frivolity vs levity

frivolity and levity both are nouns.

Word	Noun	Adjective	Verb	Adverb
frivolity	Yes	No	No	No
levity	Yes	No	No	No

As nouns, levity is a hyponym of frivolity; that is, levity is a word with a more specific, narrower meaning than frivolity:

Other hyponyms of frivolity include giddiness, silliness, fun, playfulness.

frivolity (noun)	levity (noun)
acting like a clown or buffoon	a manner lacking seriousness
something of little value or significance	feeling an inappropriate lack of seriousness
the trait of being frivolous; not serious or sensible