SPLV vs. NVDY
SPLV (Invesco S&P 500 Low Volatility ETF) and NVDY (YieldMax NVDA Option Income Strategy ETF) are both exchange-traded funds - SPLV is a S&P 500 fund tracking the S&P 500 Low Volatility Index, while NVDY is a Derivative Income fund actively managed by YieldMax. SPLV is passively managed, while NVDY is actively managed. Over the past 3 years, SPLV returned 7.54%/yr vs 54.54%/yr for NVDY. At a correlation of -0.09, they often move in opposite directions. SPLV charges 0.25%/yr vs 0.99%/yr for NVDY.
Performance
SPLV vs. NVDY - Performance Comparison
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Returns By Period
In the year-to-date period, SPLV achieves a 1.32% return, which is significantly lower than NVDY's 13.06% return.
SPLV
- 1D
- 0.08%
- 1M
- -2.50%
- YTD
- 1.32%
- 6M
- 1.06%
- 1Y
- -0.03%
- 3Y*
- 7.54%
- 5Y*
- 5.33%
- 10Y*
- 8.01%
NVDY
- 1D
- -2.22%
- 1M
- 5.54%
- YTD
- 13.06%
- 6M
- 17.67%
- 1Y
- 46.64%
- 3Y*
- 54.54%
- 5Y*
- —
- 10Y*
- —
SPLV vs. NVDY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SPLV Invesco S&P 500 Low Volatility ETF | 1.32% | 4.10% | 13.93% | 0.68% |
NVDY YieldMax NVDA Option Income Strategy ETF | 13.06% | 27.38% | 114.23% | 42.02% |
Correlation
The correlation between SPLV and NVDY is -0.26, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (All Time) Calculated using the full available price history since May 12, 2023 | -0.09 |
The correlation between SPLV and NVDY shifts across timeframes, from -0.26 (1 year) to -0.08 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
SPLV vs. NVDY — Risk / Return Rank
SPLV
NVDY
SPLV vs. NVDY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Low Volatility ETF (SPLV) and YieldMax NVDA Option Income Strategy ETF (NVDY). 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.
| SPLV | NVDY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.72 | ||
| Sortino ratioReturn per unit of downside risk | -2.23 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.29 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.00 | 3.66 | -3.66 |
| Martin ratioReturn relative to average drawdown | -0.01 | 9.00 | -9.01 |
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
| SPLV | NVDY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.00 | 1.72 | -1.72 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.43 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.52 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.68 | 1.64 | -0.96 |
Drawdowns
SPLV vs. NVDY - Drawdown Comparison
The maximum SPLV drawdown since its inception was -36.26%, which is greater than NVDY's maximum drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for SPLV and NVDY.
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Drawdown Indicators
| SPLV | NVDY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.26% | -34.08% | -2.18% |
Max Drawdown (1Y)Largest decline over 1 year | -7.41% | -12.81% | +5.40% |
Max Drawdown (3Y)Largest decline over 3 years | -9.64% | -34.08% | +24.44% |
Max Drawdown (5Y)Largest decline over 5 years | -17.26% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -36.26% | — | — |
Current DrawdownCurrent decline from peak | -6.91% | -6.66% | -0.25% |
Average DrawdownAverage peak-to-trough decline | -3.55% | -6.15% | +2.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.05% | 5.20% | -2.15% |
Volatility
SPLV vs. NVDY - Volatility Comparison
The current volatility for Invesco S&P 500 Low Volatility ETF (SPLV) is 2.97%, while YieldMax NVDA Option Income Strategy ETF (NVDY) has a volatility of 9.46%. This indicates that SPLV experiences smaller price fluctuations and is considered to be less risky than NVDY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPLV | NVDY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.97% | 9.46% | -6.49% |
Volatility (6M)Calculated over the trailing 6-month period | 6.78% | 20.68% | -13.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.78% | 27.35% | -17.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.45% | 38.24% | -25.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.36% | 38.24% | -22.88% |
SPLV vs. NVDY - Expense Ratio Comparison
SPLV has a 0.25% expense ratio, which is lower than NVDY's 0.99% expense ratio.
Dividends
SPLV vs. NVDY - Dividend Comparison
SPLV's dividend yield for the trailing twelve months is around 2.22%, less than NVDY's 61.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NVDY YieldMax NVDA Option Income Strategy ETF | 61.36% | 83.10% | 83.65% | 22.32% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPLV Invesco S&P 500 Low Volatility ETF | 2.22% | 2.04% | 1.88% | 2.45% | 2.11% | 1.51% | 2.12% | 2.08% | 2.18% | 2.03% | 2.03% | 2.28% |
Frequently Asked Questions
SPLV and NVDY have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NVDY has higher volatility (9.46%) compared to SPLV (2.97%). In terms of maximum drawdown, SPLV dropped -36.26% vs NVDY's -34.08%.
On 3-year performance, NVDY leads with 54.54% vs 7.54% for SPLV. On fees, SPLV is cheaper at 0.25% per year. On volatility, SPLV has been the lower-risk option at 2.97%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, NVDY has performed better with a 54.54% return vs 7.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPLV is cheaper with a 0.25% expense ratio, compared with 0.99% for NVDY.
NVDY has the higher dividend yield at 61.36%, compared with 2.22% for SPLV.
SPLV is categorized as S&P 500, while NVDY is Derivative Income. They also come from different issuers: Invesco and YieldMax. Their fees differ too: 0.25% for SPLV and 0.99% for NVDY.
NVDY currently has the higher Sharpe Ratio (1.72 vs -0.00), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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