DULL vs. NVII

Last updated Jun 4, 2026

DULL (MicroSectors Gold -3X Inverse Leveraged ETN) and NVII (REX NVDA Growth & Income ETF) are both exchange-traded funds - DULL is a Inverse Commodities fund tracking the LBMA Gold Price PM ($/ozt) (-300%), while NVII is a Derivative Income fund actively managed by REX. DULL is passively managed, while NVII is actively managed. Over the past year, DULL returned -69.39% vs 62.33% for NVII. At a correlation of -0.08, they often move in opposite directions. DULL charges 0.95%/yr vs 0.99%/yr for NVII.

Performance

DULL vs. NVII - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Gold -3X Inverse Leveraged ETN (DULL) and REX NVDA Growth & Income ETF (NVII). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DULL achieves a -29.67% return, which is significantly lower than NVII's 15.50% return.

DULL

• 1D: 2.86%
• 1M: 3.73%
• YTD: -29.67%
• 6M: -35.43%
• 1Y: -69.39%
• 3Y*: -61.47%
• 5Y*: —
• 10Y*: —

NVII

• 1D: -3.35%
• 1M: 6.25%
• YTD: 15.50%
• 6M: 18.61%
• 1Y: 62.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DULL vs. NVII - Yearly Performance Comparison

	2026 (YTD)	2025
DULL MicroSectors Gold -3X Inverse Leveraged ETN	-29.67%	-58.92%
NVII REX NVDA Growth & Income ETF	15.50%	48.28%

Correlation

The correlation between DULL and NVII is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.07
Correlation (All Time) Calculated using the full available price history since May 29, 2025	-0.08

Return for Risk

DULL vs. NVII — Risk / Return Rank

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

DULL

DULL Risk / Return Rank: 2
DULL Sharpe Ratio Rank: 2
DULL Sortino Ratio Rank: 1
DULL Omega Ratio Rank: 1
DULL Calmar Ratio Rank: 2
DULL Martin Ratio Rank: 3

NVII

NVII Risk / Return Rank: 52
NVII Sharpe Ratio Rank: 52
NVII Sortino Ratio Rank: 47
NVII Omega Ratio Rank: 46
NVII Calmar Ratio Rank: 67
NVII Martin Ratio Rank: 50

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.

DULL vs. NVII - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors Gold -3X Inverse Leveraged ETN (DULL) and REX NVDA Growth & Income ETF (NVII). 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.

	DULL	NVII	Difference
Sharpe ratio: Return per unit of total volatility	-0.89	1.83	-2.72
Sortino ratio: Return per unit of downside risk	-1.67	2.35	-4.01
Omega ratio: Gain probability vs. loss probability	0.81	1.30	-0.48
Calmar ratio: Return relative to maximum drawdown	-0.85	3.39	-4.24
Martin ratio: Return relative to average drawdown	-1.24	8.64	-9.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DULL vs. NVII - Sharpe Ratio Comparison

The current DULL Sharpe Ratio is -0.89, which is lower than the NVII Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of DULL and NVII, 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

	DULL	NVII	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.89	1.83	-2.72
Sharpe Ratio (All Time) Calculated using the full available price history	-1.05	2.04	-3.09

Drawdowns

DULL vs. NVII - Drawdown Comparison

The maximum DULL drawdown since its inception was -97.12%, which is greater than NVII's maximum drawdown of -18.47%. Use the drawdown chart below to compare losses from any high point for DULL and NVII.

Drawdown Indicators

	DULL	NVII	Difference
Max Drawdown Largest peak-to-trough decline	-97.12%	-18.47%	-78.65%
Max Drawdown (1Y) Largest decline over 1 year	-81.97%	-18.47%	-63.50%
Max Drawdown (3Y) Largest decline over 3 years	-97.12%	—	—
Current Drawdown Current decline from peak	-95.46%	-8.54%	-86.92%
Average Drawdown Average peak-to-trough decline	-59.30%	-5.50%	-53.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	56.01%	7.24%	+48.77%

Volatility

DULL vs. NVII - Volatility Comparison

MicroSectors Gold -3X Inverse Leveraged ETN (DULL) has a higher volatility of 16.82% compared to REX NVDA Growth & Income ETF (NVII) at 12.22%. This indicates that DULL's price experiences larger fluctuations and is considered to be riskier than NVII based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DULL	NVII	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.82%	12.22%	+4.60%
Volatility (6M) Calculated over the trailing 6-month period	66.66%	25.24%	+41.42%
Volatility (1Y) Calculated over the trailing 1-year period	78.11%	34.40%	+43.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	57.97%	34.54%	+23.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	57.97%	34.54%	+23.43%

DULL vs. NVII - Expense Ratio Comparison

DULL has a 0.95% expense ratio, which is lower than NVII's 0.99% expense ratio.

Dividends

DULL vs. NVII - Dividend Comparison

DULL has not paid dividends to shareholders, while NVII's dividend yield for the trailing twelve months is around 51.55%.

Position	TTM	2025
DULL MicroSectors Gold -3X Inverse Leveraged ETN	0.00%	0.00%
NVII REX NVDA Growth & Income ETF	51.55%	29.17%

Frequently Asked Questions

Can I hold both DULL and NVII in my portfolio?

DULL and NVII have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DULL or NVII?

DULL has higher volatility (16.82%) compared to NVII (12.22%). In terms of maximum drawdown, DULL dropped -97.12% vs NVII's -18.47%.

Which ETF is better, DULL or NVII?

On 1-year performance, NVII leads with 62.33% vs -69.39% for DULL. On fees, DULL is cheaper at 0.95% per year. On volatility, NVII has been the lower-risk option at 12.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DULL or NVII?

Over the 1-year period, NVII has performed better with a 62.33% return vs -69.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DULL or NVII?

DULL is cheaper with a 0.95% expense ratio, compared with 0.99% for NVII.

Which ETF pays a higher dividend yield, DULL or NVII?

NVII has the higher dividend yield at 51.55%, compared with 0.00% for DULL.

What is the main difference between DULL and NVII?

DULL is categorized as Inverse Commodities, while NVII is Derivative Income. Their fees differ too: 0.95% for DULL and 0.99% for NVII.

Which has better risk-adjusted returns?

NVII currently has the higher Sharpe Ratio (1.83 vs -0.89), 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.