AMZZ vs. NVD

Last updated Jun 4, 2026

AMZZ (GraniteShares 2x Long AMZN Daily ETF) and NVD (GraniteShares 2x Short NVDA Daily ETF) are both exchange-traded funds - AMZZ is a Leveraged Equities fund actively managed by GraniteShares, while NVD is a Inverse Equities fund actively managed by GraniteShares. Both are actively managed. Over the past year, AMZZ returned 25.28% vs -67.15% for NVD. At a correlation of -0.44, they often move in opposite directions. AMZZ charges 1.15%/yr vs 1.50%/yr for NVD.

Performance

AMZZ vs. NVD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long AMZN Daily ETF (AMZZ) 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, AMZZ achieves a 9.44% return, which is significantly higher than NVD's -34.83% return.

AMZZ

• 1D: -5.02%
• 1M: -16.12%
• YTD: 9.44%
• 6M: 7.26%
• 1Y: 25.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NVD

• 1D: 7.13%
• 1M: -18.10%
• YTD: -34.83%
• 6M: -40.44%
• 1Y: -67.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AMZZ vs. NVD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AMZZ GraniteShares 2x Long AMZN Daily ETF	9.44%	-8.94%	38.36%
NVD GraniteShares 2x Short NVDA Daily ETF	-34.83%	-73.27%	-75.32%

Correlation

The correlation between AMZZ and NVD is -0.34, 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	-0.34
Correlation (All Time) Calculated using the full available price history since Mar 19, 2024	-0.44

The correlation between AMZZ and NVD shifts across timeframes, from -0.44 (all time) to -0.34 (1 year), reflecting how their relationship changes across market environments.

AMZZ vs. NVD - Sectors Allocation Comparison

Sectors	AMZZ	NVD
Consumer Cyclical	66.7%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	199.7%
Utilities	-	-

Return for Risk

AMZZ vs. NVD — Risk / Return Rank

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

AMZZ

AMZZ Risk / Return Rank: 17
AMZZ Sharpe Ratio Rank: 15
AMZZ Sortino Ratio Rank: 19
AMZZ Omega Ratio Rank: 19
AMZZ Calmar Ratio Rank: 16
AMZZ Martin Ratio Rank: 15

NVD

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

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.

AMZZ vs. NVD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long AMZN Daily ETF (AMZZ) 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.

	AMZZ	NVD	Difference
Sharpe ratio: Return per unit of total volatility	0.43	-0.98	+1.41
Sortino ratio: Return per unit of downside risk	0.99	-1.70	+2.69
Omega ratio: Gain probability vs. loss probability	1.12	0.81	+0.31
Calmar ratio: Return relative to maximum drawdown	0.61	-0.93	+1.53
Martin ratio: Return relative to average drawdown	1.37	-1.41	+2.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AMZZ vs. NVD - Sharpe Ratio Comparison

The current AMZZ Sharpe Ratio is 0.43, which is higher than the NVD Sharpe Ratio of -0.98. The chart below compares the historical Sharpe Ratios of AMZZ 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.

Sharpe Ratios by Period

	AMZZ	NVD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.43	-0.98	+1.41
Sharpe Ratio (All Time) Calculated using the full available price history	0.25	-0.87	+1.13

Drawdowns

AMZZ vs. NVD - Drawdown Comparison

The maximum AMZZ drawdown since its inception was -55.28%, smaller than the maximum NVD drawdown of -99.26%. Use the drawdown chart below to compare losses from any high point for AMZZ and NVD.

Drawdown Indicators

	AMZZ	NVD	Difference
Max Drawdown Largest peak-to-trough decline	-55.28%	-99.26%	+43.98%
Max Drawdown (1Y) Largest decline over 1 year	-41.97%	-72.64%	+30.67%
Current Drawdown Current decline from peak	-18.02%	-99.12%	+81.10%
Average Drawdown Average peak-to-trough decline	-20.21%	-81.65%	+61.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.49%	47.63%	-29.14%

Volatility

AMZZ vs. NVD - Volatility Comparison

The current volatility for GraniteShares 2x Long AMZN Daily ETF (AMZZ) is 14.66%, while GraniteShares 2x Short NVDA Daily ETF (NVD) has a volatility of 26.02%. This indicates that AMZZ experiences smaller price fluctuations and is considered to be less risky than NVD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMZZ	NVD	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.66%	26.02%	-11.36%
Volatility (6M) Calculated over the trailing 6-month period	40.44%	52.01%	-11.57%
Volatility (1Y) Calculated over the trailing 1-year period	59.66%	68.60%	-8.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	62.82%	92.60%	-29.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	62.82%	92.60%	-29.78%

AMZZ vs. NVD - Expense Ratio Comparison

AMZZ has a 1.15% expense ratio, which is lower than NVD's 1.50% expense ratio.

Dividends

AMZZ vs. NVD - Dividend Comparison

AMZZ has not paid dividends to shareholders, while NVD's dividend yield for the trailing twelve months is around 18.15%.

Position	TTM	2025	2024	2023
AMZZ GraniteShares 2x Long AMZN Daily ETF	0.00%	0.00%	0.00%	0.00%
NVD GraniteShares 2x Short NVDA Daily ETF	18.15%	11.83%	8.68%	15.78%

Frequently Asked Questions

Can I hold both AMZZ and NVD in my portfolio?

AMZZ and NVD have a correlation of -0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AMZZ or NVD?

NVD has higher volatility (26.02%) compared to AMZZ (14.66%). In terms of maximum drawdown, AMZZ dropped -55.28% vs NVD's -99.26%.

Which ETF is better, AMZZ or NVD?

On 1-year performance, AMZZ leads with 25.28% vs -67.15% for NVD. On fees, AMZZ is cheaper at 1.15% per year. On volatility, AMZZ has been the lower-risk option at 14.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AMZZ or NVD?

Over the 1-year period, AMZZ has performed better with a 25.28% return vs -67.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AMZZ or NVD?

AMZZ is cheaper with a 1.15% expense ratio, compared with 1.50% for NVD.

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

NVD has the higher dividend yield at 18.15%, compared with 0.00% for AMZZ.

What is the main difference between AMZZ and NVD?

AMZZ is categorized as Leveraged Equities, while NVD is Inverse Equities. Their fees differ too: 1.15% for AMZZ and 1.50% for NVD.

Which has better risk-adjusted returns?

AMZZ currently has the higher Sharpe Ratio (0.43 vs -0.98), 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.