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Beacon

NOVMFT Vest U.S. Equity Max Buffer ETF – November

Grow my money1y track recordRanked #2,680 of 2,966 in this goal

Seeks to provide returns that match the price return of the SPDR S&P 500 ETF Trust up to a predetermined upside cap while providing a buffer against losses.

By First Trust · Launched 2024

Annual Cost

0.85%

#4,341 of 5,568 · expensive

Fund Size

$28M

#4,133 of 5,568 · small

Return (1Y)Goal

+7.9%

Track Record

1 year

#3,940 of 5,568 · young

Performance

Total-return NAV · USD
Growth of $10,000
$10,816+8.2%

Total-return NAV, USD. Net of fund fees, before tax.

Classification

How Beacon categorizes this fund

Asset class

Alternative

Region

North america

Strategy

Structured outcome

Index tracked

S&P 500 Index

What it actually holds

By weight

Concentration

Top 10 holdings = 106.6% of fundconcentrated

CBOE GLOBAL MARKETS, INC.SPY 11 C6.57
93.3%
CBOE GLOBAL MARKETS, INC.SPY 11 C6.57
7.6%
CBOE GLOBAL MARKETS, INC.SPY 11 P659.01
4.4%
Dreyfus Government Cash Management
0.7%
CBOE GLOBAL MARKETS, INC.SPY 11 P659.01
0.4%
CBOE GLOBAL MARKETS, INC.SPY 11 C6.57
0.3%
CBOE GLOBAL MARKETS, INC.SPY 11 P659.01
0.0%
CBOE GLOBAL MARKETS, INC.SPY 11 P277.12
-0.0%
CBOE GLOBAL MARKETS, INC.SPY 11 P277.12
-0.0%
CBOE GLOBAL MARKETS, INC.SPY 11 C705.16
-0.0%

Asset allocation

Stocks
99.2%
Cash
0.8%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
2.2%Low

Year-on-year price swings

Max drawdown
-3.3%Mild

Worst peak-to-trough loss

Sharpe (3Y)
Unavailable

Needs 3+ years of history

Sortino (3Y)
Not yet

Needs 3+ years of history

Where to buy

Listing

Exchange
Cboe BZX

Full fund details

Objective
Seeks to provide returns that match the price return of the SPDR S&P 500 ETF Trust up to a predetermined upside cap while providing a buffer against losses.
Strategy
Invests primarily in FLEX Options referencing the SPDR S&P 500 ETF Trust to implement a target outcome strategy. Aims to provide a maximum buffer against losses while setting a predetermined upside cap of at least 7% for each Target Outcome Period.
Inception date
November 14, 2024
Fund family
First Trust

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Buffer
Warning

Buffer ETF — downside protection at a cost

Defined-outcome funds cap upside (typically 8–20%) in exchange for partial downside protection (9–30%), priced via options. Fees are materially higher than the underlying index (often 0.70%+ vs 0.03–0.10%). For most pre-retirees, a simple stock/bond mix achieves similar downside behaviour at a fraction of the cost.

Source: Morningstar, 'Defined-Outcome ETFs: Useful or Uneconomic?' (2023)

Why we flagged this: strategy=structured_outcome + structured_outcome_strategy

Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More

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Data updated on 2026-06-20