TFJL vs. NVDO

Last updated Jun 4, 2026

TFJL (Innovator 20+ Year Treasury Bond 5 Floor ETF - Quarterly) and NVDO (Leverage Shares 2x Capped Accelerated NVDA Monthly ETF) are both Defined Outcome funds. Both are actively managed. At a 0.02 correlation, their price movements are largely independent. TFJL charges 0.79%/yr vs 0.77%/yr for NVDO.

Performance

TFJL vs. NVDO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator 20+ Year Treasury Bond 5 Floor ETF - Quarterly (TFJL) 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, TFJL achieves a -2.35% return, which is significantly lower than NVDO's 18.85% return.

TFJL

• 1D: -0.54%
• 1M: -0.05%
• YTD: -2.35%
• 6M: -4.14%
• 1Y: -2.72%
• 3Y*: -1.72%
• 5Y*: -3.76%
• 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)

TFJL vs. NVDO - Yearly Performance Comparison

	2026 (YTD)	2025
TFJL Innovator 20+ Year Treasury Bond 5 Floor ETF - Quarterly	-2.35%	-0.88%
NVDO Leverage Shares 2x Capped Accelerated NVDA Monthly ETF	18.85%	11.12%

Correlation

The correlation between TFJL and NVDO is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 14, 2025	0.02

Return for Risk

TFJL vs. NVDO — Risk / Return Rank

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

TFJL

TFJL Risk / Return Rank: 6
TFJL Sharpe Ratio Rank: 6
TFJL Sortino Ratio Rank: 5
TFJL Omega Ratio Rank: 5
TFJL Calmar Ratio Rank: 6
TFJL Martin Ratio Rank: 6

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.

TFJL vs. NVDO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator 20+ Year Treasury Bond 5 Floor ETF - Quarterly (TFJL) 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.

	TFJL	NVDO	Difference
Sharpe ratio Return per unit of total volatility	-0.33	—	—
Sortino ratio Return per unit of downside risk	-0.42	—	—
Omega ratio Gain probability vs. loss probability	0.95	—	—
Calmar ratio Return relative to maximum drawdown	-0.32	—	—
Martin ratio Return relative to average drawdown	-0.73	—	—
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

	TFJL	NVDO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.33	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.40	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.48	1.30	-1.78

Drawdowns

TFJL vs. NVDO - Drawdown Comparison

The maximum TFJL drawdown since its inception was -25.45%, which is greater than NVDO's maximum drawdown of -16.25%. Use the drawdown chart below to compare losses from any high point for TFJL and NVDO.

Drawdown Indicators

	TFJL	NVDO	Difference
Max Drawdown Largest peak-to-trough decline	-25.45%	-16.25%	-9.20%
Max Drawdown (1Y) Largest decline over 1 year	-8.50%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-12.72%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-23.45%	—	—
Current Drawdown Current decline from peak	-22.83%	-2.68%	-20.15%
Average Drawdown Average peak-to-trough decline	-15.02%	-4.99%	-10.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.74%	—	—

Volatility

Volatility by Period

	TFJL	NVDO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.99%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.67%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	8.22%	31.93%	-23.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.34%	31.93%	-22.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.03%	31.93%	-22.90%

TFJL vs. NVDO - Expense Ratio Comparison

TFJL has a 0.79% expense ratio, which is higher than NVDO's 0.77% expense ratio.

Dividends

TFJL vs. NVDO - Dividend Comparison

TFJL 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%
TFJL Innovator 20+ Year Treasury Bond 5 Floor ETF - Quarterly	0.00%	0.00%

Frequently Asked Questions

Can I hold both TFJL and NVDO in my portfolio?

TFJL and NVDO have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TFJL or NVDO?

On fees, NVDO is cheaper at 0.77% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TFJL or NVDO?

NVDO is cheaper with a 0.77% expense ratio, compared with 0.79% for TFJL.

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

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

What is the main difference between TFJL and NVDO?

They also come from different issuers: Innovator and Leverage Shares. Their fees differ too: 0.79% for TFJL and 0.77% for NVDO.