# XNOV (FT Vest U.S. Equity Enhance & Moderate Buffer ETF - November)

First Trust · Buffer ETFs · data as of Sep 21, 2026

As of Sep 21, 2026, XNOV has reached its cap.

## Key facts

- XNOV, past the cap, price drift left: 0.9%, as of Sep 21, 2026.
- XNOV, fall before the buffer: 9.2%, as of Sep 21, 2026.
- XNOV, protection left, index points: 15.0%, as of Sep 21, 2026.
- XNOV, days to reset: 60, as of Sep 21, 2026.
- XNOV, net assets: $58m (issuer page, as of Sep 18, 2026).
- XNOV, expense ratio: 0.85% (issuer page, Sep 21, 2026).

## XNOV over each window to Sep 21, 2026

| Window | Total return | SPY | Gap to SPY |
| --- | --- | --- | --- |
| 3 months | +2.2% | +2.3% | 0.0 pts |
| 6 months | +8.5% | +18.0% | −9.5 pts |
| 1 year | +10.6% | +16.6% | −6.0 pts |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Reference index | SPY | ETFIQ |
| Buffer | 15% | ETFIQ |
| Outcome period | Nov 24, 2025 to Nov 20, 2026 | ETFIQ |
| Starting cap | +11.1% | ETFIQ |
| SPY return since period start | +17.4% | ETFIQ |
| Fund return since period start | +9.2% | ETFIQ |
| Net assets | $58m | issuer page, as of Sep 18, 2026 |
| Band state today | At cap | ETFIQ |
| Can still gain | 0.9% | issuer, fund price |
| Fall before buffer | 9.2% | issuer, fund price |
| Fall to the buffer in index terms | 14.8% | ETFIQ |
| Protection left in index points | 15.0% of 15.0% | ETFIQ |
| Days left in period | 60 | ETFIQ |
| Expense ratio | 0.85% | issuer page, Sep 21, 2026 |

## Questions

### How much can XNOV still gain?

Nothing more in index terms on Sep 21, 2026. SPY has already passed the cap of +11.1% for this period, which runs from Nov 24, 2025 to Nov 20, 2026.

### How far can XNOV fall before the buffer helps?

9.2% in fund-price terms on Sep 21, 2026, by the issuer's figure. In index terms SPY can fall 14.8% from that level before the buffer begins. Losses until that point are the holder's.

### How much of the XNOV buffer is left?

15.0% of the 15.0% buffer sat below the SPY level on Sep 21, 2026. That is an ETFIQ calculation in index points, on one definition for every issuer.

### When does XNOV reset?

The outcome period ends on Nov 20, 2026, 60 days from the data on Sep 21, 2026. A new cap is set the next day and the buffer starts again.

### What does XNOV cost?

The prospectus expense ratio is 0.85% a year.


## Cite this page

ETFIQ, XNOV, data as of Sep 21, 2026. https://etfiq.com/funds/xnov
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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