FT Vest U.S. Equity Deep Buffer ETF - November
DNOV
Chicago Board Options Exchange- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 120 East Liberty Drive, Suite 400 Wheaton IL United States of America 60187
- IPO Date
- Nov 18, 2019
- CIK
- 0001667919
- Website
- ftportfolios.com
- Similar Companies
- Business
- FT Vest U.S. Equity Deep Buffer ETF - November (DNOV) is an actively managed exchange-traded fund that seeks to provide investors with returns, before fees and expenses, that match the price return of the SPDR S&P 500 ETF Trust (SPY) up to a predefined cap while offering a deep buffer against the first 25% to 30% of losses in SPY over a one-year target outcome period ending each November; the fund invests substantially all of its assets in Flexible Exchange (FLEX) Options referencing SPY, including call and put options, along with cash and U.S. Treasuries as collateral. DNOV belongs to the defined outcome ETF category within the large-cap U.S. equity segment, targeting investors seeking equity market exposure with downside protection; it primarily holds a concentrated portfolio of four to five FLEX Options, with top holdings comprising over 99% of assets, including long call options, short put options, and short call options on SPY for the applicable November series. The fund operates in the United States, trades on the Cboe BZX Exchange, and serves retail and institutional investors focused on structured equity strategies. First Trust Advisors L.P. serves as investment adviser, with Cboe Vest Financial LLC as sub-adviser, overseeing the options-based target outcome strategy; the fund, part of First Trust Exchange-Traded Fund VIII, was launched on November 15, 2019, and is domiciled in the United States with no specified single headquarters beyond the adviser's locations in Wheaton, Illinois. As of late 2025, DNOV manages approximately $320 million to $370 million in assets under management, with a net expense ratio of 0.85% and daily pricing. Recent developments include the appointment of Trevor Lack as co-portfolio manager effective January 2, 2025, alongside Karan Sood, reflecting enhancements to the management team amid First Trust's ongoing expansion of its target outcome ETF lineup, which added new buffered products like the First Trust Enhanced Stocks, Bonds & Gold ETF (ESBG) in November 2025 and proposed reorganizations of Vest mutual funds into ETFs. The fund released its latest quarterly holdings report as of November 30, 2024, and announced distributions in November 2025 as part of routine operations; institutional ownership saw increases, such as Truist Financial Corp raising its stake by 15.61% in early 2025. No major acquisitions, partnerships, or strategic shifts specific to DNOV were reported in the last 1-2 years, though the broader First Trust platform continues periodic resets of outcome periods with adjusted caps and buffers based on market conditions.