AAPI.L vs. NVDI.L
AAPI.L (IncomeShares Apple (AAPL) Options ETP GBP) and NVDI.L (IncomeShares NVIDIA NVDA Options ETP) are both exchange-traded funds - AAPI.L is a Derivative Income fund actively managed by Leverage Shares, while NVDI.L is a Options Trading fund actively managed by Leverage Shares. Both are actively managed. Over the past year, AAPI.L returned 19.57% vs 20.36% for NVDI.L. At a 0.28 correlation, their price movements are largely independent. Both charge a 0.55% expense ratio.
Performance
AAPI.L vs. NVDI.L - Performance Comparison
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Different Trading Currencies
AAPI.L is traded in GBp, while NVDI.L is traded in USD. To make them comparable, the NVDI.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, AAPI.L achieves a 4.07% return, which is significantly higher than NVDI.L's -0.06% return.
AAPI.L
- 1D
- -0.34%
- 1M
- 9.04%
- YTD
- 4.07%
- 6M
- 1.51%
- 1Y
- 19.57%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NVDI.L
- 1D
- -0.03%
- 1M
- 4.84%
- YTD
- -0.06%
- 6M
- 1.31%
- 1Y
- 20.36%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AAPI.L vs. NVDI.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
AAPI.L IncomeShares Apple (AAPL) Options ETP GBP | 4.07% | -12.96% | 20.45% |
NVDI.L IncomeShares NVIDIA NVDA Options ETP | -0.06% | 8.34% | 17.46% |
Correlation
The correlation between AAPI.L and NVDI.L is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2024 | 0.28 |
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Return for Risk
AAPI.L vs. NVDI.L — Risk / Return Rank
AAPI.L
NVDI.L
AAPI.L vs. NVDI.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for IncomeShares Apple (AAPL) Options ETP GBP (AAPI.L) and IncomeShares NVIDIA NVDA Options ETP (NVDI.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| AAPI.L | NVDI.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.35 | ||
| Sortino ratioReturn per unit of downside risk | +0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.13 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.03 | 0.95 | +0.08 |
| Martin ratioReturn relative to average drawdown | 2.36 | 1.84 | +0.52 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AAPI.L | NVDI.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.98 | 0.64 | +0.35 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | 0.05 | +0.17 |
Drawdowns
AAPI.L vs. NVDI.L - Drawdown Comparison
The maximum AAPI.L drawdown since its inception was -31.31%, smaller than the maximum NVDI.L drawdown of -33.89%. Use the drawdown chart below to compare losses from any high point for AAPI.L and NVDI.L.
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Drawdown Indicators
| AAPI.L | NVDI.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.31% | -33.89% | +2.58% |
Max Drawdown (1Y)Largest decline over 1 year | -18.90% | -22.04% | +3.14% |
Current DrawdownCurrent decline from peak | -10.13% | -11.75% | +1.62% |
Average DrawdownAverage peak-to-trough decline | -14.68% | -11.82% | -2.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.29% | 11.47% | -3.18% |
Volatility
AAPI.L vs. NVDI.L - Volatility Comparison
The current volatility for IncomeShares Apple (AAPL) Options ETP GBP (AAPI.L) is 4.51%, while IncomeShares NVIDIA NVDA Options ETP (NVDI.L) has a volatility of 9.96%. This indicates that AAPI.L experiences smaller price fluctuations and is considered to be less risky than NVDI.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AAPI.L | NVDI.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.51% | 9.96% | -5.45% |
Volatility (6M)Calculated over the trailing 6-month period | 14.01% | 20.22% | -6.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.85% | 33.01% | -13.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.79% | 39.69% | -15.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.79% | 39.69% | -15.90% |
AAPI.L vs. NVDI.L - Expense Ratio Comparison
Both AAPI.L and NVDI.L have an expense ratio of 0.55%.
Dividends
AAPI.L vs. NVDI.L - Dividend Comparison
AAPI.L's dividend yield for the trailing twelve months is around 11.05%, less than NVDI.L's 20.63% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
AAPI.L IncomeShares Apple (AAPL) Options ETP GBP | 11.05% | 11.04% | 1.04% |
NVDI.L IncomeShares NVIDIA NVDA Options ETP | 20.63% | 32.04% | 2.59% |
Frequently Asked Questions
AAPI.L and NVDI.L have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.55% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
AAPI.L and NVDI.L have the same expense ratio: 0.55% per year.
AAPI.L is categorized as Derivative Income, while NVDI.L is Options Trading.
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