HDLB vs. NVDY
HDLB (ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B) and NVDY (YieldMax NVDA Option Income Strategy ETF) are both exchange-traded funds - HDLB is a Leveraged Equities fund tracking the Solactive US High Dividend Low Volatility (USD)(TR) (200%), while NVDY is a Derivative Income fund actively managed by YieldMax. HDLB is passively managed, while NVDY is actively managed. Over the past 3 years, HDLB returned 26.82%/yr vs 54.54%/yr for NVDY. At a correlation of -0.10, they often move in opposite directions. HDLB charges 1.65%/yr vs 0.99%/yr for NVDY.
Performance
HDLB vs. NVDY - Performance Comparison
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Returns By Period
In the year-to-date period, HDLB achieves a 9.69% return, which is significantly lower than NVDY's 13.06% return.
HDLB
- 1D
- -1.72%
- 1M
- -4.18%
- YTD
- 9.69%
- 6M
- 8.78%
- 1Y
- 17.78%
- 3Y*
- 26.82%
- 5Y*
- 11.24%
- 10Y*
- —
NVDY
- 1D
- -2.22%
- 1M
- 5.54%
- YTD
- 13.06%
- 6M
- 17.67%
- 1Y
- 46.64%
- 3Y*
- 54.54%
- 5Y*
- —
- 10Y*
- —
HDLB vs. NVDY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HDLB ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B | 9.69% | 27.26% | 28.21% | 12.65% |
NVDY YieldMax NVDA Option Income Strategy ETF | 13.06% | 27.38% | 114.23% | 42.02% |
Correlation
The correlation between HDLB and NVDY is -0.22, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since May 12, 2023 | -0.10 |
The correlation between HDLB and NVDY shifts across timeframes, from -0.22 (1 year) to -0.10 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HDLB vs. NVDY — Risk / Return Rank
HDLB
NVDY
HDLB vs. NVDY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B (HDLB) and YieldMax NVDA Option Income Strategy ETF (NVDY). 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.
| HDLB | NVDY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.04 | ||
| Sortino ratioReturn per unit of downside risk | -1.18 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.29 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.23 | 3.66 | -2.43 |
| Martin ratioReturn relative to average drawdown | 2.69 | 9.00 | -6.31 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HDLB | NVDY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.68 | 1.72 | -1.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.37 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.10 | 1.64 | -1.54 |
Drawdowns
HDLB vs. NVDY - Drawdown Comparison
The maximum HDLB drawdown since its inception was -78.70%, which is greater than NVDY's maximum drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for HDLB and NVDY.
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Drawdown Indicators
| HDLB | NVDY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.70% | -34.08% | -44.62% |
Max Drawdown (1Y)Largest decline over 1 year | -14.50% | -12.81% | -1.69% |
Max Drawdown (3Y)Largest decline over 3 years | -22.46% | -34.08% | +11.62% |
Max Drawdown (5Y)Largest decline over 5 years | -43.81% | — | — |
Current DrawdownCurrent decline from peak | -14.15% | -6.66% | -7.49% |
Average DrawdownAverage peak-to-trough decline | -27.47% | -6.15% | -21.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.62% | 5.20% | +1.42% |
Volatility
HDLB vs. NVDY - Volatility Comparison
The current volatility for ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B (HDLB) is 6.21%, while YieldMax NVDA Option Income Strategy ETF (NVDY) has a volatility of 9.46%. This indicates that HDLB experiences smaller price fluctuations and is considered to be less risky than NVDY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HDLB | NVDY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.21% | 9.46% | -3.25% |
Volatility (6M)Calculated over the trailing 6-month period | 18.14% | 20.68% | -2.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.46% | 27.35% | -0.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.55% | 38.24% | -7.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.58% | 38.24% | +5.34% |
HDLB vs. NVDY - Expense Ratio Comparison
HDLB has a 1.65% expense ratio, which is higher than NVDY's 0.99% expense ratio.
Dividends
HDLB vs. NVDY - Dividend Comparison
HDLB's dividend yield for the trailing twelve months is around 12.13%, less than NVDY's 61.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
HDLB ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B | 12.13% | 12.20% | 10.09% | 12.36% | 10.86% | 8.07% | 16.23% | 0.97% |
NVDY YieldMax NVDA Option Income Strategy ETF | 61.36% | 83.10% | 83.65% | 22.32% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HDLB and NVDY have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NVDY has higher volatility (9.46%) compared to HDLB (6.21%). In terms of maximum drawdown, HDLB dropped -78.70% vs NVDY's -34.08%.
On 3-year performance, NVDY leads with 54.54% vs 26.82% for HDLB. On fees, NVDY is cheaper at 0.99% per year. On volatility, HDLB has been the lower-risk option at 6.21%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, NVDY has performed better with a 54.54% return vs 26.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NVDY is cheaper with a 0.99% expense ratio, compared with 1.65% for HDLB.
NVDY has the higher dividend yield at 61.36%, compared with 12.13% for HDLB.
HDLB is categorized as Leveraged Equities, while NVDY is Derivative Income. They also come from different issuers: UBS and YieldMax. Their fees differ too: 1.65% for HDLB and 0.99% for NVDY.
NVDY currently has the higher Sharpe Ratio (1.72 vs 0.68), 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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