STEN vs. NVDO

Last updated Jun 5, 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. A 0.56 correlation means they provide meaningful diversification when combined. 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 8.04% return, which is significantly lower than NVDO's 20.98% return.

STEN

• 1D: 0.23%
• 1M: 2.98%
• YTD: 8.04%
• 6M: 8.44%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

NVDO

• 1D: 1.80%
• 1M: 17.25%
• YTD: 20.98%
• 6M: 29.71%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

STEN vs. NVDO - Yearly Performance Comparison

	2026 (YTD)	2025
STEN iShares Large Cap 10% Target Buffer Sep ETF	8.04%	2.05%
NVDO Leverage Shares 2x Capped Accelerated NVDA Monthly ETF	20.98%	6.22%

Correlation

The correlation between STEN and NVDO is 0.56, 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 Oct 2, 2025	0.56

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.

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

Sharpe Ratios by Period

	STEN	NVDO	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.70	1.39	+0.31

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	-0.07%	-0.93%	+0.86%
Average Drawdown Average peak-to-trough decline	-0.92%	-4.97%	+4.05%

Volatility

Volatility by Period

	STEN	NVDO	Difference
Volatility (1Y) Calculated over the trailing 1-year period	9.22%	31.91%	-22.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.22%	31.91%	-22.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.22%	31.91%	-22.69%

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 13.77% yield.

Position	TTM	2025
NVDO Leverage Shares 2x Capped Accelerated NVDA Monthly ETF	13.77%	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 0.56, 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 13.77%, 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.