EFU vs. NVDG

Last updated Aug 4, 2026

EFU (ProShares UltraShort MSCI EAFE) and NVDG (Leverage Shares 2X Long NVDA Daily ETF) are both Leveraged Equities funds. EFU is passively managed, while NVDG is actively managed. Over the past year, EFU returned -35.56% vs 10.44% for NVDG. Their -0.38 correlation means they have often moved in opposite directions in the past. EFU charges 0.95%/yr vs 0.75%/yr for NVDG.

Performance

EFU vs. NVDG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort MSCI EAFE (EFU) 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, EFU achieves a -21.36% return, which is significantly lower than NVDG's 5.32% return.

EFU

• 1D: -0.66%
• 1M: -3.30%
• 6M: -12.53%
• YTD: -21.36%
• 1Y: -35.56%
• 3Y*: -25.18%
• 5Y*: -16.16%
• 10Y*: -19.65%
• ALL TIME*: -19.09%

NVDG

• 1D: 5.70%
• 1M: 10.50%
• 6M: 8.19%
• YTD: 5.32%
• 1Y: 10.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 22.15%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EFU ProShares UltraShort MSCI EAFE	$26.57K	$37.75K	$56.26K
NVDG Leverage Shares 2X Long NVDA Daily ETF	$3.04M	$4.02M	$6.35M

EFU vs. NVDG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EFU ProShares UltraShort MSCI EAFE	-21.36%	-41.07%	7.11%
NVDG Leverage Shares 2X Long NVDA Daily ETF	5.32%	32.45%	-0.52%

Correlation

The correlation between EFU and NVDG is -0.40, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.40
Correlation (All Time) Calculated using the full available price history since Dec 13, 2024	-0.38

Return for Risk

EFU vs. NVDG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

EFU

EFU Risk / Return Rank: 1
EFU Sharpe Ratio Rank: 1
EFU Sortino Ratio Rank: 2
EFU Omega Ratio Rank: 1
EFU Calmar Ratio Rank: 0
EFU Martin Ratio Rank: 0

NVDG

NVDG Risk / Return Rank: 17
NVDG Sharpe Ratio Rank: 14
NVDG Sortino Ratio Rank: 21
NVDG Omega Ratio Rank: 19
NVDG Calmar Ratio Rank: 15
NVDG Martin Ratio Rank: 14

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

EFU vs. NVDG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort MSCI EAFE (EFU) 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.

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.

	EFU	NVDG	Difference
Sharpe ratio: Return per unit of total volatility	-1.10	0.15	-1.24
Sortino ratio: Return per unit of downside risk	-1.60	0.72	-2.32
Omega ratio: Gain probability vs. loss probability	0.82	1.08	-0.27
Calmar ratio: Return relative to maximum drawdown	-1.04	0.25	-1.29
Martin ratio: Return relative to average drawdown	-1.67	0.48	-2.14

EFU vs. NVDG - Sharpe Ratio Comparison

The current EFU Sharpe Ratio is -1.10, which is lower than the NVDG Sharpe Ratio of 0.15. The chart below compares the historical Sharpe Ratios of EFU 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.

Drawdowns

EFU vs. NVDG - Drawdown Comparison

The maximum EFU drawdown since its inception was -99.39%, which is greater than NVDG's maximum drawdown of -66.19%. Use the drawdown chart below to compare losses from any high point for EFU and NVDG.

Drawdown Indicators

	EFU	NVDG	Difference
Max Drawdown Largest peak-to-trough decline	-99.39%	-66.19%	-33.20%
Max Drawdown (1Y) Largest decline over 1 year	-34.17%	-42.72%	+8.55%
Max Drawdown (3Y) Largest decline over 3 years	-65.69%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-76.39%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-89.39%	—	—
Current Drawdown Current decline from peak	-99.39%	-27.68%	-71.71%
Average Drawdown Average peak-to-trough decline	-87.22%	-23.53%	-63.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.06%	22.03%	+1.03%

Volatility

EFU vs. NVDG - Volatility Comparison

The current volatility for ProShares UltraShort MSCI EAFE (EFU) is 9.16%, while Leverage Shares 2X Long NVDA Daily ETF (NVDG) has a volatility of 24.88%. This indicates that EFU 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

	EFU	NVDG	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.16%	24.88%	-15.72%
Volatility (6M) Calculated over the trailing 6-month period	28.75%	56.20%	-27.45%
Volatility (1Y) Calculated over the trailing 1-year period	32.55%	72.40%	-39.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.67%	89.75%	-56.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.62%	89.75%	-56.13%

EFU vs. NVDG - Expense Ratio Comparison

EFU has a 0.95% expense ratio, which is higher than NVDG's 0.75% expense ratio.

Dividends

EFU vs. NVDG - Dividend Comparison

EFU's dividend yield for the trailing twelve months is around 5.21%, less than NVDG's 11.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
EFU ProShares UltraShort MSCI EAFE	5.21%	5.57%	3.87%	6.41%	1.47%	0.00%	0.06%	0.95%	0.17%
NVDG Leverage Shares 2X Long NVDA Daily ETF	11.22%	11.81%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EFU and NVDG in my portfolio?

EFU and NVDG have a correlation of -0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EFU or NVDG?

NVDG has higher volatility (24.88%) compared to EFU (9.16%). In terms of maximum drawdown, EFU dropped -99.39% vs NVDG's -66.19%.

Which ETF is better, EFU or NVDG?

On 1-year performance, NVDG leads with 10.44% vs -35.56% for EFU. On fees, NVDG is cheaper at 0.75% per year. On volatility, EFU has been the lower-risk option at 9.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EFU or NVDG?

Over the 1-year period, NVDG has performed better with a 10.44% return vs -35.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EFU or NVDG?

NVDG is cheaper with a 0.75% expense ratio, compared with 0.95% for EFU.

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

NVDG has the higher dividend yield at 11.22%, compared with 5.21% for EFU.

What is the main difference between EFU and NVDG?

They also come from different issuers: ProShares and Leverage Shares. Their fees differ too: 0.95% for EFU and 0.75% for NVDG.

Which has better risk-adjusted returns?

NVDG currently has the higher Sharpe Ratio (0.15 vs -1.10), 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.