PMAU vs. NVDO

Last updated Jun 4, 2026

PMAU (PGIM S&P 500 Max Buffer ETF - August) and NVDO (Leverage Shares 2x Capped Accelerated NVDA Monthly ETF) are both Defined Outcome funds. Both are actively managed. A 0.51 correlation means they provide meaningful diversification when combined. PMAU charges 0.50%/yr vs 0.77%/yr for NVDO.

Performance

PMAU vs. NVDO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM S&P 500 Max Buffer ETF - August (PMAU) and Leverage Shares 2x Capped Accelerated NVDA Monthly ETF (NVDO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PMAU achieves a 2.95% return, which is significantly lower than NVDO's 18.85% return.

PMAU

• 1D: -0.02%
• 1M: 0.89%
• YTD: 2.95%
• 6M: 3.43%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

NVDO

• 1D: -2.46%
• 1M: 14.15%
• YTD: 18.85%
• 6M: 29.58%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

PMAU vs. NVDO - Yearly Performance Comparison

	2026 (YTD)	2025
PMAU PGIM S&P 500 Max Buffer ETF - August	2.95%	2.34%
NVDO Leverage Shares 2x Capped Accelerated NVDA Monthly ETF	18.85%	11.12%

Correlation

The correlation between PMAU and NVDO is 0.51, 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 Aug 14, 2025	0.51

Return for Risk

PMAU vs. NVDO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM S&P 500 Max Buffer ETF - August (PMAU) 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

	PMAU	NVDO	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	2.90	1.30	+1.59

Drawdowns

PMAU vs. NVDO - Drawdown Comparison

The maximum PMAU drawdown since its inception was -1.79%, smaller than the maximum NVDO drawdown of -16.25%. Use the drawdown chart below to compare losses from any high point for PMAU and NVDO.

Drawdown Indicators

	PMAU	NVDO	Difference
Max Drawdown Largest peak-to-trough decline	-1.79%	-16.25%	+14.46%
Current Drawdown Current decline from peak	-0.02%	-2.68%	+2.66%
Average Drawdown Average peak-to-trough decline	-0.17%	-4.99%	+4.82%

Volatility

Volatility by Period

	PMAU	NVDO	Difference
Volatility (1Y) Calculated over the trailing 1-year period	2.51%	31.93%	-29.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.51%	31.93%	-29.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.51%	31.93%	-29.42%

PMAU vs. NVDO - Expense Ratio Comparison

PMAU has a 0.50% expense ratio, which is lower than NVDO's 0.77% expense ratio.

Dividends

PMAU vs. NVDO - Dividend Comparison

PMAU has not paid dividends to shareholders, while NVDO's dividend yield for the trailing twelve months is around 14.02%.

Position	TTM	2025
NVDO Leverage Shares 2x Capped Accelerated NVDA Monthly ETF	14.02%	16.66%
PMAU PGIM S&P 500 Max Buffer ETF - August	0.00%	0.00%

Frequently Asked Questions

Can I hold both PMAU and NVDO in my portfolio?

PMAU and NVDO have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PMAU or NVDO?

On fees, PMAU is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PMAU or NVDO?

PMAU is cheaper with a 0.50% expense ratio, compared with 0.77% for NVDO.

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

NVDO has the higher dividend yield at 14.02%, compared with 0.00% for PMAU.

What is the main difference between PMAU and NVDO?

They also come from different issuers: PGIM and Leverage Shares. Their fees differ too: 0.50% for PMAU and 0.77% for NVDO.