BALT vs. NVDO
BALT (Innovator Defined Wealth Shield ETF) and NVDO (Leverage Shares 2x Capped Accelerated NVDA Monthly ETF) are both Defined Outcome funds. BALT is passively managed, while NVDO is actively managed. At a 0.44 correlation, their price movements are largely independent. BALT charges 0.69%/yr vs 0.77%/yr for NVDO.
Performance
BALT vs. NVDO - Performance Comparison
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Returns By Period
In the year-to-date period, BALT achieves a 1.91% return, which is significantly lower than NVDO's 18.85% return.
BALT
- 1D
- -0.06%
- 1M
- 0.53%
- YTD
- 1.91%
- 6M
- 2.81%
- 1Y
- 6.95%
- 3Y*
- 7.27%
- 5Y*
- —
- 10Y*
- —
NVDO
- 1D
- -2.46%
- 1M
- 14.15%
- YTD
- 18.85%
- 6M
- 29.58%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BALT vs. NVDO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BALT Innovator Defined Wealth Shield ETF | 1.91% | 3.20% |
NVDO Leverage Shares 2x Capped Accelerated NVDA Monthly ETF | 18.85% | 11.12% |
Correlation
The correlation between BALT and NVDO is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 14, 2025 | 0.44 |
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Return for Risk
BALT vs. NVDO — Risk / Return Rank
BALT
NVDO
BALT vs. NVDO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Defined Wealth Shield ETF (BALT) and Leverage Shares 2x Capped Accelerated NVDA Monthly ETF (NVDO). 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.
| BALT | NVDO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.67 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 6.05 | — | — |
| Martin ratioReturn relative to average drawdown | 22.58 | — | — |
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
| BALT | NVDO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.19 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.80 | 1.30 | +0.50 |
Drawdowns
BALT vs. NVDO - Drawdown Comparison
The maximum BALT drawdown since its inception was -4.89%, smaller than the maximum NVDO drawdown of -16.25%. Use the drawdown chart below to compare losses from any high point for BALT and NVDO.
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Drawdown Indicators
| BALT | NVDO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.89% | -16.25% | +11.36% |
Max Drawdown (1Y)Largest decline over 1 year | -1.15% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -4.89% | — | — |
Current DrawdownCurrent decline from peak | -0.06% | -2.68% | +2.62% |
Average DrawdownAverage peak-to-trough decline | -0.34% | -4.99% | +4.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.31% | — | — |
Volatility
BALT vs. NVDO - Volatility Comparison
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Volatility by Period
| BALT | NVDO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.37% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 1.56% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.19% | 31.93% | -29.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.32% | 31.93% | -28.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.32% | 31.93% | -28.61% |
BALT vs. NVDO - Expense Ratio Comparison
BALT has a 0.69% expense ratio, which is lower than NVDO's 0.77% expense ratio.
Dividends
BALT vs. NVDO - Dividend Comparison
BALT has not paid dividends to shareholders, while NVDO's dividend yield for the trailing twelve months is around 14.02%.
| Position | TTM | 2025 |
|---|---|---|
BALT Innovator Defined Wealth Shield ETF | 0.00% | 0.00% |
NVDO Leverage Shares 2x Capped Accelerated NVDA Monthly ETF | 14.02% | 16.66% |
Frequently Asked Questions
BALT and NVDO have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BALT is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BALT is cheaper with a 0.69% expense ratio, compared with 0.77% for NVDO.
NVDO has the higher dividend yield at 14.02%, compared with 0.00% for BALT.
They also come from different issuers: Innovator and Leverage Shares. Their fees differ too: 0.69% for BALT and 0.77% for NVDO.
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