XNOV vs. ENFR
XNOV (FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - November) and ENFR (Alerian Energy Infrastructure ETF) are both exchange-traded funds - XNOV is a Options Trading fund actively managed by FT Vest, while ENFR is a Energy Equities fund tracking the Alerian Midstream Energy Select Index. XNOV is actively managed, while ENFR is passively managed. Over the past year, XNOV returned 13.00% vs 24.84% for ENFR. At a 0.22 correlation, their price movements are largely independent. XNOV charges 0.85%/yr vs 0.35%/yr for ENFR.
Performance
XNOV vs. ENFR - Performance Comparison
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Returns By Period
In the year-to-date period, XNOV achieves a 4.30% return, which is significantly lower than ENFR's 23.07% return.
XNOV
- 1D
- -0.03%
- 1M
- 0.50%
- YTD
- 4.30%
- 6M
- 4.21%
- 1Y
- 13.00%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ENFR
- 1D
- 1.01%
- 1M
- -5.94%
- YTD
- 23.07%
- 6M
- 24.76%
- 1Y
- 24.84%
- 3Y*
- 28.26%
- 5Y*
- 19.69%
- 10Y*
- 11.81%
XNOV vs. ENFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
XNOV FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - November | 4.30% | 11.32% | 8.26% | 2.26% |
ENFR Alerian Energy Infrastructure ETF | 23.07% | 5.88% | 42.17% | 2.90% |
Correlation
The correlation between XNOV and ENFR is -0.10, 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 | -0.10 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2023 | 0.22 |
The correlation between XNOV and ENFR shifts across timeframes, from -0.10 (1 year) to 0.22 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XNOV vs. ENFR — Risk / Return Rank
XNOV
ENFR
XNOV vs. ENFR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - November (XNOV) and Alerian Energy Infrastructure ETF (ENFR). 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.
| XNOV | ENFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.33 | ||
| Sortino ratioReturn per unit of downside risk | +2.23 | ||
| Omega ratioGain probability vs. loss probability | 1.71 | 1.29 | +0.42 |
| Calmar ratioReturn relative to maximum drawdown | 3.63 | 2.89 | +0.74 |
| Martin ratioReturn relative to average drawdown | 21.01 | 7.40 | +13.61 |
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Drawdowns
XNOV vs. ENFR - Drawdown Comparison
The maximum XNOV drawdown since its inception was -10.00%, smaller than the maximum ENFR drawdown of -68.28%. Use the drawdown chart below to compare losses from any high point for XNOV and ENFR.
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Drawdown Indicators
| XNOV | ENFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.00% | -68.28% | +58.28% |
Max Drawdown (1Y)Largest decline over 1 year | -3.60% | -8.64% | +5.04% |
Max Drawdown (3Y)Largest decline over 3 years | — | -15.58% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -20.29% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -62.64% | — |
Current DrawdownCurrent decline from peak | -0.16% | -6.12% | +5.96% |
Average DrawdownAverage peak-to-trough decline | -0.51% | -15.94% | +15.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.62% | 3.36% | -2.74% |
Volatility
XNOV vs. ENFR - Volatility Comparison
The current volatility for FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - November (XNOV) is 1.00%, while Alerian Energy Infrastructure ETF (ENFR) has a volatility of 5.42%. This indicates that XNOV experiences smaller price fluctuations and is considered to be less risky than ENFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XNOV | ENFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.00% | 5.42% | -4.42% |
Volatility (6M)Calculated over the trailing 6-month period | 3.89% | 11.57% | -7.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.33% | 14.82% | -10.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.89% | 19.24% | -12.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.89% | 24.68% | -17.79% |
XNOV vs. ENFR - Expense Ratio Comparison
XNOV has a 0.85% expense ratio, which is higher than ENFR's 0.35% expense ratio.
Dividends
XNOV vs. ENFR - Dividend Comparison
XNOV has not paid dividends to shareholders, while ENFR's dividend yield for the trailing twelve months is around 4.08%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ENFR Alerian Energy Infrastructure ETF | 4.08% | 4.77% | 4.41% | 5.48% | 5.23% | 7.86% | 7.57% | 5.81% | 3.98% | 2.98% | 3.31% | 3.34% |
XNOV FT Cboe Vest U.S. Equity Enhance & 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% |
Frequently Asked Questions
XNOV and ENFR have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ENFR has higher volatility (5.42%) compared to XNOV (1.00%). In terms of maximum drawdown, XNOV dropped -10.00% vs ENFR's -68.28%.
On 1-year performance, ENFR leads with 24.84% vs 13.00% for XNOV. On fees, ENFR is cheaper at 0.35% per year. On volatility, XNOV has been the lower-risk option at 1.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ENFR has performed better with a 24.84% return vs 13.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ENFR is cheaper with a 0.35% expense ratio, compared with 0.85% for XNOV.
ENFR has the higher dividend yield at 4.08%, compared with 0.00% for XNOV.
XNOV is categorized as Options Trading, while ENFR is Energy Equities. They also come from different issuers: FT Vest and SS&C. Their fees differ too: 0.85% for XNOV and 0.35% for ENFR.
XNOV currently has the higher Sharpe Ratio (3.02 vs 1.69), 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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