DSEP vs. NVDY
DSEP (FT Cboe Vest U.S. Equity Deep Buffer ETF - September) and NVDY (YieldMax NVDA Option Income Strategy ETF) are both exchange-traded funds - DSEP is a Options Trading fund tracking the Cboe S&P 500 30% (-5% to -35%) Buffer Protect September Series Index, while NVDY is a Derivative Income fund actively managed by YieldMax. DSEP is passively managed, while NVDY is actively managed. Over the past 3 years, DSEP returned 12.47%/yr vs 54.54%/yr for NVDY. A 0.57 correlation means they provide meaningful diversification when combined. DSEP charges 0.85%/yr vs 0.99%/yr for NVDY.
Performance
DSEP vs. NVDY - Performance Comparison
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Returns By Period
In the year-to-date period, DSEP achieves a 5.26% return, which is significantly lower than NVDY's 13.06% return.
DSEP
- 1D
- -0.19%
- 1M
- 1.98%
- YTD
- 5.26%
- 6M
- 5.65%
- 1Y
- 14.32%
- 3Y*
- 12.47%
- 5Y*
- 8.02%
- 10Y*
- —
NVDY
- 1D
- -2.22%
- 1M
- 5.54%
- YTD
- 13.06%
- 6M
- 17.67%
- 1Y
- 46.64%
- 3Y*
- 54.54%
- 5Y*
- —
- 10Y*
- —
DSEP vs. NVDY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
DSEP FT Cboe Vest U.S. Equity Deep Buffer ETF - September | 5.26% | 10.75% | 11.29% | 12.80% |
NVDY YieldMax NVDA Option Income Strategy ETF | 13.06% | 27.38% | 114.23% | 42.02% |
Correlation
The correlation between DSEP and NVDY is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since May 12, 2023 | 0.57 |
The correlation between DSEP and NVDY has been stable across timeframes, ranging from 0.55 to 0.57 - a consistent structural relationship.
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Return for Risk
DSEP vs. NVDY — Risk / Return Rank
DSEP
NVDY
DSEP vs. NVDY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest U.S. Equity Deep Buffer ETF - September (DSEP) and YieldMax NVDA Option Income Strategy ETF (NVDY). 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.
| DSEP | NVDY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.73 | ||
| Sortino ratioReturn per unit of downside risk | +1.31 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.29 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 3.17 | 3.66 | -0.49 |
| Martin ratioReturn relative to average drawdown | 15.66 | 9.00 | +6.66 |
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
| DSEP | NVDY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.45 | 1.72 | +0.73 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.04 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.14 | 1.64 | -0.49 |
Drawdowns
DSEP vs. NVDY - Drawdown Comparison
The maximum DSEP drawdown since its inception was -11.78%, smaller than the maximum NVDY drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for DSEP and NVDY.
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Drawdown Indicators
| DSEP | NVDY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.78% | -34.08% | +22.30% |
Max Drawdown (1Y)Largest decline over 1 year | -4.54% | -12.81% | +8.27% |
Max Drawdown (3Y)Largest decline over 3 years | -9.93% | -34.08% | +24.15% |
Max Drawdown (5Y)Largest decline over 5 years | -11.78% | — | — |
Current DrawdownCurrent decline from peak | -0.19% | -6.66% | +6.47% |
Average DrawdownAverage peak-to-trough decline | -1.85% | -6.15% | +4.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 5.20% | -4.28% |
Volatility
DSEP vs. NVDY - Volatility Comparison
The current volatility for FT Cboe Vest U.S. Equity Deep Buffer ETF - September (DSEP) is 0.93%, while YieldMax NVDA Option Income Strategy ETF (NVDY) has a volatility of 9.46%. This indicates that DSEP experiences smaller price fluctuations and is considered to be less risky than NVDY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DSEP | NVDY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.93% | 9.46% | -8.53% |
Volatility (6M)Calculated over the trailing 6-month period | 4.55% | 20.68% | -16.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.88% | 27.35% | -21.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.74% | 38.24% | -30.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.47% | 38.24% | -30.77% |
DSEP vs. NVDY - Expense Ratio Comparison
DSEP has a 0.85% expense ratio, which is lower than NVDY's 0.99% expense ratio.
Dividends
DSEP vs. NVDY - Dividend Comparison
DSEP has not paid dividends to shareholders, while NVDY's dividend yield for the trailing twelve months is around 61.36%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
DSEP FT Cboe Vest U.S. Equity Deep Buffer ETF - September | 0.00% | 0.00% | 0.00% | 0.00% |
NVDY YieldMax NVDA Option Income Strategy ETF | 61.36% | 83.10% | 83.65% | 22.32% |
Frequently Asked Questions
DSEP and NVDY have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NVDY has higher volatility (9.46%) compared to DSEP (0.93%). In terms of maximum drawdown, DSEP dropped -11.78% vs NVDY's -34.08%.
On 3-year performance, NVDY leads with 54.54% vs 12.47% for DSEP. On fees, DSEP is cheaper at 0.85% per year. On volatility, DSEP has been the lower-risk option at 0.93%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, NVDY has performed better with a 54.54% return vs 12.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DSEP is cheaper with a 0.85% expense ratio, compared with 0.99% for NVDY.
NVDY has the higher dividend yield at 61.36%, compared with 0.00% for DSEP.
DSEP is categorized as Options Trading, while NVDY is Derivative Income. They also come from different issuers: FT Vest and YieldMax. Their fees differ too: 0.85% for DSEP and 0.99% for NVDY.
DSEP currently has the higher Sharpe Ratio (2.45 vs 1.72), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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