BFRZ vs DNOV
Innovator Equity Managed 100 Buffer ETF vs FT Vest US Equity Deep Buffer ETF - November
Which is better, BFRZ or DNOV?
DNOV has been ahead.
DNOV has a lower expense ratio. DNOV led over 1Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | BFRZ | DNOV |
|---|---|---|
| Expense Ratio | 0.89% | 0.85%Best |
| AUM | $147M | $400M |
| Dividend Yield | 0.25% | 0.00% |
| Holdings | 567 | 10 |
| YTD Return | +1.76% | +8.34%Best |
| 1Y Return | +3.04% | +13.12%Best |
| 3Y Return (annualized) | - | +13.48% |
| 5Y Return (annualized) | - | +8.63% |
| Volatility (annualized) | 4.0%Best | 5.3% |
| Max Drawdown | -3.1%Best | -4.2% |
| $10,000 over 1.4 years | $10,916 | $12,240Best |
| Fund Family | Innovator ETFs Trust | First Trust Portfolios (US) |
| Category | Alternative | Alternative |
| Style | Option Writing | Option Writing |
| Inception | May 13, 2025 | Nov 18, 2019 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.4 years row, are measured over the window both funds cover: May 13, 2025 to Oct 14, 2026 (1.4 years).
BFRZ vs DNOV growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.4 years both funds cover.
BFRZ vs DNOV Performance
Innovator Equity Managed 100 Buffer ETF (BFRZ) is an ETF from Innovator ETFs Trust and FT Vest US Equity Deep Buffer ETF - November (DNOV) is an ETF from First Trust Portfolios (US). Over the past year BFRZ returned +3.04% while DNOV returned +13.12%. Year to date, BFRZ is up 1.76% versus a gain of 8.34% for DNOV.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DNOV has been the more volatile fund, with annualized monthly volatility of 5.3% compared with 4.0% for BFRZ. 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 -3.1% for BFRZ and -4.2% for DNOV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.44. They move together some of the time, and apart the rest.
Fees and Cost Over Time
BFRZ charges 0.89% per year while DNOV charges 0.85%. On a $10,000 position that is $89 vs $85 annually, a gap of $4 per year that compounds over a long holding period. On income, BFRZ currently yields 0.25% against 0.00% for DNOV.
You are not choosing between two funds in isolation.
Whichever of BFRZ and DNOV you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, BFRZ or DNOV?
BFRZ has an expense ratio of 0.89% while DNOV charges 0.85%. DNOV is the cheaper option, by $4 a year on a $10,000 investment.
Which performed better, BFRZ or DNOV?
Over the past year BFRZ returned +3.04% vs +13.12% for DNOV, so DNOV leads on 1-year performance. Over the longest common window we track (1 years), BFRZ annualized +6.46% vs +15.53% for DNOV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, BFRZ or DNOV?
DNOV has been the more volatile fund at 5.3% annualized versus 4.0% for BFRZ. Worst drawdown: BFRZ -3.1% vs DNOV -4.2%.
Should I hold both BFRZ and DNOV?
BFRZ and DNOV have a monthly-return correlation of 0.44, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, BFRZ or DNOV?
BFRZ yields 0.25% while DNOV yields 0.00%, so BFRZ currently pays the higher dividend yield.
Is DNOV better than BFRZ?
DNOV has a lower expense ratio. DNOV led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.