NVDO vs. PMAY
NVDO (Leverage Shares 2x Capped Accelerated NVDA Monthly ETF) and PMAY (Innovator U.S. Equity Power Buffer ETF - May) are both Defined Outcome funds. NVDO is actively managed, while PMAY is passively managed. At a 0.47 correlation, their price movements are largely independent. NVDO charges 0.77%/yr vs 0.79%/yr for PMAY.
Performance
NVDO vs. PMAY - Performance Comparison
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Returns By Period
In the year-to-date period, NVDO achieves a 16.35% return, which is significantly higher than PMAY's 4.57% return.
NVDO
- 1D
- 0.00%
- 1M
- 1.48%
- 6M
- 16.25%
- YTD
- 16.35%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PMAY
- 1D
- -0.50%
- 1M
- 0.71%
- 6M
- 4.15%
- YTD
- 4.57%
- 1Y
- 9.09%
- 3Y*
- 11.31%
- 5Y*
- 6.95%
- 10Y*
- —
NVDO vs. PMAY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NVDO Leverage Shares 2x Capped Accelerated NVDA Monthly ETF | 16.35% | 10.05% |
PMAY Innovator U.S. Equity Power Buffer ETF - May | 4.57% | 3.19% |
Correlation
The correlation between NVDO and PMAY is 0.47, 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 Aug 13, 2025 | 0.47 |
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Return for Risk
NVDO vs. PMAY — Risk / Return Rank
NVDO
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
PMAY
NVDO vs. PMAY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2x Capped Accelerated NVDA Monthly ETF (NVDO) and Innovator U.S. Equity Power Buffer ETF - May (PMAY). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| NVDO | PMAY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.48 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 4.95 | — |
| Martin ratioReturn relative to average drawdown | — | 23.93 | — |
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Drawdowns
NVDO vs. PMAY - Drawdown Comparison
The maximum NVDO drawdown since its inception was -16.25%, which is greater than PMAY's maximum drawdown of -13.05%. Use the drawdown chart below to compare losses from any high point for NVDO and PMAY.
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Drawdown Indicators
| NVDO | PMAY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.25% | -13.05% | -3.20% |
Max Drawdown (1Y)Largest decline over 1 year | — | -1.85% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -9.43% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -13.05% | — |
Current DrawdownCurrent decline from peak | -4.73% | -0.50% | -4.23% |
Average DrawdownAverage peak-to-trough decline | -4.96% | -2.08% | -2.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.38% | — |
Volatility
NVDO vs. PMAY - Volatility Comparison
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Volatility by Period
| NVDO | PMAY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.92% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 3.66% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 31.20% | 4.24% | +26.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.20% | 8.69% | +22.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.20% | 8.39% | +22.81% |
NVDO vs. PMAY - Expense Ratio Comparison
NVDO has a 0.77% expense ratio, which is lower than PMAY's 0.79% expense ratio.
Dividends
NVDO vs. PMAY - Dividend Comparison
NVDO's dividend yield for the trailing twelve months is around 14.32%, while PMAY has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
NVDO Leverage Shares 2x Capped Accelerated NVDA Monthly ETF | 14.32% | 16.66% |
PMAY Innovator U.S. Equity Power Buffer ETF - May | 0.00% | 0.00% |
Frequently Asked Questions
NVDO and PMAY have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
NVDO is cheaper with a 0.77% expense ratio, compared with 0.79% for PMAY.
NVDO has the higher dividend yield at 14.32%, compared with 0.00% for PMAY.
They also come from different issuers: Leverage Shares and Innovator. Their fees differ too: 0.77% for NVDO and 0.79% for PMAY.
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