FT Cboe Vest U.S. Equity Buffer ETF - November (FNOV) Performance
FNOV total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +10.0% since Dec 31, 2025
- 1 year
- +13.2% total return
- 5 years
- +9.4% a year
- Since first price
- +10.3% a year since 2019
FNOV trailing returns vs SPY, QQQ, AGG
| Period | FNOV total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +0.2% | +0.2% | −1.0% | −5.0% | +0.9% |
| 3 months | +3.4% | +3.4% | +3.2% | +1.9% | −0.4% |
| 6 months | +6.8% | +6.8% | +7.8% | +8.4% | −1.5% |
| YTD | +10.0% | +10.0% | +12.3% | +15.1% | −1.0% |
| 1 year | +13.2% | +13.2% | +14.4% | +15.9% | −1.1% |
| 3 years | +57.6%+16.4%/yr | +57.6% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +56.8%+9.4%/yr | +56.8% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionNov 18, 2019 | +96.8%+10.3%/yr | +96.8% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: FNOV vs SPY
From Nov 18, 2019: FNOV grew to $19,684, SPY to $26,919.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
FNOV returns by calendar year
5 of 6 full years positive. Best 2023 (+19.7%), worst 2022 (−8.9%). 2026 is year to date.
FNOV annual returns table
| Year | FNOV | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +10.0% | −5.7% | +12.3% | +15.1% | −1.0% |
| 2025 | +14.7% | −13.1% | +17.7% | +20.8% | +7.2% |
| 2024 | +12.5% | −3.5% | +24.9% | +25.6% | +1.3% |
| 2023 | +19.7% | −9.3% | +26.2% | +54.9% | +5.7% |
| 2022 | −8.9% | −15.9% | −18.2% | −32.6% | −13.0% |
| 2021 | +10.8% | −2.7% | +28.7% | +27.4% | −1.8% |
| 2020 | +12.3% | −23.9% | +18.3% | +48.6% | +7.5% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
FNOV largest drawdowns
Now 0.8% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Dec 16, 2019 | −24.4% | Mar 23, 2020 | Aug 17, 2020 | 3 months | 8 months |
| Jan 4, 2022 | −15.9% | Oct 12, 2022 | Jun 12, 2023 | 9 months | 1.4 years |
| Feb 19, 2025 | −13.1% | Apr 8, 2025 | Jun 24, 2025 | 48 days | 4 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
FNOV risk statistics
| Statistic | 3 years | 5 years | Since 2019 |
|---|---|---|---|
| Annualized return | +15.7% | +9.6% | +10.3% |
| Volatility (annualized) | 8.1% | 10.9% | 11.2% |
| Sharpe ratio | 1.31 | 0.57 | 0.69 |
| Sortino ratio | 2.83 | 0.90 | 1.11 |
| Best month | +8.6% | +8.6% | +8.6% |
| Worst month | −3.6% | −7.3% | −7.7% |
| Best 12 months | +24.9% | +24.9% | +34.0% |
| Worst 12 months | +4.3% | −13.5% | −13.5% |
| Positive months | 78% | 68% | 70% |
| Beta vs S&P 500 | 0.62 | 0.67 | — |
| Correlation with S&P 500 | 0.94 | 0.96 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
FNOV rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 72 | −13.5% | +12.7% | +34.0% | 83% |
| 3-year (a year) | 48 | +4.3% | +8.9% | +17.1% | 100% |
| 5-year (a year) | 24 | +7.9% | +9.5% | +11.3% | 100% |
Every holding period starting at a month-end since 2019. Returns for 3 years and longer are annualized.
FNOV performance overview
FT Cboe Vest U.S. Equity Buffer ETF - November (FNOV) returned +13.2% over the past year and +9.4% a year over five years, with distributions reinvested. Since its first recorded price in 2019 it has returned +10.3% a year, turning $10,000 into about $19,684. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −24.4%, from Dec 16, 2019 to Mar 23, 2020, and it took 5 months to get back to the old high. FNOV finished 5 of its 6 full calendar years with a gain; the best year was 2023 (+19.7%) and the worst 2022 (−8.9%). Volatility has been 11.2% a year.
Related: FNOV chart. See the FNOV overview for the latest quote and fund facts.
FNOV performance FAQ
What is the FNOV return over the past year?
FNOV returned +13.2% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 13.2%.
What is the average annual return of FNOV?
FNOV has returned +9.4% a year over 5 years, +10.3% a year since November 18, 2019 (total return, distributions reinvested).
How much would $10,000 invested in FNOV be worth?
$10,000 invested in FNOV at its first recorded close on November 18, 2019 would be worth about $19,684 on October 23, 2026 with distributions reinvested.
What was the worst year for FNOV?
The worst calendar year was 2022, with a total return of −8.9%. The best was 2023 at +19.7%.
What is the biggest drawdown of FNOV?
The largest peak-to-trough decline was −24.4% between December 16, 2019 and March 23, 2020. It recovered to the old high on August 17, 2020, 5 months after the bottom.
How volatile is FNOV?
Over the past 3 years FNOV had an annualized volatility of 8.1% and a Sharpe ratio of 1.31 (excess return over 1–3 month T-bills per unit of risk).