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Data as of Oct 28, 2026.

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NOVZ vs VOO: Differences, Returns & Fees

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Over the year to Oct 28, 2026, NOVZ returned +8.5% to VOO's +13.7%, and VOO charges 0.03% to NOVZ's 0.79%.

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Net assets: $37m on Oct 27, 2026 for TrueShares Structured Outcome (November) ETF, and $1.0tn on Sep 30, 2026 for Vanguard S&P 500 ETF.

NOVZ on its own →VOO on its own →
At a glance
+8.5%
NOVZ total return, 1 year
+13.7%
VOO total return, 1 year
0.79%
NOVZ expense ratio
0.03%
VOO expense ratio

Pair scorecard

VOO costs 0.76 points a year less; their one-year returns differ by 5.2 points.

NOVZ vs VOO: Differences, Returns & Fees
MeasureNOVZVOO
Return
Total return, 1 year+8.5%+13.7%
Drawdown
Index fall to the buffer11.1%
Fund price fall to the buffer4.5%
Benchmark
What it tracksSPXS&P 500 Index
The outcome period
Buffer left, in index points10.0% of 10.0%
Days left in the period4
Cost and size
Expense ratio0.79%0.03%
Net assets, NOVZ as of Oct 27, 2026 and VOO as of Sep 30, 2026$37m$1.0tn
Holdings
Holdings in commonnot published
In the S&P 500, by weight100%
Top ten holdings, share of the fund39.1%

Method

Side by side

NOVZ TrueShares Structured Outcome (November) ETF VOO Vanguard S&P 500 ETF
Where it sits Buffer ETF Stock ETF
Issuer TrueShares Vanguard
What it is Defined outcome, 10% on SPX Tracks the S&P 500
Total return, 1 year +8.5% +13.7%
Its benchmark over the same days +12.4% (SPX) +13.7% (IVV)
Gap to its benchmark −3.9 pts vs SPX 0.0 pts vs IVV
Expense ratio 0.79% 0.03%
Holdings not read by ETFIQ 507
Net assets, NOVZ as of Oct 27, 2026 and VOO as of Sep 30, 2026 $37m $1.0tn

NOVZ and VOO on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

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About each fund
NOVZ

4 days remained on Oct 26, 2026.

This fund has no cap. It takes a share of any further rise in SPX. The fund's price can fall 4.5% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPX can fall 11.1% from today's level to the point where the buffer begins. Protection left, in index points: 10.0% of the 10.0% buffer still sits below today's SPX level. On Oct 30, 2026 the period ends and new terms are set.

VOO

VOO tracks the S&P 500. Over the year to Oct 28, 2026 it returned +13.7% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.03% a year. By its holdings published by its issuer as of Sep 30, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 507 positions, with the top ten at 39.1%.

Questions people ask

Are NOVZ and VOO in the same category?
NOVZ is a buffer ETF and VOO is a stock ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
Which returned more over the last year, NOVZ or VOO?
In the year to Oct 28, 2026, with distributions reinvested, NOVZ returned +8.5% and VOO +13.7%.
Which is cheaper, NOVZ or VOO?
VOO is cheaper, by 0.76 percentage points a year. That is about $76 on $10,000 held for a year. Fees come from each fund's prospectus.
Other comparisons
NOVZ vs SPYNOVZ vs SPYMIVV vs NOVZDECZ vs VOOJULZ vs VOOJANZ vs VOOAPRZ vs VOOFEBZ vs VOO
Where to next
NOVZ on its own →VOO on its own →Hold both: look the portfolio through →Rankings →NOVZ dividend history →VOO dividend history →VOO holdings →Standards and sources →
Sources and dates
NOVZ filings on SEC EDGAR ↗
TrueShares website ↗
VOO filings on SEC EDGAR ↗
VOO prospectus with the expense ratio (SEC) ↗
Vanguard page for VOO ↗

Links are sources, not endorsements. A comparison is not a recommendation.

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ETFIQ, NOVZ against VOO, data as of Oct 28, 2026. https://etfiq.com/compare/any/novz-vs-voo

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