XBFR vs. NVDO

Last updated Jun 6, 2026

XBFR (Innovator Equity Managed 10 Buffer ETF) and NVDO (Leverage Shares 2x Capped Accelerated NVDA Monthly ETF) are both Defined Outcome funds. Both are actively managed. A 0.69 correlation means they provide meaningful diversification when combined. XBFR charges 0.79%/yr vs 0.77%/yr for NVDO.

Performance

XBFR vs. NVDO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Equity Managed 10 Buffer ETF (XBFR) and Leverage Shares 2x Capped Accelerated NVDA Monthly ETF (NVDO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

XBFR

• 1D: -2.13%
• 1M: 1.22%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

NVDO

• 1D: -5.25%
• 1M: 6.30%
• YTD: 14.63%
• 6M: 23.06%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XBFR vs. NVDO - Yearly Performance Comparison

	2026 (YTD)
XBFR Innovator Equity Managed 10 Buffer ETF	4.18%
NVDO Leverage Shares 2x Capped Accelerated NVDA Monthly ETF	6.73%

Correlation

The correlation between XBFR and NVDO is 0.69, 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 Feb 25, 2026	0.69

Return for Risk

XBFR vs. NVDO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Managed 10 Buffer ETF (XBFR) 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

	XBFR	NVDO	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.97	1.08	+0.89

Drawdowns

XBFR vs. NVDO - Drawdown Comparison

The maximum XBFR drawdown since its inception was -4.12%, smaller than the maximum NVDO drawdown of -16.25%. Use the drawdown chart below to compare losses from any high point for XBFR and NVDO.

Drawdown Indicators

	XBFR	NVDO	Difference
Max Drawdown Largest peak-to-trough decline	-4.12%	-16.25%	+12.13%
Current Drawdown Current decline from peak	-2.13%	-6.14%	+4.01%
Average Drawdown Average peak-to-trough decline	-1.00%	-4.97%	+3.97%

Volatility

Volatility by Period

	XBFR	NVDO	Difference
Volatility (1Y) Calculated over the trailing 1-year period	8.00%	32.39%	-24.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.00%	32.39%	-24.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.00%	32.39%	-24.39%

XBFR vs. NVDO - Expense Ratio Comparison

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

Dividends

XBFR vs. NVDO - Dividend Comparison

XBFR's dividend yield for the trailing twelve months is around 0.03%, less than NVDO's 14.53% yield.

Position	TTM	2025
NVDO Leverage Shares 2x Capped Accelerated NVDA Monthly ETF	14.53%	16.66%
XBFR Innovator Equity Managed 10 Buffer ETF	0.03%	0.00%

Frequently Asked Questions

Can I hold both XBFR and NVDO in my portfolio?

XBFR and NVDO have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XBFR 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, XBFR or NVDO?

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

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

NVDO has the higher dividend yield at 14.53%, compared with 0.03% for XBFR.

What is the main difference between XBFR and NVDO?

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