ZJUL vs. NVDO

Last updated Jun 5, 2026

ZJUL (Innovator Equity Defined Protection ETF - 1 Yr July) and NVDO (Leverage Shares 2x Capped Accelerated NVDA Monthly ETF) are both Defined Outcome funds. Both are actively managed. At a 0.41 correlation, their price movements are largely independent. ZJUL charges 0.79%/yr vs 0.77%/yr for NVDO.

Performance

ZJUL vs. NVDO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Equity Defined Protection ETF - 1 Yr July (ZJUL) 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, ZJUL achieves a 2.58% return, which is significantly lower than NVDO's 20.98% return.

ZJUL

• 1D: 0.00%
• 1M: 0.57%
• YTD: 2.58%
• 6M: 2.94%
• 1Y: 7.33%
• 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)

ZJUL vs. NVDO - Yearly Performance Comparison

	2026 (YTD)	2025
ZJUL Innovator Equity Defined Protection ETF - 1 Yr July	2.58%	2.09%
NVDO Leverage Shares 2x Capped Accelerated NVDA Monthly ETF	20.98%	11.12%

Correlation

The correlation between ZJUL and NVDO is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 14, 2025	0.41

Return for Risk

ZJUL vs. NVDO — Risk / Return Rank

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

ZJUL

ZJUL Risk / Return Rank: 91
ZJUL Sharpe Ratio Rank: 87
ZJUL Sortino Ratio Rank: 93
ZJUL Omega Ratio Rank: 92
ZJUL Calmar Ratio Rank: 88
ZJUL Martin Ratio Rank: 94

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.

ZJUL vs. NVDO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Defined Protection ETF - 1 Yr July (ZJUL) 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.

	ZJUL	NVDO	Difference
Sharpe ratio: Return per unit of total volatility	2.82	—	—
Sortino ratio: Return per unit of downside risk	4.64	—	—
Omega ratio: Gain probability vs. loss probability	1.60	—	—
Calmar ratio: Return relative to maximum drawdown	5.13	—	—
Martin ratio: Return relative to average drawdown	27.92	—	—
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

	ZJUL	NVDO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.82	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.60	1.39	+0.20

Drawdowns

ZJUL vs. NVDO - Drawdown Comparison

The maximum ZJUL drawdown since its inception was -5.51%, smaller than the maximum NVDO drawdown of -16.25%. Use the drawdown chart below to compare losses from any high point for ZJUL and NVDO.

Drawdown Indicators

	ZJUL	NVDO	Difference
Max Drawdown Largest peak-to-trough decline	-5.51%	-16.25%	+10.74%
Max Drawdown (1Y) Largest decline over 1 year	-1.43%	—	—
Current Drawdown Current decline from peak	0.00%	-0.93%	+0.93%
Average Drawdown Average peak-to-trough decline	-0.47%	-4.97%	+4.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.26%	—	—

Volatility

Volatility by Period

	ZJUL	NVDO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.24%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.82%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.61%	31.91%	-29.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.64%	31.91%	-27.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.64%	31.91%	-27.27%

ZJUL vs. NVDO - Expense Ratio Comparison

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

Dividends

ZJUL vs. NVDO - Dividend Comparison

ZJUL has not paid dividends to shareholders, while NVDO's dividend yield for the trailing twelve months is around 13.77%.

Position	TTM	2025
NVDO Leverage Shares 2x Capped Accelerated NVDA Monthly ETF	13.77%	16.66%
ZJUL Innovator Equity Defined Protection ETF - 1 Yr July	0.00%	0.00%

Frequently Asked Questions

Can I hold both ZJUL and NVDO in my portfolio?

ZJUL and NVDO have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ZJUL 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, ZJUL or NVDO?

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

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

NVDO has the higher dividend yield at 13.77%, compared with 0.00% for ZJUL.

What is the main difference between ZJUL and NVDO?

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