frivolity vs lunacy

frivolity and lunacy both are nouns.

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

As nouns, lunacy is a hypernym of frivolity; that is, lunacy is a word with a broader meaning than frivolity:

Other hypernyms of frivolity include craziness, folly, foolery, indulgence, tomfoolery.

frivolity (noun)	lunacy (noun)
acting like a clown or buffoon	foolish or senseless behavior
something of little value or significance	obsolete terms for legal insanity
the trait of being frivolous; not serious or sensible