GNOV vs SPXL
FT Vest US Equity Moderate Buffer ETF - November vs Direxion Daily S&P 500 Bull 3X ETF
Which is better, GNOV or SPXL?
SPXL has been ahead.
GNOV has a lower expense ratio. SPXL led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.92.
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 | GNOV | SPXL |
|---|---|---|
| Expense Ratio | 0.85%Best | 0.87% |
| AUM | $300M | $7.4B |
| Dividend Yield | 0.00% | 0.52% |
| Holdings | 10 | 1,030 |
| YTD Return | +8.34% | +30.47%Best |
| 1Y Return | +13.36% | +39.94%Best |
| 3Y Return (annualized) | +12.23% | +52.99%Best |
| 5Y Return (annualized) | - | +20.66% |
| Volatility (annualized) | 5.2%Best | 36.5% |
| Max Drawdown | -10.7%Best | -49.0% |
| $10,000 over 2.9 years | $13,974 | $32,240Best |
| Fund Family | First Trust Portfolios (US) | Direxion Shares ETF Trust |
| Category | Alternative | Alternative |
| Style | Multi Alternative | Multi Alternative |
| Inception | Nov 17, 2023 | Nov 5, 2008 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 2.9 years row, are measured over the window both funds cover: Nov 20, 2023 to Oct 14, 2026 (2.9 years).
GNOV vs SPXL 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 2.9 years both funds cover.
GNOV vs SPXL Performance
FT Vest US Equity Moderate Buffer ETF - November (GNOV) is an ETF from First Trust Portfolios (US) and Direxion Daily S&P 500 Bull 3X ETF (SPXL) is an ETF from Direxion Shares ETF Trust. Over the past year GNOV returned +13.36% while SPXL returned +39.94%. Year to date, GNOV is up 8.34% versus a gain of 30.47% for SPXL.
Over three years, GNOV compounded at +12.23% per year against +52.99% for SPXL.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPXL has been the more volatile fund, with annualized monthly volatility of 36.5% compared with 5.2% for GNOV. 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 -10.7% for GNOV and -49.0% for SPXL. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.92. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
GNOV charges 0.85% per year while SPXL charges 0.87%. On a $10,000 position that is $85 vs $87 annually, a gap of $2 per year that compounds over a long holding period. On income, GNOV currently yields 0.00% against 0.52% for SPXL.
You are not choosing between two funds in isolation.
Whichever of GNOV and SPXL 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, GNOV or SPXL?
GNOV has an expense ratio of 0.85% while SPXL charges 0.87%. GNOV is the cheaper option, by $2 a year on a $10,000 investment.
Which performed better, GNOV or SPXL?
Over the past year GNOV returned +13.36% vs +39.94% for SPXL, so SPXL leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, GNOV or SPXL?
SPXL has been the more volatile fund at 36.5% annualized versus 5.2% for GNOV. Worst drawdown: GNOV -10.7% vs SPXL -49.0%.
Should I hold both GNOV and SPXL?
GNOV and SPXL have a monthly-return correlation of 0.92, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
Which pays a higher dividend, GNOV or SPXL?
GNOV yields 0.00% while SPXL yields 0.52%, so SPXL currently pays the higher dividend yield.
Is SPXL better than GNOV?
GNOV has a lower expense ratio. SPXL led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.92. Which one suits a particular account depends on what it is for. This is information, not a recommendation.