- Issuer
- Direxion
- Inception Date
- Sep 12, 2023
- Region
- North America (U.S.)
- Category
- Inverse Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Assets Under Management
- $18M
Share Price Chart
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Performance
NVDD Performance Chart
Direxion Daily NVDA Bear 1X Shares (NVDD) is down 13.5% since the beginning of the year. NVDD is currently trading at $33 per share.
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Returns By Period
Direxion Daily NVDA Bear 1X Shares (NVDD) has returned -13.53% so far this year and -34.19% over the past 12 months.
Direxion Daily NVDA Bear 1X Shares
- 1D
- 1.07%
- 1M
- 2.11%
- YTD
- -13.53%
- 6M
- -14.80%
- 1Y
- -34.19%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
NVDD Monthly Returns History
Based on dividend-adjusted daily data since Sep 13, 2023, NVDD's average daily return is -0.23%, while the average monthly return is -5.04%.
Historically, 35% of months were positive and 65% were negative. The best month was Nov 2025 with a return of +13.5%, while the worst month was Feb 2024 at -24.8%. The longest winning streak lasted 2 consecutive months, and the longest losing streak was 5 months.
On a daily basis, NVDD closed higher 45% of trading days. The best single day was Jan 27, 2025 with a return of +16.6%, while the worst single day was Apr 9, 2025 at -18.3%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -2.43% | 7.03% | 1.12% | -13.17% | -6.01% | 0.33% | -13.53% | ||||||
| 2025 | 6.49% | -5.22% | 12.49% | -5.90% | -19.83% | -14.60% | -10.94% | 1.93% | -6.58% | -8.25% | 13.53% | -5.17% | -38.72% |
| 2024 | -19.82% | -24.78% | -13.31% | 2.26% | -22.38% | -12.67% | 1.64% | -4.72% | -3.26% | -9.25% | -4.50% | 2.72% | -69.77% |
| 2023 | 4.38% | 5.78% | -12.95% | -5.29% | -8.97% |
Benchmark Metrics
Direxion Daily NVDA Bear 1X Shares has an annualized alpha of -15.53%, beta of -2.09, and R2 of 0.46 versus S&P 500 Index. Calculated based on daily prices since September 13, 2023.
- This ETF tended to rise when S&P 500 Index fell (downside capture of -34.02%), but participation in market rallies was also limited (-119.40%) - a profile typical of counter-cyclical assets.
- Beta of -2.09 may look defensive, but with R2 of 0.46 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.46 means the benchmark explains less than half of this ETF's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- -15.53%
- Beta
- -2.09
- R²
- 0.46
- Upside Capture
- -119.40%
- Downside Capture
- -34.02%
Expense Ratio
NVDD has a high expense ratio of 1.01%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
NVDD ranks 2 for risk / return — in the bottom 2% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Direxion Daily NVDA Bear 1X Shares (NVDD) and compare them to S&P 500 Index.
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.
| NVDD | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.01 | ||
| Sortino ratioReturn per unit of downside risk | -4.13 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.37 | -0.52 |
| Calmar ratioReturn relative to maximum drawdown | -0.84 | 2.78 | -3.62 |
| Martin ratioReturn relative to average drawdown | -1.42 | 12.44 | -13.86 |
Dividends
Dividend History
Direxion Daily NVDA Bear 1X Shares provided a 4.14% dividend yield over the last twelve months, with an annual payout of $1.36 per share.
| Period | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Dividend | $1.36 | $1.61 | $3.13 | $2.92 |
Dividend yield | 4.14% | 4.19% | 4.83% | 1.31% |
Monthly Dividends
The table displays the monthly dividend distributions for Direxion Daily NVDA Bear 1X Shares. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.26 | $0.00 | $0.00 | $0.00 | $0.26 | ||||||
| 2025 | $0.00 | $0.00 | $0.50 | $0.00 | $0.00 | $0.41 | $0.00 | $0.00 | $0.36 | $0.00 | $0.00 | $0.34 | $1.61 |
| 2024 | $0.00 | $0.00 | $1.20 | $0.00 | $0.00 | $0.47 | $0.00 | $0.00 | $0.73 | $0.00 | $0.00 | $0.73 | $3.13 |
| 2023 | $2.92 | $2.92 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Direxion Daily NVDA Bear 1X Shares. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Direxion Daily NVDA Bear 1X Shares was 88.34%, occurring on May 14, 2026. The portfolio has not yet recovered.
The current Direxion Daily NVDA Bear 1X Shares drawdown is 86.98%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 bear market2026 | -88.34%May 2026 | 2y 6mo | — | 2y 8moOct 2023 - now |
2023 correction2023 | -12.53%Oct 2023 | 20d | 14d | 1mo 4dSep 2023 - Oct 2023 |
2023 pullback2023 | -0.43%Sep 2023 | 1d | 1d | 2dSep 2023 - Sep 2023 |
2023 pullback2023 | -0.02%Sep 2023 | 0s | 1d | 1dSep 2023 - Sep 2023 |
Drawdown Indicators
| NVDD | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.34% | -56.78% | -31.56% |
Max Drawdown (1Y)Largest decline over 1 year | -40.97% | -9.10% | -31.87% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -86.98% | -1.80% | -85.18% |
Average DrawdownAverage peak-to-trough decline | -67.28% | -10.71% | -56.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.25% | 2.03% | +22.22% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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