DNOVFT Cboe Vest U.S. Equity Deep Buffer ETF - November
DNOV Fund Description
DNOV aims for specific buffered losses and capped gains on SPY ETF over a specific holdings period. The actively-managed fund holds options and collateral.
DNOV Factset Analytics Insight
DNOV uses options in an effort to moderate losses on SPY ETF over a one-year period starting each November. The fund foregoes some upside return of SPY’s dividend as options are written on the price (not total) return version of the index. The fund provides a 5% coverage on SPY’s losses between 5%-30%, and a 25% coverage if the losses went beyond the buffer zone. In exchange for preventing realization of SPY’s losses, investors forego upside participation above a certain threshold, which is reset annually. Investors who buy at any other time than the annual reset day may have a very different protection and buffer zone. The issuer publishes effective interim levels daily on its website. The fund must be held to the end of the period to achieve the intended results. The targeted buffers and caps do not include the fund’s expense ratio. The fund is actively managed and uses flex options exclusively.
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DNOV Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of DNOV. DNOV is rated a N/A out of 5.
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