NVDI.L vs. SPYY.L
NVDI.L (IncomeShares NVIDIA NVDA Options ETP) and SPYY.L (IncomeShares S&P500 Options (0DTE) ETP) are both exchange-traded funds - NVDI.L is a Options Trading fund actively managed by Leverage Shares, while SPYY.L is a Derivative Income fund actively managed by Leverage Shares. Both are actively managed. Over the past year, NVDI.L returned 19.99% vs 10.70% for SPYY.L. A 0.56 correlation means they provide meaningful diversification when combined. NVDI.L charges 0.55%/yr vs 0.45%/yr for SPYY.L.
Performance
NVDI.L vs. SPYY.L - Performance Comparison
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Returns By Period
In the year-to-date period, NVDI.L achieves a -0.43% return, which is significantly higher than SPYY.L's -3.36% return.
NVDI.L
- 1D
- 0.00%
- 1M
- 8.35%
- YTD
- -0.43%
- 6M
- 2.01%
- 1Y
- 19.99%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPYY.L
- 1D
- -0.10%
- 1M
- 2.88%
- YTD
- -3.36%
- 6M
- -2.52%
- 1Y
- 10.70%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NVDI.L vs. SPYY.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
NVDI.L IncomeShares NVIDIA NVDA Options ETP | -0.43% | 16.65% | -2.03% |
SPYY.L IncomeShares S&P500 Options (0DTE) ETP | -3.36% | 16.00% | -4.69% |
Correlation
The correlation between NVDI.L and SPYY.L is 0.56, 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 | 0.56 |
Correlation (All Time) Calculated using the full available price history since Aug 29, 2024 | 0.56 |
The correlation between NVDI.L and SPYY.L has been stable across timeframes, ranging from 0.56 to 0.56 - a consistent structural relationship.
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Return for Risk
NVDI.L vs. SPYY.L — Risk / Return Rank
NVDI.L
SPYY.L
NVDI.L vs. SPYY.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for IncomeShares NVIDIA NVDA Options ETP (NVDI.L) and IncomeShares S&P500 Options (0DTE) ETP (SPYY.L). 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.
| NVDI.L | SPYY.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.19 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.92 | 0.71 | +0.21 |
| Martin ratioReturn relative to average drawdown | 2.00 | 2.23 | -0.23 |
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
| NVDI.L | SPYY.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.62 | 0.83 | -0.22 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.11 | 0.26 | -0.16 |
Drawdowns
NVDI.L vs. SPYY.L - Drawdown Comparison
The maximum NVDI.L drawdown since its inception was -31.39%, which is greater than SPYY.L's maximum drawdown of -17.71%. Use the drawdown chart below to compare losses from any high point for NVDI.L and SPYY.L.
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Drawdown Indicators
| NVDI.L | SPYY.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.39% | -17.71% | -13.68% |
Max Drawdown (1Y)Largest decline over 1 year | -21.59% | -14.91% | -6.68% |
Current DrawdownCurrent decline from peak | -9.62% | -4.42% | -5.20% |
Average DrawdownAverage peak-to-trough decline | -10.27% | -4.76% | -5.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.98% | 4.79% | +5.19% |
Volatility
NVDI.L vs. SPYY.L - Volatility Comparison
IncomeShares NVIDIA NVDA Options ETP (NVDI.L) has a higher volatility of 10.09% compared to IncomeShares S&P500 Options (0DTE) ETP (SPYY.L) at 2.78%. This indicates that NVDI.L's price experiences larger fluctuations and is considered to be riskier than SPYY.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NVDI.L | SPYY.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.09% | 2.78% | +7.31% |
Volatility (6M)Calculated over the trailing 6-month period | 20.28% | 9.59% | +10.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.34% | 12.77% | +19.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.31% | 14.47% | +24.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.31% | 14.47% | +24.84% |
NVDI.L vs. SPYY.L - Expense Ratio Comparison
NVDI.L has a 0.55% expense ratio, which is higher than SPYY.L's 0.45% expense ratio.
Dividends
NVDI.L vs. SPYY.L - Dividend Comparison
NVDI.L's dividend yield for the trailing twelve months is around 20.63%, less than SPYY.L's 34.35% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
NVDI.L IncomeShares NVIDIA NVDA Options ETP | 20.63% | 32.04% | 2.59% |
SPYY.L IncomeShares S&P500 Options (0DTE) ETP | 34.35% | 82.07% | 2.84% |
Frequently Asked Questions
NVDI.L and SPYY.L have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPYY.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYY.L is cheaper with a 0.45% expense ratio, compared with 0.55% for NVDI.L.
NVDI.L is categorized as Options Trading, while SPYY.L is Derivative Income. Their fees differ too: 0.55% for NVDI.L and 0.45% for SPYY.L.
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