{"schemaVersion":1,"ticker":"ZNOV","asOf":"2026-10-26","desk":"buffer","cite":{"publisher":"ETFIQ","page":"https://etfiq.com/funds/znov/","methodology":"https://etfiq.com/methodology/","as_of":"2026-10-26","credit":"Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records; risk-free rate: U.S. Treasury, Daily Treasury Bill Rates, 13-week coupon equivalent","class":"mixed","license":"https://etfiq.com/license/","license_text":"Only the numbers in etfiq_fields are ETFIQ's, free to use with attribution: ETFIQ (etfiq.com). Every other number stays under its owner's terms: issuer_fields as the issuer published them, vendor_fields from an end-of-day data vendor.","fields_note":"Not yet classed field by field: only data ETFIQ computes is covered by its licence.","cite_as":"ETFIQ, Risk and return scorecard, ZNOV against its benchmark, data as of 2026-10-26, https://etfiq.com/funds/znov/"},"benchmark":{"ticker":"SPY","name":"SPY","tier":1,"kind":"reference asset","basisOnPage":"price","basisHere":"total"},"kind":"benchmark","a":"ZNOV","b":"SPY","window":{"from":"2024-11-08","to":"2026-10-23","firstReturn":"2024-11-15","weeklyReturns":102,"years":1.95,"short":true,"weekEnding":"2026-10-25"},"riskFree":{"rate":0.04026475,"perWeek":0.0007743222,"days":488,"series":"13-week Treasury bill, coupon equivalent, average of daily yields","source":"U.S. Department of the Treasury, Daily Treasury Bill Rates","url":"https://home.treasury.gov/resource-center/data-chart-center/interest-rates/TextView?type=daily_treasury_bill_rates"},"measures":{"total":{"a":0.12010816,"b":0.29968262,"edge":"SPY","lead":"SPY"},"annualised":{"a":0.05952918,"b":0.14296968,"edge":"SPY","lead":"SPY"},"price":{"a":0.12010816,"b":0.27044919,"edge":"SPY","lead":"SPY"},"volatility":{"a":0.02980978,"b":0.14808043,"edge":"ZNOV","lead":"ZNOV"},"downsideDeviation":{"a":0.02011658,"b":0.09892516,"edge":"ZNOV","lead":"ZNOV"},"maxDrawdown":{"a":-0.03063436,"b":-0.16877308,"edge":"ZNOV","lead":"ZNOV","aPeak":"2025-02-14","aTrough":"2025-04-04","bPeak":"2025-02-14","bTrough":"2025-04-04"},"excess":{"a":0.01803194,"b":0.10444477,"edge":"SPY","lead":"SPY"},"sharpe":{"a":0.60490022,"b":0.70532461,"edge":"SPY","lead":"SPY"},"sortino":{"a":0.89637231,"b":1.0557958,"edge":"SPY","lead":"SPY"},"calmar":{"a":1.94321608,"b":0.84711186,"edge":"ZNOV","lead":"ZNOV"}},"relative":{"ZNOV":{"on":"SPY","beta":0.18851886,"r2":0.87697539,"alpha":-0.00165787,"alphaT":-0.21990985,"alphaLow":-0.01661473,"alphaHigh":0.01329899,"upsideCapture":0.15217058,"downsideCapture":0.17713899,"treynor":0.0956506,"trackingError":0.1206185,"informationRatio":-0.71641436,"upWeeks":56,"downWeeks":46,"treynorReference":0.10444477,"edges":{"beta":{"edge":"Lower beta","neutral":true},"r2":{"edge":"Good fit","neutral":true},"alpha":{"edge":"Not significant"},"alphaRange":{"edge":"Includes zero"},"upsideCapture":{"edge":"SPY","lead":"SPY"},"downsideCapture":{"edge":"ZNOV","lead":"ZNOV"},"treynor":{"edge":"SPY (slight)","lead":"SPY"},"informationRatio":{"edge":null,"lead":"SPY","note":"one number for the pair: its sign says which side it favours"},"trackingError":{"edge":null,"neutral":true}}}},"sources":{"ZNOV":{"kept":"2026-10-26","distributions":0,"addedFromRecord":[],"notInVendorSeries":[],"vendorAmountDiffers":[],"vendorStepsWithoutDistribution":[],"issuerCloses":{"compared":8,"agree":8},"vendor":{"weeks":102,"beyond":0,"tolerance":0.0005,"worst":0.0,"vendorTotal":0.12010816}},"SPY":{"kept":"2026-10-26","distributions":8,"addedFromRecord":[],"notInVendorSeries":[],"vendorAmountDiffers":[],"vendorStepsWithoutDistribution":[],"issuerCloses":{"compared":9,"agree":9},"vendor":{"weeks":102,"beyond":0,"tolerance":0.0005,"worst":0.0,"vendorTotal":0.29968262}}}}