DDFS vs. NVDO

Last updated Jun 4, 2026

DDFS (Innovator Equity Dual Directional 15 Buffer ETF - September) and NVDO (Leverage Shares 2x Capped Accelerated NVDA Monthly ETF) are both Defined Outcome funds. Both are actively managed. At a 0.48 correlation, their price movements are largely independent. DDFS charges 0.79%/yr vs 0.77%/yr for NVDO.

Performance

DDFS vs. NVDO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Equity Dual Directional 15 Buffer ETF - September (DDFS) 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, DDFS achieves a 3.40% return, which is significantly lower than NVDO's 18.85% return.

DDFS

• 1D: -0.16%
• 1M: 0.83%
• YTD: 3.40%
• 6M: 4.28%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

NVDO

• 1D: -2.46%
• 1M: 14.15%
• YTD: 18.85%
• 6M: 29.58%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DDFS vs. NVDO - Yearly Performance Comparison

	2026 (YTD)	2025
DDFS Innovator Equity Dual Directional 15 Buffer ETF - September	3.40%	3.29%
NVDO Leverage Shares 2x Capped Accelerated NVDA Monthly ETF	18.85%	17.44%

Correlation

The correlation between DDFS and NVDO is 0.48, 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 Sep 3, 2025	0.48

Return for Risk

DDFS vs. NVDO - Risk-Adjusted Trends Comparison

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

	DDFS	NVDO	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	2.26	1.30	+0.96

Drawdowns

DDFS vs. NVDO - Drawdown Comparison

The maximum DDFS drawdown since its inception was -2.29%, smaller than the maximum NVDO drawdown of -16.25%. Use the drawdown chart below to compare losses from any high point for DDFS and NVDO.

Drawdown Indicators

	DDFS	NVDO	Difference
Max Drawdown Largest peak-to-trough decline	-2.29%	-16.25%	+13.96%
Current Drawdown Current decline from peak	-0.18%	-2.68%	+2.50%
Average Drawdown Average peak-to-trough decline	-0.31%	-4.99%	+4.68%

Volatility

Volatility by Period

	DDFS	NVDO	Difference
Volatility (1Y) Calculated over the trailing 1-year period	4.07%	31.93%	-27.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.07%	31.93%	-27.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.07%	31.93%	-27.86%

DDFS vs. NVDO - Expense Ratio Comparison

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

Dividends

DDFS vs. NVDO - Dividend Comparison

DDFS has not paid dividends to shareholders, while NVDO's dividend yield for the trailing twelve months is around 14.02%.

Position	TTM	2025
DDFS Innovator Equity Dual Directional 15 Buffer ETF - September	0.00%	0.00%
NVDO Leverage Shares 2x Capped Accelerated NVDA Monthly ETF	14.02%	16.66%

Frequently Asked Questions

Can I hold both DDFS and NVDO in my portfolio?

DDFS and NVDO have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DDFS 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, DDFS or NVDO?

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

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

NVDO has the higher dividend yield at 14.02%, compared with 0.00% for DDFS.

What is the main difference between DDFS and NVDO?

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