BAR vs. NVDL

Last updated Apr 2, 2026

Compare and contrast key facts about GraniteShares Gold Trust (BAR) and GraniteShares 2x Long NVDA Daily ETF (NVDL).

BAR and NVDL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BAR is a passively managed fund by GraniteShares that tracks the performance of the LBMA Gold Price PM ($/ozt). It was launched on Aug 31, 2017. NVDL is an actively managed fund by GraniteShares. It was launched on Dec 13, 2022.

Performance

BAR vs. NVDL - Performance Comparison

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

BAR vs. NVDL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BAR GraniteShares Gold Trust	10.45%	64.12%	26.97%	12.96%	0.61%
NVDL GraniteShares 2x Long NVDA Daily ETF	-16.23%	32.57%	344.58%	432.18%	-28.32%

Returns By Period

In the year-to-date period, BAR achieves a 10.45% return, which is significantly higher than NVDL's -16.23% return.

BAR

• 1D: 1.73%
• 1M: -10.66%
• YTD: 10.45%
• 6M: 23.08%
• 1Y: 52.47%
• 3Y*: 33.99%
• 5Y*: 22.26%
• 10Y*: —

NVDL

• 1D: 1.60%
• 1M: -8.86%
• YTD: -16.23%
• 6M: -21.72%
• 1Y: 92.71%
• 3Y*: 118.73%
• 5Y*: —
• 10Y*: —

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

BAR vs. NVDL - Expense Ratio Comparison

BAR has a 0.17% expense ratio, which is lower than NVDL's 1.15% expense ratio.

NVDL

GraniteShares 2x Long NVDA Daily ETF

BAR

GraniteShares Gold Trust

Return for Risk

BAR vs. NVDL — Risk / Return Rank

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

BAR

BAR Risk / Return Rank: 86
BAR Sharpe Ratio Rank: 88
BAR Sortino Ratio Rank: 85
BAR Omega Ratio Rank: 85
BAR Calmar Ratio Rank: 86
BAR Martin Ratio Rank: 84

NVDL

NVDL Risk / Return Rank: 67
NVDL Sharpe Ratio Rank: 63
NVDL Sortino Ratio Rank: 73
NVDL Omega Ratio Rank: 63
NVDL Calmar Ratio Rank: 80
NVDL Martin Ratio Rank: 54

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. NVDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares Gold Trust (BAR) and GraniteShares 2x Long NVDA Daily ETF (NVDL). 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.

	BAR	NVDL	Difference
Sharpe ratio Return per unit of total volatility	1.91	1.14	+0.77
Sortino ratio Return per unit of downside risk	2.34	1.90	+0.44
Omega ratio Gain probability vs. loss probability	1.35	1.24	+0.11
Calmar ratio Return relative to maximum drawdown	2.72	2.30	+0.42
Martin ratio Return relative to average drawdown	9.96	5.52	+4.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BAR vs. NVDL - Sharpe Ratio Comparison

The current BAR Sharpe Ratio is 1.91, which is higher than the NVDL Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of BAR and NVDL, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BAR	NVDL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.91	1.14	+0.77
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.27	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.98	1.59	-0.61

Correlation

The correlation between BAR and NVDL is 0.02, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

BAR vs. NVDL - Dividend Comparison

Neither BAR nor NVDL has paid dividends to shareholders.

	TTM	2025	2024	2023
BAR GraniteShares Gold Trust	0.00%	0.00%	0.00%	0.00%
NVDL GraniteShares 2x Long NVDA Daily ETF	0.00%	0.00%	0.00%	11.29%

Drawdowns

BAR vs. NVDL - Drawdown Comparison

The maximum BAR drawdown since its inception was -21.53%, smaller than the maximum NVDL drawdown of -67.55%. Use the drawdown chart below to compare losses from any high point for BAR and NVDL.

Drawdown Indicators

	BAR	NVDL	Difference
Max Drawdown Largest peak-to-trough decline	-21.53%	-67.55%	+46.02%
Max Drawdown (1Y) Largest decline over 1 year	-19.19%	-42.23%	+23.04%
Max Drawdown (5Y) Largest decline over 5 years	-20.91%	—	—
Current Drawdown Current decline from peak	-11.72%	-34.75%	+23.03%
Average Drawdown Average peak-to-trough decline	-6.30%	-17.05%	+10.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.24%	17.61%	-12.37%

Volatility

BAR vs. NVDL - Volatility Comparison

The current volatility for GraniteShares Gold Trust (BAR) is 10.44%, while GraniteShares 2x Long NVDA Daily ETF (NVDL) has a volatility of 20.66%. This indicates that BAR experiences smaller price fluctuations and is considered to be less risky than NVDL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BAR	NVDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.44%	20.66%	-10.22%
Volatility (6M) Calculated over the trailing 6-month period	24.17%	51.42%	-27.25%
Volatility (1Y) Calculated over the trailing 1-year period	27.65%	81.87%	-54.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.65%	91.12%	-73.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.31%	91.12%	-74.81%