NNOV vs SPY
Innovator Growth-100 Power Buffer ETF - November vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | NNOV | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.79% | 0.09% | |
| AUM | $89M | $821.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 6 | 505 | |
| YTD Return | +11.11% | +14.24% | |
| 1Y Return | +13.56% | +21.71% | |
| 3Y Return (annualized) | - | +22.10% | |
| 5Y Return (annualized) | - | +13.21% | |
| Volatility (annualized) | 9.3% | 15.3% | |
| Max Drawdown | -12.8% | -56.5% | |
| Fund Family | Innovator ETFs Trust | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Nov 1, 2024 | Jan 22, 1993 |
NNOV vs SPY Performance
Innovator Growth-100 Power Buffer ETF - November (NNOV) is a ETF from Innovator ETFs Trust and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year NNOV returned +13.56% while SPY returned +21.71%. Year to date, NNOV is up 11.11% versus a gain of 14.24% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 9.3% for NNOV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -12.8% for NNOV and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.95. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
NNOV charges 0.79% per year while SPY charges 0.09%. On a $10,000 position that is $79 vs $9 annually, a gap of $70 per year that compounds over a long holding period. On income, NNOV currently yields 0.00% against 1.01% for SPY.
Frequently Asked Questions
Which is cheaper, NNOV or SPY?
NNOV has an expense ratio of 0.79% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $70 per year of difference.
Which performed better, NNOV or SPY?
Over the past year NNOV returned +13.56% vs +21.71% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), NNOV annualized +14.37% vs +8.86% for SPY. Past performance does not guarantee future results.
Which is riskier, NNOV or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 9.3% for NNOV. Worst drawdown: NNOV -12.8% vs SPY -56.5%.
Should I hold both NNOV and SPY?
NNOV and SPY have a monthly-return correlation of 0.95, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
Which pays a higher dividend, NNOV or SPY?
NNOV yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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