AMDL vs. NVD

Last updated Jul 15, 2026

AMDL (GraniteShares 2x Long AMD Daily ETF) and NVD (GraniteShares 2x Short NVDA Daily ETF) are both exchange-traded funds - AMDL is a Leveraged Equities fund tracking the Advanced Micro Devices, Inc. (200%), while NVD is a Inverse Equities fund actively managed by GraniteShares. AMDL is passively managed, while NVD is actively managed. Over the past year, AMDL returned 696.99% vs -56.00% for NVD. At a correlation of -0.52, they often move in opposite directions. AMDL charges 1.07%/yr vs 1.50%/yr for NVD.

Performance

AMDL vs. NVD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long AMD Daily ETF (AMDL) and GraniteShares 2x Short NVDA Daily ETF (NVD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMDL achieves a 359.74% return, which is significantly higher than NVD's -36.08% return.

AMDL

• 1D: 4.81%
• 1M: 8.09%
• 6M: 336.71%
• YTD: 359.74%
• 1Y: 696.99%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NVD

• 1D: -8.23%
• 1M: -8.96%
• 6M: -36.62%
• YTD: -36.08%
• 1Y: -56.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AMDL vs. NVD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AMDL GraniteShares 2x Long AMD Daily ETF	359.74%	103.00%	-69.97%
NVD GraniteShares 2x Short NVDA Daily ETF	-36.08%	-73.27%	-75.64%

Correlation

The correlation between AMDL and NVD is -0.48, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.48
Correlation (All Time) Calculated using the full available price history since Mar 18, 2024	-0.52

The correlation between AMDL and NVD has been stable across timeframes, ranging from -0.52 to -0.48 - a consistent structural relationship.

AMDL vs. NVD - Sectors Allocation Comparison

Sectors	AMDL	NVD
Technology	66.7%	199.6%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

AMDL vs. NVD — Risk / Return Rank

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

AMDL

AMDL Risk / Return Rank: 95
AMDL Sharpe Ratio Rank: 98
AMDL Sortino Ratio Rank: 93
AMDL Omega Ratio Rank: 92
AMDL Calmar Ratio Rank: 98
AMDL Martin Ratio Rank: 95

NVD

NVD Risk / Return Rank: 2
NVD Sharpe Ratio Rank: 3
NVD Sortino Ratio Rank: 3
NVD Omega Ratio Rank: 3
NVD Calmar Ratio Rank: 1
NVD Martin Ratio Rank: 0

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.

AMDL vs. NVD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long AMD Daily ETF (AMDL) and GraniteShares 2x Short NVDA Daily ETF (NVD). 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.

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.

	AMDL	NVD	Difference
Sharpe ratio: Return per unit of total volatility	5.13	-0.78	+5.90
Sortino ratio: Return per unit of downside risk	3.78	-1.05	+4.84
Omega ratio: Gain probability vs. loss probability	1.48	0.88	+0.60
Calmar ratio: Return relative to maximum drawdown	12.53	-0.93	+13.46
Martin ratio: Return relative to average drawdown	24.23	-1.73	+25.97

AMDL vs. NVD - Sharpe Ratio Comparison

The current AMDL Sharpe Ratio is 5.13, which is higher than the NVD Sharpe Ratio of -0.78. The chart below compares the historical Sharpe Ratios of AMDL and NVD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AMDL vs. NVD - Drawdown Comparison

The maximum AMDL drawdown since its inception was -88.63%, smaller than the maximum NVD drawdown of -99.26%. Use the drawdown chart below to compare losses from any high point for AMDL and NVD.

Drawdown Indicators

	AMDL	NVD	Difference
Max Drawdown Largest peak-to-trough decline	-88.63%	-99.26%	+10.63%
Max Drawdown (1Y) Largest decline over 1 year	-56.13%	-60.41%	+4.28%
Current Drawdown Current decline from peak	-13.61%	-99.14%	+85.53%
Average Drawdown Average peak-to-trough decline	-46.91%	-82.19%	+35.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.98%	34.65%	-5.67%

Volatility

AMDL vs. NVD - Volatility Comparison

GraniteShares 2x Long AMD Daily ETF (AMDL) has a higher volatility of 44.94% compared to GraniteShares 2x Short NVDA Daily ETF (NVD) at 23.33%. This indicates that AMDL's price experiences larger fluctuations and is considered to be riskier than NVD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMDL	NVD	Difference
Volatility (1M) Calculated over the trailing 1-month period	44.94%	23.33%	+21.61%
Volatility (6M) Calculated over the trailing 6-month period	106.40%	56.20%	+50.20%
Volatility (1Y) Calculated over the trailing 1-year period	137.30%	72.15%	+65.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	119.22%	92.28%	+26.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	119.22%	92.28%	+26.94%

AMDL vs. NVD - Expense Ratio Comparison

AMDL has a 1.07% expense ratio, which is lower than NVD's 1.50% expense ratio.

Dividends

AMDL vs. NVD - Dividend Comparison

AMDL has not paid dividends to shareholders, while NVD's dividend yield for the trailing twelve months is around 18.50%.

Position	TTM	2025	2024	2023
AMDL GraniteShares 2x Long AMD Daily ETF	0.00%	0.00%	0.00%	0.00%
NVD GraniteShares 2x Short NVDA Daily ETF	18.50%	11.83%	8.68%	15.78%

Frequently Asked Questions

Can I hold both AMDL and NVD in my portfolio?

AMDL and NVD have a correlation of -0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AMDL or NVD?

AMDL has higher volatility (44.94%) compared to NVD (23.33%). In terms of maximum drawdown, AMDL dropped -88.63% vs NVD's -99.26%.

Which ETF is better, AMDL or NVD?

On 1-year performance, AMDL leads with 696.99% vs -56.00% for NVD. On fees, AMDL is cheaper at 1.07% per year. On volatility, NVD has been the lower-risk option at 23.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AMDL or NVD?

Over the 1-year period, AMDL has performed better with a 696.99% return vs -56.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AMDL or NVD?

AMDL is cheaper with a 1.07% expense ratio, compared with 1.50% for NVD.

Which ETF pays a higher dividend yield, AMDL or NVD?

NVD has the higher dividend yield at 18.50%, compared with 0.00% for AMDL.

What is the main difference between AMDL and NVD?

AMDL is categorized as Leveraged Equities, while NVD is Inverse Equities. Their fees differ too: 1.07% for AMDL and 1.50% for NVD.

Which has better risk-adjusted returns?

AMDL currently has the higher Sharpe Ratio (5.12 vs -0.78), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.