NBFR vs. NVDO

Last updated Jun 6, 2026

NBFR (Innovator Nasdaq-100 Managed 10 Buffer ETF) and NVDO (Leverage Shares 2x Capped Accelerated NVDA Monthly ETF) are both Defined Outcome funds. Both are actively managed. A 0.71 correlation means they provide meaningful diversification when combined. NBFR charges 0.79%/yr vs 0.77%/yr for NVDO.

Performance

NBFR vs. NVDO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Nasdaq-100 Managed 10 Buffer ETF (NBFR) and Leverage Shares 2x Capped Accelerated NVDA Monthly ETF (NVDO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

NBFR

• 1D: -4.05%
• 1M: 0.92%
• 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)

NBFR vs. NVDO - Yearly Performance Comparison

	2026 (YTD)
NBFR Innovator Nasdaq-100 Managed 10 Buffer ETF	3.19%
NVDO Leverage Shares 2x Capped Accelerated NVDA Monthly ETF	6.73%

Correlation

The correlation between NBFR and NVDO is 0.71, 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 Feb 25, 2026	0.71

Return for Risk

NBFR vs. NVDO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Nasdaq-100 Managed 10 Buffer ETF (NBFR) 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

	NBFR	NVDO	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	1.08	-0.17

Drawdowns

NBFR vs. NVDO - Drawdown Comparison

The maximum NBFR drawdown since its inception was -5.68%, smaller than the maximum NVDO drawdown of -16.25%. Use the drawdown chart below to compare losses from any high point for NBFR and NVDO.

Drawdown Indicators

	NBFR	NVDO	Difference
Max Drawdown Largest peak-to-trough decline	-5.68%	-16.25%	+10.57%
Current Drawdown Current decline from peak	-4.55%	-6.14%	+1.59%
Average Drawdown Average peak-to-trough decline	-1.33%	-4.97%	+3.64%

Volatility

Volatility by Period

	NBFR	NVDO	Difference
Volatility (1Y) Calculated over the trailing 1-year period	13.14%	32.39%	-19.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.14%	32.39%	-19.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.14%	32.39%	-19.25%

NBFR vs. NVDO - Expense Ratio Comparison

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

Dividends

NBFR vs. NVDO - Dividend Comparison

NBFR's dividend yield for the trailing twelve months is around 0.02%, less than NVDO's 14.53% yield.

Position	TTM	2025
NBFR Innovator Nasdaq-100 Managed 10 Buffer ETF	0.02%	0.00%
NVDO Leverage Shares 2x Capped Accelerated NVDA Monthly ETF	14.53%	16.66%

Frequently Asked Questions

Can I hold both NBFR and NVDO in my portfolio?

NBFR and NVDO have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NBFR 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, NBFR or NVDO?

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

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

NVDO has the higher dividend yield at 14.53%, compared with 0.02% for NBFR.

What is the main difference between NBFR and NVDO?

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