DDFO vs. NVDO

Last updated Jun 6, 2026

DDFO (Innovator Equity Dual Directional 15 Buffer ETF - October) and NVDO (Leverage Shares 2x Capped Accelerated NVDA Monthly ETF) are both Defined Outcome funds. DDFO is passively managed, while NVDO is actively managed. A 0.52 correlation means they provide meaningful diversification when combined. DDFO charges 0.79%/yr vs 0.77%/yr for NVDO.

Performance

DDFO vs. NVDO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Equity Dual Directional 15 Buffer ETF - October (DDFO) and Leverage Shares 2x Capped Accelerated NVDA Monthly ETF (NVDO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DDFO achieves a 3.31% return, which is significantly lower than NVDO's 14.63% return.

DDFO

• 1D: -0.40%
• 1M: 0.25%
• YTD: 3.31%
• 6M: 3.74%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

NVDO

• 1D: -5.25%
• 1M: 6.30%
• YTD: 14.63%
• 6M: 23.06%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

DDFO vs. NVDO - Yearly Performance Comparison

	2026 (YTD)	2025
DDFO Innovator Equity Dual Directional 15 Buffer ETF - October	3.31%	1.72%
NVDO Leverage Shares 2x Capped Accelerated NVDA Monthly ETF	14.63%	6.22%

Correlation

The correlation between DDFO and NVDO is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 2, 2025	0.52

Return for Risk

DDFO vs. NVDO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Dual Directional 15 Buffer ETF - October (DDFO) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	DDFO	NVDO	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.63	1.08	+0.55

Drawdowns

DDFO vs. NVDO - Drawdown Comparison

The maximum DDFO drawdown since its inception was -2.79%, smaller than the maximum NVDO drawdown of -16.25%. Use the drawdown chart below to compare losses from any high point for DDFO and NVDO.

Drawdown Indicators

	DDFO	NVDO	Difference
Max Drawdown Largest peak-to-trough decline	-2.79%	-16.25%	+13.46%
Current Drawdown Current decline from peak	-0.53%	-6.14%	+5.61%
Average Drawdown Average peak-to-trough decline	-0.42%	-4.97%	+4.55%

Volatility

Volatility by Period

	DDFO	NVDO	Difference
Volatility (1Y) Calculated over the trailing 1-year period	4.70%	32.39%	-27.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.70%	32.39%	-27.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.70%	32.39%	-27.69%

DDFO vs. NVDO - Expense Ratio Comparison

DDFO has a 0.79% expense ratio, which is higher than NVDO's 0.77% expense ratio.

Dividends

DDFO vs. NVDO - Dividend Comparison

DDFO has not paid dividends to shareholders, while NVDO's dividend yield for the trailing twelve months is around 14.53%.

Position	TTM	2025
DDFO Innovator Equity Dual Directional 15 Buffer ETF - October	0.00%	0.00%
NVDO Leverage Shares 2x Capped Accelerated NVDA Monthly ETF	14.53%	16.66%

Frequently Asked Questions

Can I hold both DDFO and NVDO in my portfolio?

DDFO and NVDO have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DDFO or NVDO?

On fees, NVDO is cheaper at 0.77% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DDFO or NVDO?

NVDO is cheaper with a 0.77% expense ratio, compared with 0.79% for DDFO.

Which ETF pays a higher dividend yield, DDFO or NVDO?

NVDO has the higher dividend yield at 14.53%, compared with 0.00% for DDFO.

What is the main difference between DDFO and NVDO?

They also come from different issuers: Innovator and Leverage Shares. Their fees differ too: 0.79% for DDFO and 0.77% for NVDO.