DRIP vs. NVDG

Last updated Jun 4, 2026

DRIP (Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares) and NVDG (Leverage Shares 2X Long NVDA Daily ETF) are both Leveraged Equities funds. DRIP is passively managed, while NVDG is actively managed. Over the past year, DRIP returned -56.10% vs 83.14% for NVDG. At a correlation of -0.08, they often move in opposite directions. DRIP charges 1.07%/yr vs 0.75%/yr for NVDG.

Performance

DRIP vs. NVDG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) 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, DRIP achieves a -50.45% return, which is significantly lower than NVDG's 18.93% return.

DRIP

• 1D: -3.05%
• 1M: 9.61%
• YTD: -50.45%
• 6M: -43.03%
• 1Y: -56.10%
• 3Y*: -30.92%
• 5Y*: -41.62%
• 10Y*: -42.95%

NVDG

• 1D: -7.35%
• 1M: 14.07%
• YTD: 18.93%
• 6M: 26.05%
• 1Y: 83.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DRIP vs. NVDG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares	-50.45%	-14.81%	3.80%
NVDG Leverage Shares 2X Long NVDA Daily ETF	18.93%	32.45%	-0.75%

Correlation

The correlation between DRIP and NVDG is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (All Time) Calculated using the full available price history since Dec 16, 2024	-0.08

The correlation between DRIP and NVDG shifts across timeframes, from -0.08 (all time) to 0.12 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

DRIP vs. NVDG — Risk / Return Rank

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

DRIP

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

NVDG

NVDG Risk / Return Rank: 34
NVDG Sharpe Ratio Rank: 34
NVDG Sortino Ratio Rank: 35
NVDG Omega Ratio Rank: 33
NVDG Calmar Ratio Rank: 39
NVDG Martin Ratio Rank: 30

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.

DRIP vs. NVDG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) 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.

	DRIP	NVDG	Difference
Sharpe ratio: Return per unit of total volatility	-1.01	1.24	-2.25
Sortino ratio: Return per unit of downside risk	-1.71	1.87	-3.57
Omega ratio: Gain probability vs. loss probability	0.83	1.22	-0.40
Calmar ratio: Return relative to maximum drawdown	-0.88	1.96	-2.84
Martin ratio: Return relative to average drawdown	-1.64	4.44	-6.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DRIP vs. NVDG - Sharpe Ratio Comparison

The current DRIP Sharpe Ratio is -1.01, which is lower than the NVDG Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of DRIP 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.

Sharpe Ratios by Period

	DRIP	NVDG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.01	1.24	-2.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.61	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.45	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.42	0.40	-0.82

Drawdowns

DRIP vs. NVDG - Drawdown Comparison

The maximum DRIP drawdown since its inception was -99.95%, which is greater than NVDG's maximum drawdown of -66.19%. Use the drawdown chart below to compare losses from any high point for DRIP and NVDG.

Drawdown Indicators

	DRIP	NVDG	Difference
Max Drawdown Largest peak-to-trough decline	-99.95%	-66.19%	-33.76%
Max Drawdown (1Y) Largest decline over 1 year	-63.84%	-42.72%	-21.12%
Max Drawdown (3Y) Largest decline over 3 years	-76.02%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-96.24%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-99.92%	—	—
Current Drawdown Current decline from peak	-99.94%	-18.34%	-81.60%
Average Drawdown Average peak-to-trough decline	-90.45%	-23.07%	-67.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.12%	18.77%	+15.35%

Volatility

DRIP vs. NVDG - Volatility Comparison

The current volatility for Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) is 19.66%, while Leverage Shares 2X Long NVDA Daily ETF (NVDG) has a volatility of 25.14%. This indicates that DRIP 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

	DRIP	NVDG	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.66%	25.14%	-5.48%
Volatility (6M) Calculated over the trailing 6-month period	43.05%	50.15%	-7.10%
Volatility (1Y) Calculated over the trailing 1-year period	55.64%	67.81%	-12.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.36%	90.72%	-22.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	96.59%	90.72%	+5.87%

DRIP vs. NVDG - Expense Ratio Comparison

DRIP has a 1.07% expense ratio, which is higher than NVDG's 0.75% expense ratio.

Dividends

DRIP vs. NVDG - Dividend Comparison

DRIP's dividend yield for the trailing twelve months is around 3.99%, less than NVDG's 9.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares	3.99%	2.86%	4.38%	5.09%	0.00%	0.00%	0.01%	0.96%	0.58%
NVDG Leverage Shares 2X Long NVDA Daily ETF	9.93%	11.81%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DRIP and NVDG in my portfolio?

DRIP and NVDG have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DRIP or NVDG?

NVDG has higher volatility (25.14%) compared to DRIP (19.66%). In terms of maximum drawdown, DRIP dropped -99.95% vs NVDG's -66.19%.

Which ETF is better, DRIP or NVDG?

On 1-year performance, NVDG leads with 83.14% vs -56.10% for DRIP. On fees, NVDG is cheaper at 0.75% per year. On volatility, DRIP has been the lower-risk option at 19.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DRIP or NVDG?

Over the 1-year period, NVDG has performed better with a 83.14% return vs -56.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DRIP or NVDG?

NVDG is cheaper with a 0.75% expense ratio, compared with 1.07% for DRIP.

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

NVDG has the higher dividend yield at 9.93%, compared with 3.99% for DRIP.

What is the main difference between DRIP and NVDG?

They also come from different issuers: Direxion and Leverage Shares. Their fees differ too: 1.07% for DRIP and 0.75% for NVDG.

Which has better risk-adjusted returns?

NVDG currently has the higher Sharpe Ratio (1.24 vs -1.01), 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.