MSTP vs. NVD
MSTP (GraniteShares 2x Long MSTR Daily ETF) and NVD (GraniteShares 2x Short NVDA Daily ETF) are both exchange-traded funds - MSTP is a Leveraged Equities fund actively managed by GraniteShares, while NVD is a Inverse Equities fund actively managed by GraniteShares. Both are actively managed. At a correlation of -0.34, they often move in opposite directions. Both charge a 1.50% expense ratio.
Performance
MSTP vs. NVD - Performance Comparison
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Returns By Period
In the year-to-date period, MSTP achieves a -52.13% return, which is significantly lower than NVD's -34.83% return.
MSTP
- 1D
- -13.74%
- 1M
- -54.90%
- YTD
- -52.13%
- 6M
- -70.05%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NVD
- 1D
- 7.13%
- 1M
- -18.10%
- YTD
- -34.83%
- 6M
- -40.44%
- 1Y
- -67.15%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MSTP vs. NVD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MSTP GraniteShares 2x Long MSTR Daily ETF | -52.13% | -88.99% |
NVD GraniteShares 2x Short NVDA Daily ETF | -34.83% | -47.63% |
Correlation
The correlation between MSTP and NVD is -0.34, 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 (All Time) Calculated using the full available price history since Jun 11, 2025 | -0.34 |
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Return for Risk
MSTP vs. NVD — Risk / Return Rank
MSTP
NVD
MSTP vs. NVD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long MSTR Daily ETF (MSTP) and GraniteShares 2x Short NVDA Daily ETF (NVD). 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| MSTP | NVD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | -0.98 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.67 | -0.87 | +0.20 |
Drawdowns
MSTP vs. NVD - Drawdown Comparison
The maximum MSTP drawdown since its inception was -96.25%, roughly equal to the maximum NVD drawdown of -99.26%. Use the drawdown chart below to compare losses from any high point for MSTP and NVD.
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Drawdown Indicators
| MSTP | NVD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.25% | -99.26% | +3.01% |
Max Drawdown (1Y)Largest decline over 1 year | — | -72.64% | — |
Current DrawdownCurrent decline from peak | -95.92% | -99.12% | +3.20% |
Average DrawdownAverage peak-to-trough decline | -68.56% | -81.65% | +13.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 47.63% | — |
Volatility
MSTP vs. NVD - Volatility Comparison
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Volatility by Period
| MSTP | NVD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 26.02% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 52.01% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 141.47% | 68.60% | +72.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 141.47% | 92.60% | +48.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 141.47% | 92.60% | +48.87% |
MSTP vs. NVD - Expense Ratio Comparison
Both MSTP and NVD have an expense ratio of 1.50%.
Dividends
MSTP vs. NVD - Dividend Comparison
MSTP has not paid dividends to shareholders, while NVD's dividend yield for the trailing twelve months is around 18.15%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
MSTP GraniteShares 2x Long MSTR Daily ETF | 0.00% | 0.00% | 0.00% | 0.00% |
NVD GraniteShares 2x Short NVDA Daily ETF | 18.15% | 11.83% | 8.68% | 15.78% |
Frequently Asked Questions
MSTP and NVD have a correlation of -0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 1.50% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
MSTP and NVD have the same expense ratio: 1.50% per year.
NVD has the higher dividend yield at 18.15%, compared with 0.00% for MSTP.
MSTP is categorized as Leveraged Equities, while NVD is Inverse Equities.
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