MSR vs. NVDL

Last updated Jun 30, 2026

MSR (GraniteShares Autocallable MSTR ETF) and NVDL (GraniteShares 2x Long NVDA Daily ETF) are both exchange-traded funds - MSR is a Derivative Income fund actively managed by GraniteShares, while NVDL is a Leveraged Equities fund actively managed by GraniteShares. Both are actively managed. A 0.56 correlation means they provide meaningful diversification when combined. MSR charges 1.07%/yr vs 1.05%/yr for NVDL.

Performance

MSR vs. NVDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares Autocallable MSTR ETF (MSR) and GraniteShares 2x Long NVDA Daily ETF (NVDL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MSR

• 1D: 12.47%
• 1M: -40.75%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

NVDL

• 1D: 3.05%
• 1M: -17.00%
• YTD: -3.12%
• 6M: -5.01%
• 1Y: 21.25%
• 3Y*: 89.09%
• 5Y*: —
• 10Y*: —

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

MSR vs. NVDL - Yearly Performance Comparison

	2026 (YTD)
MSR GraniteShares Autocallable MSTR ETF	-43.03%
NVDL GraniteShares 2x Long NVDA Daily ETF	-23.97%

Correlation

The correlation between MSR and NVDL is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 12, 2026	0.56

Return for Risk

MSR vs. NVDL — Risk / Return Rank

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

MSR

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

NVDL

NVDL Risk / Return Rank: 15
NVDL Sharpe Ratio Rank: 13
NVDL Sortino Ratio Rank: 18
NVDL Omega Ratio Rank: 17
NVDL Calmar Ratio Rank: 15
NVDL Martin Ratio Rank: 14

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.

MSR vs. NVDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares Autocallable MSTR ETF (MSR) 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.

	MSR	NVDL	Difference
Sharpe ratio: Return per unit of total volatility	—	0.30	—
Sortino ratio: Return per unit of downside risk	—	0.91	—
Omega ratio: Gain probability vs. loss probability	—	1.11	—
Calmar ratio: Return relative to maximum drawdown	—	0.51	—
Martin ratio: Return relative to average drawdown	—	1.08	—

Drawdowns

MSR vs. NVDL - Drawdown Comparison

The maximum MSR drawdown since its inception was -50.94%, smaller than the maximum NVDL drawdown of -67.55%. Use the drawdown chart below to compare losses from any high point for MSR and NVDL.

Drawdown Indicators

	MSR	NVDL	Difference
Max Drawdown Largest peak-to-trough decline	-50.94%	-67.55%	+16.61%
Max Drawdown (1Y) Largest decline over 1 year	—	-42.23%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-67.55%	—
Current Drawdown Current decline from peak	-44.83%	-33.93%	-10.90%
Average Drawdown Average peak-to-trough decline	-19.69%	-17.14%	-2.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	19.68%	—

Volatility

Volatility by Period

	MSR	NVDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	26.56%	—
Volatility (6M) Calculated over the trailing 6-month period	—	53.02%	—
Volatility (1Y) Calculated over the trailing 1-year period	73.91%	70.32%	+3.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	73.91%	90.28%	-16.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.91%	90.28%	-16.37%

MSR vs. NVDL - Expense Ratio Comparison

MSR has a 1.07% expense ratio, which is higher than NVDL's 1.05% expense ratio.

Dividends

MSR vs. NVDL - Dividend Comparison

MSR's dividend yield for the trailing twelve months is around 5.39%, while NVDL has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
MSR GraniteShares Autocallable MSTR ETF	5.39%	0.00%	0.00%	0.00%
NVDL GraniteShares 2x Long NVDA Daily ETF	0.00%	0.00%	0.00%	11.29%

Frequently Asked Questions

Can I hold both MSR and NVDL in my portfolio?

MSR and NVDL have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MSR or NVDL?

On fees, NVDL is cheaper at 1.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MSR or NVDL?

NVDL is cheaper with a 1.05% expense ratio, compared with 1.07% for MSR.

Which ETF pays a higher dividend yield, MSR or NVDL?

MSR has the higher dividend yield at 5.39%, compared with 0.00% for NVDL.

What is the main difference between MSR and NVDL?

MSR is categorized as Derivative Income, while NVDL is Leveraged Equities. Their fees differ too: 1.07% for MSR and 1.05% for NVDL.