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ETFs

Innovator U.S. Equity Power Buffer ETF - November

PNOV
$--
Today’s Change
-- (--)

Snapshot
*

Inception Date
Nov 01 2019
Expense Ratio
0.79%
Type
US Equities
Fund Owner
Innovator Management
Volume (1m avg. daily)
$756,629
AUM
$624,832,000
Associated Index
S&P 500 Index
Inverse/Leveraged
No
Passive/Active
Passive
Fractionable on Composer
Yes
Prospectus
View

Top 10 Holdings

n/a
SPY 10/31/2023 3.86 C
99.70%
n/a
Cash & Other
0.19%
n/a
SPY 10/31/2023 386.21 P
0.19%
n/a
SPY 10/31/2023 328.28 P
-0.04%
n/a
SPY 10/31/2023 465.46 C
-0.04%
Invest with PNOV

What is PNOV?

The Innovator S&P 500 Power Buffer ETF seeks to track the return of the S&P 500 Price Return Index, up to a predetermined cap, while buffering investors against the first 15% of losses over the outcome period. The ETF can be held indefinitely, resetting at the end of each outcome period, approximately annually.

ETFs related toPNOV

ETFs correlated to PNOV include GAUG, SPUU, SPLG

PNOV
Innovator ETFs Trust - Innovator U.S. Equity Power Buffer ETF - November
GAUG
First Trust Exchange-Traded Fund VIII - FT Cboe Vest U.S. Equity Moderate Buffer ETF - August
SPUU
Direxion Shares ETF Trust - Direxion Daily S&P 500 Bull 2X Shares
SPLG
SPDR Series Trust - SPDR Portfolio S&P 500 ETF
VOO
Vanguard Group, Inc. - Vanguard S&P 500 ETF
IVV
BlackRock Institutional Trust Company N.A. - iShares Core S&P 500 ETF
SSO
ProShares Trust - ProShares Ultra S&P500 2x Shares
SPY
SSgA Active Trust - SPDR S&P 500 ETF Trust
SPXL
Direxion Shares ETF Trust - Direxion Daily S&P 500 Bull 3X Shares
UPRO
ProShares Trust - ProShares UltraPro S&P 500 ETF 3x Shares
SCHX
Schwab Strategic Trust - Schwab U.S. Large-Cap ETF

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

Automated Strategies
Related toPNOV

#DSS

Diversify with Sin Stocks

Category

Grow Your Portfolio, Diversification

Risk Rating

Aggressive

#SPYMIN

SPY minimum drawdown

Category

Community

Risk Rating

Aggressive

Create your own algorithmic trading strategy with PNOV using Composer

FAQ

PNOV is a US Equities ETF. The Innovator S&P 500 Power Buffer ETF seeks to track the return of the S&P 500 Price Return Index, up to a predetermined cap, while buffering investors against the first 15% of losses over the outcome period. The ETF can be held indefinitely, resetting at the end of each outcome period, approximately annually.

PNOV tracks the S&P 500 Index.

No, PNOV is not actively managed. It is passively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

Yes, PNOV is passively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on PNOV is -0.008%. This is the percent change in the value of PNOV over the most recent 1-month period. The 3-month return on PNOV is 0.0036%. This is the percent change in the value of PNOV over the most recent 3-month period.

The standard deviation of PNOV for the past year is 0.1129%. Standard deviation is the typical amount that the daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

ETFs similar to PNOV include UAPR, UAUG, and ACIO.

ETFs correlated to PNOV include GAUG, SPUU, and SPLG.

ETFs that are inversely correlated to PNOV include SDS, SH, and SPXS.

Disclaimers

*

We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.