MSFD vs. NVDU

Last updated Jun 24, 2026

MSFD (Direxion Daily MSFT Bear 1X Shares) and NVDU (Direxion Daily NVDA Bull 2X Shares ETF) are both exchange-traded funds - MSFD is a Inverse Equities fund tracking the Microsoft Corporation (-100%), while NVDU is a Leveraged Equities fund actively managed by Direxion. MSFD is passively managed, while NVDU is actively managed. Over the past year, MSFD returned 26.45% vs 51.92% for NVDU. At a correlation of -0.50, they often move in opposite directions. MSFD charges 1.06%/yr vs 1.04%/yr for NVDU.

Performance

MSFD vs. NVDU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily MSFT Bear 1X Shares (MSFD) and Direxion Daily NVDA Bull 2X Shares ETF (NVDU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSFD achieves a 24.19% return, which is significantly higher than NVDU's 2.08% return.

MSFD

• 1D: -3.08%
• 1M: 9.58%
• YTD: 24.19%
• 6M: 25.23%
• 1Y: 26.45%
• 3Y*: -3.55%
• 5Y*: —
• 10Y*: —

NVDU

• 1D: -8.71%
• 1M: -16.05%
• YTD: 2.08%
• 6M: -1.18%
• 1Y: 51.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSFD vs. NVDU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MSFD Direxion Daily MSFT Bear 1X Shares	24.19%	-13.36%	-7.86%	-10.86%
NVDU Direxion Daily NVDA Bull 2X Shares ETF	2.08%	33.65%	289.29%	12.08%

Correlation

The correlation between MSFD and NVDU is -0.40, 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	-0.40
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023	-0.50

The correlation between MSFD and NVDU has been stable across timeframes, ranging from -0.50 to -0.40 - a consistent structural relationship.

Return for Risk

MSFD vs. NVDU — Risk / Return Rank

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

MSFD

MSFD Risk / Return Rank: 29
MSFD Sharpe Ratio Rank: 30
MSFD Sortino Ratio Rank: 32
MSFD Omega Ratio Rank: 32
MSFD Calmar Ratio Rank: 25
MSFD Martin Ratio Rank: 28

NVDU

NVDU Risk / Return Rank: 24
NVDU Sharpe Ratio Rank: 22
NVDU Sortino Ratio Rank: 26
NVDU Omega Ratio Rank: 25
NVDU Calmar Ratio Rank: 26
NVDU Martin Ratio Rank: 22

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.

MSFD vs. NVDU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily MSFT Bear 1X Shares (MSFD) and Direxion Daily NVDA Bull 2X Shares ETF (NVDU). 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.

	MSFD	NVDU	Difference
Sharpe ratio: Return per unit of total volatility	1.01	0.74	+0.27
Sortino ratio: Return per unit of downside risk	1.63	1.40	+0.23
Omega ratio: Gain probability vs. loss probability	1.20	1.17	+0.04
Calmar ratio: Return relative to maximum drawdown	1.14	1.23	-0.09
Martin ratio: Return relative to average drawdown	3.69	2.70	+0.99

MSFD vs. NVDU - Sharpe Ratio Comparison

The current MSFD Sharpe Ratio is 1.01, which is higher than the NVDU Sharpe Ratio of 0.74. The chart below compares the historical Sharpe Ratios of MSFD and NVDU, 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

MSFD vs. NVDU - Drawdown Comparison

The maximum MSFD drawdown since its inception was -59.90%, smaller than the maximum NVDU drawdown of -67.27%. Use the drawdown chart below to compare losses from any high point for MSFD and NVDU.

Drawdown Indicators

	MSFD	NVDU	Difference
Max Drawdown Largest peak-to-trough decline	-59.90%	-67.27%	+7.37%
Max Drawdown (1Y) Largest decline over 1 year	-23.25%	-42.27%	+19.02%
Max Drawdown (3Y) Largest decline over 3 years	-40.50%	—	—
Current Drawdown Current decline from peak	-43.99%	-30.48%	-13.51%
Average Drawdown Average peak-to-trough decline	-41.61%	-18.91%	-22.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.35%	19.30%	-11.95%

Volatility

MSFD vs. NVDU - Volatility Comparison

The current volatility for Direxion Daily MSFT Bear 1X Shares (MSFD) is 11.74%, while Direxion Daily NVDA Bull 2X Shares ETF (NVDU) has a volatility of 26.33%. This indicates that MSFD experiences smaller price fluctuations and is considered to be less risky than NVDU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSFD	NVDU	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.74%	26.33%	-14.59%
Volatility (6M) Calculated over the trailing 6-month period	22.81%	53.28%	-30.47%
Volatility (1Y) Calculated over the trailing 1-year period	26.33%	70.48%	-44.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.27%	91.03%	-64.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.27%	91.03%	-64.76%

MSFD vs. NVDU - Expense Ratio Comparison

MSFD has a 1.06% expense ratio, which is higher than NVDU's 1.04% expense ratio.

Dividends

MSFD vs. NVDU - Dividend Comparison

MSFD's dividend yield for the trailing twelve months is around 2.52%, less than NVDU's 5.68% yield.

Position	TTM	2025	2024	2023	2022
MSFD Direxion Daily MSFT Bear 1X Shares	2.52%	3.33%	4.46%	4.43%	0.74%
NVDU Direxion Daily NVDA Bull 2X Shares ETF	5.68%	5.68%	16.85%	0.63%	0.00%

Frequently Asked Questions

Can I hold both MSFD and NVDU in my portfolio?

MSFD and NVDU 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, MSFD or NVDU?

NVDU has higher volatility (26.33%) compared to MSFD (11.74%). In terms of maximum drawdown, MSFD dropped -59.90% vs NVDU's -67.27%.

Which ETF is better, MSFD or NVDU?

On 1-year performance, NVDU leads with 51.92% vs 26.45% for MSFD. On fees, NVDU is cheaper at 1.04% per year. On volatility, MSFD has been the lower-risk option at 11.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSFD or NVDU?

Over the 1-year period, NVDU has performed better with a 51.92% return vs 26.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSFD or NVDU?

NVDU is cheaper with a 1.04% expense ratio, compared with 1.06% for MSFD.

Which ETF pays a higher dividend yield, MSFD or NVDU?

NVDU has the higher dividend yield at 5.68%, compared with 2.52% for MSFD.

What is the main difference between MSFD and NVDU?

MSFD is categorized as Inverse Equities, while NVDU is Leveraged Equities. Their fees differ too: 1.06% for MSFD and 1.04% for NVDU.

Which has better risk-adjusted returns?

MSFD currently has the higher Sharpe Ratio (1.01 vs 0.74), 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.