FLYD vs. NVDS
FLYD (MicroSectors Travel -3X Inverse Leveraged ETNs) and NVDS (Tradr 1.25X NVDA Bear Daily ETF) are both Inverse Equities funds - FLYD tracks the MerQube MicroSectors U.S. Travel Index while NVDS tracks the NVIDIA Corporation (-125%). Both are passively managed. Over the past 3 years, FLYD returned -55.10%/yr vs -62.73%/yr for NVDS. Their 0.42 correlation means their historical movements had little consistent relationship. FLYD charges 0.95%/yr vs 1.15%/yr for NVDS.
Performance
FLYD vs. NVDS - Performance Comparison
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Returns By Period
In the year-to-date period, FLYD achieves a -35.79% return, which is significantly lower than NVDS's -27.10% return.
FLYD
- 1D
- -4.90%
- 1M
- -5.05%
- 6M
- -41.66%
- YTD
- -35.79%
- 1Y
- -50.80%
- 3Y*
- -55.10%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -63.67%
NVDS
- 1D
- -3.82%
- 1M
- -13.79%
- 6M
- -30.26%
- YTD
- -27.10%
- 1Y
- -34.32%
- 3Y*
- -62.73%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -69.08%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $99.59K | $120.72K | $126.93K | |
| $5.38M | $5.64M | $7.31M |
FLYD vs. NVDS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FLYD MicroSectors Travel -3X Inverse Leveraged ETNs | -35.79% | -60.42% | -54.13% | -75.14% | -42.79% |
NVDS Tradr 1.25X NVDA Bear Daily ETF | -27.10% | -58.18% | -80.03% | -83.15% | -16.72% |
Correlation
The correlation between FLYD and NVDS is 0.20, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.20 |
Correlation (3Y) Balances recent behavior with more history. | 0.33 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2022 | 0.42 |
Over the past year, the correlation between FLYD and NVDS has dropped to 0.20 - well below their long-term average of 0.42, suggesting their price drivers have been diverging.
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Return for Risk
FLYD vs. NVDS — Risk / Return Rank
FLYD
NVDS
FLYD vs. NVDS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD) and Tradr 1.25X NVDA Bear Daily ETF (NVDS). 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.
| FLYD | NVDS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 0.92 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | -0.73 | -0.16 |
| Martin ratioReturn relative to average drawdown | -1.66 | -1.39 | -0.27 |
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Drawdowns
FLYD vs. NVDS - Drawdown Comparison
The maximum FLYD drawdown since its inception was -98.52%, roughly equal to the maximum NVDS drawdown of -99.40%. Use the drawdown chart below to compare losses from any high point for FLYD and NVDS.
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Drawdown Indicators
| FLYD | NVDS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.52% | -99.40% | +0.88% |
Max Drawdown (1Y)Largest decline over 1 year | -57.09% | -47.10% | -9.99% |
Max Drawdown (3Y)Largest decline over 3 years | -94.84% | -95.83% | +0.99% |
Current DrawdownCurrent decline from peak | -98.52% | -99.33% | +0.81% |
Average DrawdownAverage peak-to-trough decline | -83.66% | -84.03% | +0.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.58% | 24.70% | +5.88% |
Volatility
FLYD vs. NVDS - Volatility Comparison
MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD) has a higher volatility of 22.74% compared to Tradr 1.25X NVDA Bear Daily ETF (NVDS) at 18.73%. This indicates that FLYD's price experiences larger fluctuations and is considered to be riskier than NVDS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLYD | NVDS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.74% | 18.73% | +4.01% |
Volatility (6M)Calculated over the trailing 6-month period | 64.36% | 42.96% | +21.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 76.85% | 54.78% | +22.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 83.52% | 68.60% | +14.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 83.52% | 68.60% | +14.92% |
FLYD vs. NVDS - Expense Ratio Comparison
FLYD has a 0.95% expense ratio, which is lower than NVDS's 1.15% expense ratio.
Dividends
FLYD vs. NVDS - Dividend Comparison
FLYD has not paid dividends to shareholders, while NVDS's dividend yield for the trailing twelve months is around 19.46%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
FLYD MicroSectors Travel -3X Inverse Leveraged ETNs | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
NVDS Tradr 1.25X NVDA Bear Daily ETF | 19.46% | 14.19% | 14.11% | 14.69% | 5.72% |
Frequently Asked Questions
FLYD and NVDS have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLYD has higher volatility (22.74%) compared to NVDS (18.73%). In terms of maximum drawdown, FLYD dropped -98.52% vs NVDS's -99.40%.
On 3-year performance, FLYD leads with -55.10% vs -62.73% for NVDS. On fees, FLYD is cheaper at 0.95% per year. On volatility, NVDS has been the lower-risk option at 18.73%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, FLYD has performed better with a -55.10% return vs -62.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLYD is cheaper with a 0.95% expense ratio, compared with 1.15% for NVDS.
NVDS has the higher dividend yield at 19.46%, compared with 0.00% for FLYD.
FLYD tracks MerQube MicroSectors U.S. Travel Index, while NVDS tracks NVIDIA Corporation (-125%). They also come from different issuers: REX and AXS. Their fees differ too: 0.95% for FLYD and 1.15% for NVDS.
NVDS currently has the higher Sharpe Ratio (-0.63 vs -0.66), 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.
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