BMNZ vs. NVDD
BMNZ (Defiance Daily Target 2X Short BMNR ETF) and NVDD (Direxion Daily NVDA Bear 1X Shares) are both Inverse Equities funds. BMNZ is passively managed, while NVDD is actively managed. At a 0.48 correlation, their price movements are largely independent. BMNZ charges 1.31%/yr vs 1.01%/yr for NVDD.
Performance
BMNZ vs. NVDD - Performance Comparison
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Returns By Period
In the year-to-date period, BMNZ achieves a 29.97% return, which is significantly higher than NVDD's -7.95% return.
BMNZ
- 1D
- 9.79%
- 1M
- 76.32%
- YTD
- 29.97%
- 6M
- 50.80%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NVDD
- 1D
- 1.55%
- 1M
- 8.42%
- YTD
- -7.95%
- 6M
- -6.76%
- 1Y
- -24.68%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BMNZ vs. NVDD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BMNZ Defiance Daily Target 2X Short BMNR ETF | 29.97% | 15.30% |
NVDD Direxion Daily NVDA Bear 1X Shares | -7.95% | 3.62% |
Correlation
The correlation between BMNZ and NVDD is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 13, 2025 | 0.48 |
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Return for Risk
BMNZ vs. NVDD — Risk / Return Rank
BMNZ
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
NVDD
BMNZ vs. NVDD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short BMNR ETF (BMNZ) and Direxion Daily NVDA Bear 1X Shares (NVDD). 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.
| BMNZ | NVDD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.90 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.67 | — |
| Martin ratioReturn relative to average drawdown | — | -1.26 | — |
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Drawdowns
BMNZ vs. NVDD - Drawdown Comparison
The maximum BMNZ drawdown since its inception was -70.80%, smaller than the maximum NVDD drawdown of -88.34%. Use the drawdown chart below to compare losses from any high point for BMNZ and NVDD.
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Drawdown Indicators
| BMNZ | NVDD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.80% | -88.34% | +17.54% |
Max Drawdown (1Y)Largest decline over 1 year | — | -37.04% | — |
Current DrawdownCurrent decline from peak | -27.23% | -86.14% | +58.91% |
Average DrawdownAverage peak-to-trough decline | -50.65% | -67.36% | +16.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 19.64% | — |
Volatility
BMNZ vs. NVDD - Volatility Comparison
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Volatility by Period
| BMNZ | NVDD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 13.22% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 26.67% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 187.04% | 35.36% | +151.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 187.04% | 47.33% | +139.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 187.04% | 47.33% | +139.71% |
BMNZ vs. NVDD - Expense Ratio Comparison
BMNZ has a 1.31% expense ratio, which is higher than NVDD's 1.01% expense ratio.
Dividends
BMNZ vs. NVDD - Dividend Comparison
BMNZ has not paid dividends to shareholders, while NVDD's dividend yield for the trailing twelve months is around 3.55%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BMNZ Defiance Daily Target 2X Short BMNR ETF | 0.00% | 0.00% | 0.00% | 0.00% |
NVDD Direxion Daily NVDA Bear 1X Shares | 3.55% | 4.19% | 4.83% | 1.31% |
Frequently Asked Questions
BMNZ and NVDD 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.
On fees, NVDD is cheaper at 1.01% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NVDD is cheaper with a 1.01% expense ratio, compared with 1.31% for BMNZ.
NVDD has the higher dividend yield at 3.55%, compared with 0.00% for BMNZ.
They also come from different issuers: Defiance and Direxion. Their fees differ too: 1.31% for BMNZ and 1.01% for NVDD.
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