SEPU vs. NVDO

Last updated Jun 6, 2026

SEPU (AllianzIM U.S. Equity Buffer15 Uncapped Sep ETF) and NVDO (Leverage Shares 2x Capped Accelerated NVDA Monthly ETF) are both Defined Outcome funds. Both are actively managed. A 0.57 correlation means they provide meaningful diversification when combined. SEPU charges 0.74%/yr vs 0.77%/yr for NVDO.

Performance

SEPU vs. NVDO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Equity Buffer15 Uncapped Sep ETF (SEPU) 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, SEPU achieves a 6.03% return, which is significantly lower than NVDO's 14.63% return.

SEPU

• 1D: -2.54%
• 1M: 0.10%
• YTD: 6.03%
• 6M: 5.65%
• 1Y: 18.78%
• 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)

SEPU vs. NVDO - Yearly Performance Comparison

	2026 (YTD)	2025
SEPU AllianzIM U.S. Equity Buffer15 Uncapped Sep ETF	6.03%	4.49%
NVDO Leverage Shares 2x Capped Accelerated NVDA Monthly ETF	14.63%	11.12%

Correlation

The correlation between SEPU and NVDO is 0.57, 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	0.57

Return for Risk

SEPU vs. NVDO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SEPU

SEPU Risk / Return Rank: 65
SEPU Sharpe Ratio Rank: 63
SEPU Sortino Ratio Rank: 61
SEPU Omega Ratio Rank: 64
SEPU Calmar Ratio Rank: 65
SEPU Martin Ratio Rank: 70

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SEPU vs. NVDO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Equity Buffer15 Uncapped Sep ETF (SEPU) 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.

	SEPU	NVDO	Difference
Sharpe ratio: Return per unit of total volatility	1.94	—	—
Sortino ratio: Return per unit of downside risk	2.63	—	—
Omega ratio: Gain probability vs. loss probability	1.35	—	—
Calmar ratio: Return relative to maximum drawdown	3.03	—	—
Martin ratio: Return relative to average drawdown	12.13	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SEPU	NVDO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.94	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.23	1.08	+0.15

Drawdowns

SEPU vs. NVDO - Drawdown Comparison

The maximum SEPU drawdown since its inception was -11.76%, smaller than the maximum NVDO drawdown of -16.25%. Use the drawdown chart below to compare losses from any high point for SEPU and NVDO.

Drawdown Indicators

	SEPU	NVDO	Difference
Max Drawdown Largest peak-to-trough decline	-11.76%	-16.25%	+4.49%
Max Drawdown (1Y) Largest decline over 1 year	-6.23%	—	—
Current Drawdown Current decline from peak	-2.73%	-6.14%	+3.41%
Average Drawdown Average peak-to-trough decline	-1.72%	-4.97%	+3.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.55%	—	—

Volatility

Volatility by Period

	SEPU	NVDO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.53%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.31%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	9.72%	32.39%	-22.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.90%	32.39%	-21.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.90%	32.39%	-21.49%

SEPU vs. NVDO - Expense Ratio Comparison

SEPU has a 0.74% expense ratio, which is lower than NVDO's 0.77% expense ratio.

Dividends

SEPU vs. NVDO - Dividend Comparison

SEPU has not paid dividends to shareholders, while NVDO's dividend yield for the trailing twelve months is around 14.53%.

Position	TTM	2025
NVDO Leverage Shares 2x Capped Accelerated NVDA Monthly ETF	14.53%	16.66%
SEPU AllianzIM U.S. Equity Buffer15 Uncapped Sep ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both SEPU and NVDO in my portfolio?

SEPU and NVDO have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SEPU or NVDO?

On fees, SEPU is cheaper at 0.74% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SEPU or NVDO?

SEPU is cheaper with a 0.74% expense ratio, compared with 0.77% for NVDO.

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

NVDO has the higher dividend yield at 14.53%, compared with 0.00% for SEPU.

What is the main difference between SEPU and NVDO?

They also come from different issuers: Allianz and Leverage Shares. Their fees differ too: 0.74% for SEPU and 0.77% for NVDO.