BAR vs. NVD

Last updated Jul 15, 2026

BAR (GraniteShares Gold Trust) and NVD (GraniteShares 2x Short NVDA Daily ETF) are both exchange-traded funds - BAR is a Gold fund tracking the LBMA Gold Price PM ($/ozt), while NVD is a Inverse Equities fund actively managed by GraniteShares. BAR is passively managed, while NVD is actively managed. Over the past year, BAR returned 20.98% vs -56.00% for NVD. At a correlation of -0.05, they often move in opposite directions. BAR charges 0.17%/yr vs 1.50%/yr for NVD.

Performance

BAR vs. NVD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares Gold Trust (BAR) 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, BAR achieves a -6.10% return, which is significantly higher than NVD's -36.08% return.

BAR

• 1D: 1.29%
• 1M: -3.79%
• 6M: -11.69%
• YTD: -6.10%
• 1Y: 20.98%
• 3Y*: 27.28%
• 5Y*: 17.06%
• 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)

BAR vs. NVD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BAR GraniteShares Gold Trust	-6.10%	64.12%	26.97%	8.80%
NVD GraniteShares 2x Short NVDA Daily ETF	-36.08%	-73.27%	-93.09%	-15.28%

Correlation

The correlation between BAR and NVD is -0.13, 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	-0.13
Correlation (All Time) Calculated using the full available price history since Aug 22, 2023	-0.05

Return for Risk

BAR vs. NVD — Risk / Return Rank

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

BAR

BAR Risk / Return Rank: 24
BAR Sharpe Ratio Rank: 26
BAR Sortino Ratio Rank: 24
BAR Omega Ratio Rank: 28
BAR Calmar Ratio Rank: 22
BAR Martin Ratio Rank: 21

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.

BAR vs. NVD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares Gold Trust (BAR) 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.

	BAR	NVD	Difference
Sharpe ratio: Return per unit of total volatility	0.76	-0.78	+1.54
Sortino ratio: Return per unit of downside risk	1.11	-1.05	+2.16
Omega ratio: Gain probability vs. loss probability	1.16	0.88	+0.28
Calmar ratio: Return relative to maximum drawdown	0.81	-0.93	+1.74
Martin ratio: Return relative to average drawdown	1.95	-1.73	+3.68

BAR vs. NVD - Sharpe Ratio Comparison

The current BAR Sharpe Ratio is 0.76, which is higher than the NVD Sharpe Ratio of -0.78. The chart below compares the historical Sharpe Ratios of BAR 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

BAR vs. NVD - Drawdown Comparison

The maximum BAR drawdown since its inception was -26.15%, smaller than the maximum NVD drawdown of -99.26%. Use the drawdown chart below to compare losses from any high point for BAR and NVD.

Drawdown Indicators

	BAR	NVD	Difference
Max Drawdown Largest peak-to-trough decline	-26.15%	-99.26%	+73.11%
Max Drawdown (1Y) Largest decline over 1 year	-26.15%	-60.41%	+34.26%
Max Drawdown (3Y) Largest decline over 3 years	-26.15%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-26.15%	—	—
Current Drawdown Current decline from peak	-24.94%	-99.14%	+74.20%
Average Drawdown Average peak-to-trough decline	-6.64%	-82.19%	+75.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.78%	34.65%	-23.87%

Volatility

BAR vs. NVD - Volatility Comparison

The current volatility for GraniteShares Gold Trust (BAR) is 6.92%, while GraniteShares 2x Short NVDA Daily ETF (NVD) has a volatility of 23.33%. This indicates that BAR 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

	BAR	NVD	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.92%	23.33%	-16.41%
Volatility (6M) Calculated over the trailing 6-month period	24.05%	56.20%	-32.15%
Volatility (1Y) Calculated over the trailing 1-year period	27.73%	72.15%	-44.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.29%	92.28%	-73.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.59%	92.28%	-75.69%

BAR vs. NVD - Expense Ratio Comparison

BAR has a 0.17% expense ratio, which is lower than NVD's 1.50% expense ratio.

Dividends

BAR vs. NVD - Dividend Comparison

BAR 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
BAR GraniteShares Gold Trust	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 BAR and NVD in my portfolio?

BAR and NVD have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BAR or NVD?

NVD has higher volatility (23.33%) compared to BAR (6.92%). In terms of maximum drawdown, BAR dropped -26.15% vs NVD's -99.26%.

Which ETF is better, BAR or NVD?

On 1-year performance, BAR leads with 20.98% vs -56.00% for NVD. On fees, BAR is cheaper at 0.17% per year. On volatility, BAR has been the lower-risk option at 6.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BAR or NVD?

Over the 1-year period, BAR has performed better with a 20.98% return vs -56.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BAR or NVD?

BAR is cheaper with a 0.17% expense ratio, compared with 1.50% for NVD.

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

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

What is the main difference between BAR and NVD?

BAR is categorized as Gold, while NVD is Inverse Equities. Their fees differ too: 0.17% for BAR and 1.50% for NVD.

Which has better risk-adjusted returns?

BAR currently has the higher Sharpe Ratio (0.76 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.