XNOV vs. IBIC
XNOV (FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - November) and IBIC (iShares iBonds Oct 2026 Term TIPS ETF) are both exchange-traded funds - XNOV 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. XNOV is actively managed, while IBIC is passively managed. Over the past year, XNOV returned 13.05% vs 4.60% for IBIC. At a correlation of -0.08, they often move in opposite directions. XNOV charges 0.85%/yr vs 0.10%/yr for IBIC.
Performance
XNOV vs. IBIC - Performance Comparison
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Returns By Period
In the year-to-date period, XNOV achieves a 3.81% return, which is significantly higher than IBIC's 2.37% return.
XNOV
- 1D
- -0.46%
- 1M
- 0.53%
- YTD
- 3.81%
- 6M
- 4.28%
- 1Y
- 13.05%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBIC
- 1D
- 0.03%
- 1M
- 0.38%
- YTD
- 2.37%
- 6M
- 2.47%
- 1Y
- 4.60%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XNOV vs. IBIC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
XNOV FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - November | 3.81% | 11.32% | 8.26% | 2.14% |
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 2.37% | 4.96% | 5.25% | 1.27% |
Correlation
The correlation between XNOV and IBIC is -0.23, 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 | -0.23 |
Correlation (All Time) Calculated using the full available price history since Nov 21, 2023 | -0.08 |
The correlation between XNOV and IBIC shifts across timeframes, from -0.23 (1 year) to -0.08 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XNOV vs. IBIC — Risk / Return Rank
XNOV
IBIC
XNOV vs. IBIC - 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 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.
| XNOV | IBIC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.15 | ||
| Sortino ratioReturn per unit of downside risk | -4.83 | ||
| Omega ratioGain probability vs. loss probability | 1.70 | 2.28 | -0.57 |
| Calmar ratioReturn relative to maximum drawdown | 3.64 | 17.50 | -13.86 |
| Martin ratioReturn relative to average drawdown | 21.18 | 67.61 | -46.43 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XNOV | IBIC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.99 | 5.14 | -2.15 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.47 | 3.48 | -2.01 |
Drawdowns
XNOV vs. IBIC - Drawdown Comparison
The maximum XNOV drawdown since its inception was -10.00%, which is greater than IBIC's maximum drawdown of -0.90%. Use the drawdown chart below to compare losses from any high point for XNOV and IBIC.
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Drawdown Indicators
| XNOV | IBIC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.00% | -0.90% | -9.10% |
Max Drawdown (1Y)Largest decline over 1 year | -3.60% | -0.26% | -3.34% |
Current DrawdownCurrent decline from peak | -0.46% | -0.13% | -0.33% |
Average DrawdownAverage peak-to-trough decline | -0.51% | -0.10% | -0.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.62% | 0.07% | +0.55% |
Volatility
XNOV vs. IBIC - Volatility Comparison
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - November (XNOV) has a higher volatility of 0.69% compared to iShares iBonds Oct 2026 Term TIPS ETF (IBIC) at 0.31%. This indicates that XNOV'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
| XNOV | IBIC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.69% | 0.31% | +0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 3.86% | 0.67% | +3.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.40% | 0.90% | +3.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.93% | 1.57% | +5.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.93% | 1.57% | +5.36% |
XNOV vs. IBIC - Expense Ratio Comparison
XNOV has a 0.85% expense ratio, which is higher than IBIC's 0.10% expense ratio.
Dividends
XNOV vs. IBIC - Dividend Comparison
XNOV has not paid dividends to shareholders, while IBIC's dividend yield for the trailing twelve months is around 3.59%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 3.59% | 4.43% | 4.65% | 0.83% |
XNOV FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - November | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XNOV and IBIC have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XNOV has higher volatility (0.69%) compared to IBIC (0.31%). In terms of maximum drawdown, XNOV dropped -10.00% vs IBIC's -0.90%.
On 1-year performance, XNOV leads with 13.05% vs 4.60% for IBIC. On fees, IBIC is cheaper at 0.10% per year. On volatility, IBIC has been the lower-risk option at 0.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, XNOV has performed better with a 13.05% return vs 4.60%. 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 XNOV.
IBIC has the higher dividend yield at 3.59%, compared with 0.00% for XNOV.
XNOV 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 XNOV and 0.10% for IBIC.
IBIC currently has the higher Sharpe Ratio (5.14 vs 2.99), 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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