UDEC vs. NVDO
UDEC (Innovator U.S. Equity Ultra Buffer ETF - December) and NVDO (Leverage Shares 2x Capped Accelerated NVDA Monthly ETF) are both Defined Outcome funds. UDEC is passively managed, while NVDO is actively managed. Their 0.52 correlation means they have sometimes moved together and sometimes differently. UDEC charges 0.79%/yr vs 0.77%/yr for NVDO.
Performance
UDEC vs. NVDO - Performance Comparison
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Returns By Period
In the year-to-date period, UDEC achieves a 6.52% return, which is significantly lower than NVDO's 16.35% return.
UDEC
- 1D
- 0.47%
- 1M
- 1.33%
- 6M
- 5.40%
- YTD
- 6.52%
- 1Y
- 15.43%
- 3Y*
- 11.63%
- 5Y*
- 7.38%
- 10Y*
- —
- ALL TIME*
- 7.30%
NVDO
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 13.52%
- YTD
- 16.35%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $24.01K | |
| $499.11K | $383.21K | $1.53M |
UDEC vs. NVDO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
UDEC Innovator U.S. Equity Ultra Buffer ETF - December | 6.52% | 5.90% |
NVDO Leverage Shares 2x Capped Accelerated NVDA Monthly ETF | 16.35% | 10.05% |
Correlation
The correlation between UDEC and NVDO is 0.52, 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 Aug 13, 2025 | 0.52 |
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Return for Risk
UDEC vs. NVDO — Risk / Return Rank
UDEC
NVDO
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
UDEC vs. NVDO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Ultra Buffer ETF - December (UDEC) 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.
| UDEC | NVDO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.46 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.49 | — | — |
| Martin ratioReturn relative to average drawdown | 16.73 | — | — |
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Drawdowns
UDEC vs. NVDO - Drawdown Comparison
The maximum UDEC drawdown since its inception was -13.37%, smaller than the maximum NVDO drawdown of -16.25%. Use the drawdown chart below to compare losses from any high point for UDEC and NVDO.
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Drawdown Indicators
| UDEC | NVDO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.37% | -16.25% | +2.88% |
Max Drawdown (1Y)Largest decline over 1 year | -4.44% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -8.94% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -10.26% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -4.73% | +4.73% |
Average DrawdownAverage peak-to-trough decline | -2.12% | -4.94% | +2.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | — | — |
Volatility
UDEC vs. NVDO - Volatility Comparison
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Volatility by Period
| UDEC | NVDO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.81% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 4.63% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 6.61% | 30.22% | -23.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.27% | 30.22% | -22.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.98% | 30.22% | -22.24% |
UDEC vs. NVDO - Expense Ratio Comparison
UDEC has a 0.79% expense ratio, which is higher than NVDO's 0.77% expense ratio.
Dividends
UDEC vs. NVDO - Dividend Comparison
UDEC has not paid dividends to shareholders, while NVDO's dividend yield for the trailing twelve months is around 14.32%.
| Position | TTM | 2025 |
|---|---|---|
NVDO Leverage Shares 2x Capped Accelerated NVDA Monthly ETF | 14.32% | 16.66% |
UDEC Innovator U.S. Equity Ultra Buffer ETF - December | 0.00% | 0.00% |
Frequently Asked Questions
UDEC and NVDO have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
NVDO is cheaper with a 0.77% expense ratio, compared with 0.79% for UDEC.
NVDO has the higher dividend yield at 14.32%, compared with 0.00% for UDEC.
They also come from different issuers: Innovator and Leverage Shares. Their fees differ too: 0.79% for UDEC and 0.77% for NVDO.
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