio Comparison

SNOV has a 0.90% expense ratio, which is higher than KFEB's 0.79% expense ratio.

Dividends

SNOV vs. KFEB - Dividend Comparison

Neither SNOV nor KFEB has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SNOV and KFEB in my portfolio?

With a correlation of 0.95, SNOV and KFEB move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SNOV or KFEB?

KFEB has higher volatility (2.41%) compared to SNOV (1.69%). In terms of maximum drawdown, SNOV dropped -15.36% vs KFEB's -14.16%.

Which ETF is better, SNOV or KFEB?

On 1-year performance, KFEB leads with 24.53% vs 17.37% for SNOV. On fees, KFEB is cheaper at 0.79% per year. On volatility, SNOV has been the lower-risk option at 1.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SNOV or KFEB?

Over the 1-year period, KFEB has performed better with a 24.53% return vs 17.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SNOV or KFEB?

KFEB is cheaper with a 0.79% expense ratio, compared with 0.90% for SNOV.

Which ETF pays a higher dividend yield, SNOV or KFEB?

SNOV and KFEB have nearly identical dividend yields, around 0.00%.

What is the main difference between SNOV and KFEB?

They also come from different issuers: First Trust and Innovator. Their fees differ too: 0.90% for SNOV and 0.79% for KFEB.

Which has better risk-adjusted returns?

KFEB currently has the higher Sharpe Ratio (2.25 vs 1.60), 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.