HIPS vs. NVDL
HIPS (GraniteShares HIPS US High Income ETF) and NVDL (GraniteShares 2x Long NVDA Daily ETF) are both exchange-traded funds - HIPS is a Diversified Portfolio fund tracking the TFMS HIPS Index, while NVDL is a Leveraged Equities fund actively managed by GraniteShares. HIPS is passively managed, while NVDL is actively managed. Over the past 3 years, HIPS returned 10.07%/yr vs 93.53%/yr for NVDL. At a 0.20 correlation, their price movements are largely independent. HIPS charges 3.19%/yr vs 1.05%/yr for NVDL.
Performance
HIPS vs. NVDL - Performance Comparison
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Returns By Period
In the year-to-date period, HIPS achieves a 2.22% return, which is significantly higher than NVDL's -2.11% return.
HIPS
- 1D
- 0.35%
- 1M
- -1.66%
- YTD
- 2.22%
- 6M
- 1.89%
- 1Y
- 5.13%
- 3Y*
- 10.07%
- 5Y*
- 3.65%
- 10Y*
- 5.73%
NVDL
- 1D
- -3.04%
- 1M
- -18.96%
- YTD
- -2.11%
- 6M
- -4.57%
- 1Y
- 27.82%
- 3Y*
- 93.53%
- 5Y*
- —
- 10Y*
- —
HIPS vs. NVDL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HIPS GraniteShares HIPS US High Income ETF | 2.22% | 1.00% | 13.71% | 16.09% | -2.53% |
NVDL GraniteShares 2x Long NVDA Daily ETF | -2.11% | 32.57% | 344.58% | 432.18% | -28.71% |
Correlation
The correlation between HIPS and NVDL 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 (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2022 | 0.20 |
The correlation between HIPS and NVDL shifts across timeframes, from 0.07 (1 year) to 0.20 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HIPS vs. NVDL — Risk / Return Rank
HIPS
NVDL
HIPS vs. NVDL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares HIPS US High Income ETF (HIPS) and GraniteShares 2x Long NVDA Daily ETF (NVDL). 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.
| HIPS | NVDL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | -0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.12 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.84 | 0.66 | +0.18 |
| Martin ratioReturn relative to average drawdown | 2.01 | 1.44 | +0.58 |
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Drawdowns
HIPS vs. NVDL - Drawdown Comparison
The maximum HIPS drawdown since its inception was -53.14%, smaller than the maximum NVDL drawdown of -67.55%. Use the drawdown chart below to compare losses from any high point for HIPS and NVDL.
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Drawdown Indicators
| HIPS | NVDL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.14% | -67.55% | +14.41% |
Max Drawdown (1Y)Largest decline over 1 year | -6.15% | -42.23% | +36.08% |
Max Drawdown (3Y)Largest decline over 3 years | -15.41% | -67.55% | +52.14% |
Max Drawdown (5Y)Largest decline over 5 years | -21.28% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -53.14% | — | — |
Current DrawdownCurrent decline from peak | -5.21% | -33.24% | +28.03% |
Average DrawdownAverage peak-to-trough decline | -7.37% | -17.10% | +9.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.56% | 19.43% | -16.87% |
Volatility
HIPS vs. NVDL - Volatility Comparison
The current volatility for GraniteShares HIPS US High Income ETF (HIPS) is 3.02%, while GraniteShares 2x Long NVDA Daily ETF (NVDL) has a volatility of 26.22%. This indicates that HIPS experiences smaller price fluctuations and is considered to be less risky than NVDL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HIPS | NVDL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.02% | 26.22% | -23.20% |
Volatility (6M)Calculated over the trailing 6-month period | 7.38% | 53.11% | -45.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.70% | 70.59% | -60.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.26% | 90.34% | -77.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.03% | 90.34% | -72.31% |
HIPS vs. NVDL - Expense Ratio Comparison
HIPS has a 3.19% expense ratio, which is higher than NVDL's 1.05% expense ratio.
Dividends
HIPS vs. NVDL - Dividend Comparison
HIPS's dividend yield for the trailing twelve months is around 11.31%, while NVDL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HIPS GraniteShares HIPS US High Income ETF | 11.31% | 11.04% | 10.04% | 10.32% | 10.76% | 8.43% | 9.50% | 6.93% | 8.66% | 7.28% | 7.20% | 8.17% |
NVDL GraniteShares 2x Long NVDA Daily ETF | 0.00% | 0.00% | 0.00% | 11.29% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HIPS and NVDL 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.
NVDL has higher volatility (26.22%) compared to HIPS (3.02%). In terms of maximum drawdown, HIPS dropped -53.14% vs NVDL's -67.55%.
On 3-year performance, NVDL leads with 93.53% vs 10.07% for HIPS. On fees, NVDL is cheaper at 1.05% per year. On volatility, HIPS has been the lower-risk option at 3.02%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, NVDL has performed better with a 93.53% return vs 10.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NVDL is cheaper with a 1.05% expense ratio, compared with 3.19% for HIPS.
HIPS has the higher dividend yield at 11.31%, compared with 0.00% for NVDL.
HIPS is categorized as Diversified Portfolio, while NVDL is Leveraged Equities. Their fees differ too: 3.19% for HIPS and 1.05% for NVDL.
HIPS currently has the higher Sharpe Ratio (0.53 vs 0.40), 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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