BABX vs. NVDG

Last updated Jun 24, 2026

BABX (GraniteShares 2x Long BABA Daily ETF) and NVDG (Leverage Shares 2X Long NVDA Daily ETF) are both Leveraged Equities funds. Both are actively managed. Over the past year, BABX returned -36.03% vs 51.22% for NVDG. At a 0.31 correlation, their price movements are largely independent. BABX charges 1.15%/yr vs 0.75%/yr for NVDG.

Performance

BABX vs. NVDG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long BABA Daily ETF (BABX) and Leverage Shares 2X Long NVDA Daily ETF (NVDG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BABX achieves a -55.91% return, which is significantly lower than NVDG's 1.66% return.

BABX

• 1D: -4.45%
• 1M: -37.51%
• YTD: -55.91%
• 6M: -58.68%
• 1Y: -36.03%
• 3Y*: -7.54%
• 5Y*: —
• 10Y*: —

NVDG

• 1D: -8.30%
• 1M: -15.70%
• YTD: 1.66%
• 6M: -1.47%
• 1Y: 51.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BABX vs. NVDG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BABX GraniteShares 2x Long BABA Daily ETF	-55.91%	123.85%	-10.46%
NVDG Leverage Shares 2X Long NVDA Daily ETF	1.66%	32.45%	-0.52%

Correlation

The correlation between BABX and NVDG is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (All Time) Calculated using the full available price history since Dec 13, 2024	0.31

Return for Risk

BABX vs. NVDG — Risk / Return Rank

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

BABX

BABX Risk / Return Rank: 6
BABX Sharpe Ratio Rank: 5
BABX Sortino Ratio Rank: 7
BABX Omega Ratio Rank: 7
BABX Calmar Ratio Rank: 5
BABX Martin Ratio Rank: 5

NVDG

NVDG Risk / Return Rank: 24
NVDG Sharpe Ratio Rank: 22
NVDG Sortino Ratio Rank: 26
NVDG Omega Ratio Rank: 25
NVDG Calmar Ratio Rank: 26
NVDG Martin Ratio Rank: 22

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.

BABX vs. NVDG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long BABA Daily ETF (BABX) and Leverage Shares 2X Long NVDA Daily ETF (NVDG). 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.

	BABX	NVDG	Difference
Sharpe ratio: Return per unit of total volatility	-0.41	0.73	-1.15
Sortino ratio: Return per unit of downside risk	-0.14	1.39	-1.53
Omega ratio: Gain probability vs. loss probability	0.99	1.17	-0.18
Calmar ratio: Return relative to maximum drawdown	-0.48	1.20	-1.69
Martin ratio: Return relative to average drawdown	-0.91	2.62	-3.54

BABX vs. NVDG - Sharpe Ratio Comparison

The current BABX Sharpe Ratio is -0.41, which is lower than the NVDG Sharpe Ratio of 0.73. The chart below compares the historical Sharpe Ratios of BABX and NVDG, 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

BABX vs. NVDG - Drawdown Comparison

The maximum BABX drawdown since its inception was -75.11%, which is greater than NVDG's maximum drawdown of -66.19%. Use the drawdown chart below to compare losses from any high point for BABX and NVDG.

Drawdown Indicators

	BABX	NVDG	Difference
Max Drawdown Largest peak-to-trough decline	-75.11%	-66.19%	-8.92%
Max Drawdown (1Y) Largest decline over 1 year	-75.11%	-42.72%	-32.39%
Max Drawdown (3Y) Largest decline over 3 years	-75.11%	—	—
Current Drawdown Current decline from peak	-75.11%	-30.20%	-44.91%
Average Drawdown Average peak-to-trough decline	-45.58%	-23.05%	-22.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	39.45%	19.59%	+19.86%

Volatility

BABX vs. NVDG - Volatility Comparison

The current volatility for GraniteShares 2x Long BABA Daily ETF (BABX) is 15.89%, while Leverage Shares 2X Long NVDA Daily ETF (NVDG) has a volatility of 26.07%. This indicates that BABX experiences smaller price fluctuations and is considered to be less risky than NVDG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BABX	NVDG	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.89%	26.07%	-10.18%
Volatility (6M) Calculated over the trailing 6-month period	58.39%	52.86%	+5.53%
Volatility (1Y) Calculated over the trailing 1-year period	87.73%	70.20%	+17.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	82.85%	90.59%	-7.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	82.85%	90.59%	-7.74%

BABX vs. NVDG - Expense Ratio Comparison

BABX has a 1.15% expense ratio, which is higher than NVDG's 0.75% expense ratio.

Dividends

BABX vs. NVDG - Dividend Comparison

BABX has not paid dividends to shareholders, while NVDG's dividend yield for the trailing twelve months is around 11.62%.

Position	TTM	2025
BABX GraniteShares 2x Long BABA Daily ETF	0.00%	0.00%
NVDG Leverage Shares 2X Long NVDA Daily ETF	11.62%	11.81%

Frequently Asked Questions

Can I hold both BABX and NVDG in my portfolio?

BABX and NVDG have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BABX or NVDG?

NVDG has higher volatility (26.07%) compared to BABX (15.89%). In terms of maximum drawdown, BABX dropped -75.11% vs NVDG's -66.19%.

Which ETF is better, BABX or NVDG?

On 1-year performance, NVDG leads with 51.22% vs -36.03% for BABX. On fees, NVDG is cheaper at 0.75% per year. On volatility, BABX has been the lower-risk option at 15.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BABX or NVDG?

Over the 1-year period, NVDG has performed better with a 51.22% return vs -36.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BABX or NVDG?

NVDG is cheaper with a 0.75% expense ratio, compared with 1.15% for BABX.

Which ETF pays a higher dividend yield, BABX or NVDG?

NVDG has the higher dividend yield at 11.62%, compared with 0.00% for BABX.

What is the main difference between BABX and NVDG?

They also come from different issuers: GraniteShares and Leverage Shares. Their fees differ too: 1.15% for BABX and 0.75% for NVDG.

Which has better risk-adjusted returns?

NVDG currently has the higher Sharpe Ratio (0.73 vs -0.41), 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.