Data as of Nov 4, 2026.
FHDG vs NOVM: Cap, Buffer & Days Left
As of Nov 4, 2026 NOVM can fall 6.5% before its buffer engages and FHDG 1.1%.
askIQ about this page
askIQ about FHDG and NOVM
Net assets on Nov 3, 2026: $70m for FT Vest U.S. Equity Quarterly Dynamic Buffer ETF and $28m for FT Vest U.S. Equity Max Buffer ETF - November.
FHDG: reference +0.1% since period start, fund +0.9%; buffer 0 to −7; cap +3.9%; Between buffer and cap. Data to Nov 4, 2026.
FHDG: reference +0.1% since period start, fund +0.9%; buffer 0 to −7; cap +3.9%; Between buffer and cap. Data to Nov 4, 2026.NOVM: reference +16.3% since period start, fund +6.0%; buffer 0 to −58; cap +7.0%; At its cap. Data to Nov 4, 2026.
NOVM: reference +16.3% since period start, fund +6.0%; buffer 0 to −58; cap +7.0%; At its cap. Data to Nov 4, 2026.Pair scorecard
Both cost 0.85% a year; their one-year returns differ by 5.7 points; FHDG is 2.5 times larger.
Points (pts) are percentage points.
| Measure | FHDG | NOVM |
|---|---|---|
| Return | ||
| Total return, 1 year | +12.2% | +6.5% |
| Drawdown | ||
| Index fall to the buffer | 0.1% | 14.0% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.85% | 0.85% |
| Net assets, as of Nov 3, 2026 | $70m | $28m |
| Holdings | ||
| Holdings in common | not published | |
How much of a bear-market fall the buffer would absorb from today's level, ranked against 292 buffer ETFs on stocks with a live outcome period. 100 is best. How it is computed
Today's position against one 20% fall; it ignores smaller falls, and stock buffers are never ranked against bond or commodity ones. All buffer ETFs ranked by it →
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | FHDG | NOVM | FHDG | NOVM |
| 3 months | +0.9% | +1.3% | +1.3 pts | +1.7 pts |
| 6 months | +4.6% | +2.9% | +0.1 pts | −1.6 pts |
| 1 year | +12.2% | +6.5% | −1.4 pts | −7.1 pts |
| Since launchFHDG Nov 2024 · NOVM Nov 2024 | +22.3% | +13.1% | −8.1 pts | −17.3 pts |
Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Open this comparison in the app →
Side by side
As of Nov 4, 2026. Source: ETFIQ.
NOVM is already at its cap, so more rise in the index adds nothing to it before the period ends.
Both are First Trust funds, so the difference between them is the terms rather than the house.
Where each one stands today
FHDG resets first, on Nov 20, 2026, 16 days from now; NOVM runs to Nov 20, 2026, 16 days. FHDG can still gain 2.8% before its cap, NOVM 0.1%. A fall from here reaches FHDG’s buffer after 1.1% and NOVM’s after 6.5%. Both track SPY, so what separates them is where each is in its own period.
FHDG
From its price on Nov 4, 2026, the fund can gain about 2.8% more before it reaches its cap. The fund's price can fall 1.1% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 0.1% from today's level to the point where the buffer begins. Protection left, in index points: 7.5% of the 7.5% buffer still sits below today's SPY level. 16 days remained on Nov 4, 2026. On Nov 20, 2026 the period ends and a new cap is set.
NOVM
SPY had already risen past this fund's cap of +7.0% for the period on Nov 4, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 0.1% as the period runs out. The fund's price can fall 6.5% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 14.0% from today's level to the point where the buffer begins. Protection left, in index points: 58.0% of the 58.0% buffer still sits below today's SPY level.
Questions people ask
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
It is a place in a set, not a rating or a recommendation.
ETFIQ calculates every number from each issuer’s published outcome-period terms. Buffer ETFs hold options on an index, not shares, so there is no holdings overlap to report.
Every number is an ETFIQ calculation with distributions reinvested.
Cite this pageCitation, APA and Markdown
ETFIQ, FHDG against NOVM, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/fhdg-vs-novm
ETFIQ. (Nov 4, 2026). FHDG against NOVM. Retrieved from https://etfiq.com/compare/buffer/fhdg-vs-novm
[FHDG against NOVM (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/fhdg-vs-novm)
Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.