KBFR vs. NVDO

Last updated Jun 6, 2026

KBFR (Innovator U.S. Small Cap Managed 10 Buffer ETF) and NVDO (Leverage Shares 2x Capped Accelerated NVDA Monthly ETF) are both Defined Outcome funds. Both are actively managed. At a 0.50 correlation, their price movements are largely independent. KBFR charges 0.79%/yr vs 0.77%/yr for NVDO.

Performance

KBFR vs. NVDO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Small Cap Managed 10 Buffer ETF (KBFR) and Leverage Shares 2x Capped Accelerated NVDA Monthly ETF (NVDO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

KBFR

• 1D: -1.61%
• 1M: -0.16%
• YTD: —
• 6M: —
• 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)

KBFR vs. NVDO - Yearly Performance Comparison

	2026 (YTD)
KBFR Innovator U.S. Small Cap Managed 10 Buffer ETF	3.16%
NVDO Leverage Shares 2x Capped Accelerated NVDA Monthly ETF	6.73%

Correlation

The correlation between KBFR and NVDO is 0.50, 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 Feb 25, 2026	0.50

Return for Risk

KBFR vs. NVDO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Small Cap Managed 10 Buffer ETF (KBFR) 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

	KBFR	NVDO	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.07	1.08	0.00

Drawdowns

KBFR vs. NVDO - Drawdown Comparison

The maximum KBFR drawdown since its inception was -4.18%, smaller than the maximum NVDO drawdown of -16.25%. Use the drawdown chart below to compare losses from any high point for KBFR and NVDO.

Drawdown Indicators

	KBFR	NVDO	Difference
Max Drawdown Largest peak-to-trough decline	-4.18%	-16.25%	+12.07%
Current Drawdown Current decline from peak	-1.61%	-6.14%	+4.53%
Average Drawdown Average peak-to-trough decline	-1.21%	-4.97%	+3.76%

Volatility

Volatility by Period

	KBFR	NVDO	Difference
Volatility (1Y) Calculated over the trailing 1-year period	10.95%	32.39%	-21.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.95%	32.39%	-21.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.95%	32.39%	-21.44%

KBFR vs. NVDO - Expense Ratio Comparison

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

Dividends

KBFR vs. NVDO - Dividend Comparison

KBFR's dividend yield for the trailing twelve months is around 0.11%, less than NVDO's 14.53% yield.

Position	TTM	2025
KBFR Innovator U.S. Small Cap Managed 10 Buffer ETF	0.11%	0.00%
NVDO Leverage Shares 2x Capped Accelerated NVDA Monthly ETF	14.53%	16.66%

Frequently Asked Questions

Can I hold both KBFR and NVDO in my portfolio?

KBFR and NVDO have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, KBFR 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, KBFR or NVDO?

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

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

NVDO has the higher dividend yield at 14.53%, compared with 0.11% for KBFR.

What is the main difference between KBFR and NVDO?

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