Which is cheaper, NOVP or SPY?

NOVP charges 0.50% a year and SPY charges 0.09%, so SPY is cheaper. Fees come from each fund's prospectus.

Are NOVP and SPY the same kind of fund?

No. NOVP is a buffer ETF and SPY is an index ETF, so they are built for different jobs. The table compares what both publish: return, cost and what each actually holds.

Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.

ETFIQetfiq.com · independent ETF data

NOVP vs SPY: how they differ

NOVP and SPY are measured over different days, and SPY charges 0.09% against 0.50%.

PGIM S&P 500 Buffer 12 ETF - November and SPDR S&P 500 ETF Trust.

NOVP and SPY on the fields both publish, as of Sep 12, 2026. Source: ETFIQ.
	NOVP PGIM S&P 500 Buffer 12 ETF - November	SPY SPDR S&P 500 ETF Trust
Where it sits	Buffer ETF	Core index fund
Issuer	PGIM	State Street
What it is	Defined outcome, 12% on SPY	S&P 500, book from IVV
Total return, 1 year	not published	+17.5%
S&P 500 over the same days	not published	+17.5%
Gap to the S&P 500	not available	0.0 pts
Expense ratio	0.50%	0.09%
Holdings	not filed	504

NOVP in plain words

From its price on Sep 12, 2026, the fund can gain about 3.7% more before it reaches its cap. The fund's price can fall 10.1% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 10.8% from today's level to the point where the buffer begins. Protection left, in index points: 12.0% of the 12.0% buffer still sits below today's SPY level. 50 days remained on Sep 12, 2026. On Oct 31, 2026 the period ends and a new cap is set.

SPY in plain words

SPY is an index equity fund tracking the S&P 500. Over the year to Sep 11, 2026 it returned +17.5% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.09% a year. By its holdings filed for Jun 30, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 504 positions, with the top ten at 36.4%.

Questions people ask

Which is cheaper, NOVP or SPY?: NOVP charges 0.50% a year and SPY charges 0.09%, so SPY is cheaper. Fees come from each fund's prospectus.
Are NOVP and SPY the same kind of fund?: No. NOVP is a buffer ETF and SPY is an index ETF, so they are built for different jobs. The table compares what both publish: return, cost and what each actually holds.

Other comparisons

Where to next

Where these figures came from

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.

NOVP against SPY, ETFIQ, data as of Sep 12, 2026. Every figure is arithmetic on a named public source; the method is at etfiq.com/methodology. A comparison is not a recommendation.

Cite this page. ETFIQ, NOVP against SPY, data as of Sep 12, 2026. https://etfiq.com/compare/any/NOVP-SPY Free to use with attribution; the underlying files are at Open data.

A comparison is not a recommendation. Standards and sources