STEN vs. NVDO

Last updated Aug 1, 2026

STEN (iShares Large Cap 10% Target Buffer Sep ETF) and NVDO (Leverage Shares 2x Capped Accelerated NVDA Monthly ETF) are both Defined Outcome funds. Both are actively managed. Their 0.54 correlation means they have sometimes moved together and sometimes differently. STEN charges 0.50%/yr vs 0.77%/yr for NVDO.

Performance

STEN vs. NVDO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Large Cap 10% Target Buffer Sep ETF (STEN) 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, STEN achieves a 8.49% return, which is significantly lower than NVDO's 16.35% return.

STEN

• 1D: 0.73%
• 1M: 0.75%
• 6M: 7.36%
• YTD: 8.49%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

NVDO

• 1D: 0.00%
• 1M: 0.00%
• 6M: 10.90%
• YTD: 16.35%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
NVDO Leverage Shares 2x Capped Accelerated NVDA Monthly ETF	$0.00	$0.00	$23.88K
STEN iShares Large Cap 10% Target Buffer Sep ETF	$12.61K	$40.38K	$88.23K

STEN vs. NVDO - Yearly Performance Comparison

	2026 (YTD)	2025
STEN iShares Large Cap 10% Target Buffer Sep ETF	8.49%	2.36%
NVDO Leverage Shares 2x Capped Accelerated NVDA Monthly ETF	16.35%	6.50%

Correlation

The correlation between STEN and NVDO is 0.54, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 1, 2025	0.54

Return for Risk

STEN vs. NVDO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Large Cap 10% Target Buffer Sep ETF (STEN) 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.

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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

STEN vs. NVDO - Drawdown Comparison

The maximum STEN drawdown since its inception was -6.21%, smaller than the maximum NVDO drawdown of -16.25%. Use the drawdown chart below to compare losses from any high point for STEN and NVDO.

Drawdown Indicators

	STEN	NVDO	Difference
Max Drawdown Largest peak-to-trough decline	-6.21%	-16.25%	+10.04%
Current Drawdown Current decline from peak	-0.25%	-4.73%	+4.48%
Average Drawdown Average peak-to-trough decline	-0.91%	-4.95%	+4.04%

Volatility

Volatility by Period

	STEN	NVDO	Difference
Volatility (1Y) Calculated over the trailing 1-year period	9.35%	30.29%	-20.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.35%	30.29%	-20.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.35%	30.29%	-20.94%

STEN vs. NVDO - Expense Ratio Comparison

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

Dividends

STEN vs. NVDO - Dividend Comparison

STEN's dividend yield for the trailing twelve months is around 0.29%, less than NVDO's 14.32% yield.

Position	TTM	2025
NVDO Leverage Shares 2x Capped Accelerated NVDA Monthly ETF	14.32%	16.66%
STEN iShares Large Cap 10% Target Buffer Sep ETF	0.29%	0.31%

Frequently Asked Questions

Can I hold both STEN and NVDO in my portfolio?

STEN and NVDO have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, STEN or NVDO?

On fees, STEN 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, STEN or NVDO?

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

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

NVDO has the higher dividend yield at 14.32%, compared with 0.29% for STEN.

What is the main difference between STEN and NVDO?

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