MSTR vs. NVDL
MSTR (Strategy Inc) is a stock, while NVDL (GraniteShares 2x Long NVDA Daily ETF) is Leveraged Equities fund actively managed by GraniteShares. Over the past 3 years, MSTR returned 64.73%/yr vs 99.48%/yr for NVDL. At a 0.35 correlation, their price movements are largely independent.
Performance
MSTR vs. NVDL - Performance Comparison
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Returns By Period
In the year-to-date period, MSTR achieves a -13.70% return, which is significantly lower than NVDL's 16.15% return.
MSTR
- 1D
- 5.78%
- 1M
- -26.08%
- YTD
- -13.70%
- 6M
- -19.09%
- 1Y
- -65.75%
- 3Y*
- 64.73%
- 5Y*
- 16.17%
- 10Y*
- 22.02%
NVDL
- 1D
- 7.05%
- 1M
- -12.95%
- YTD
- 16.15%
- 6M
- 28.66%
- 1Y
- 78.08%
- 3Y*
- 99.48%
- 5Y*
- —
- 10Y*
- —
MSTR vs. NVDL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
MSTR Strategy Inc | -13.70% | -47.53% | 358.54% | 346.15% | -27.83% |
NVDL GraniteShares 2x Long NVDA Daily ETF | 16.15% | 32.57% | 344.58% | 432.18% | -28.71% |
Correlation
The correlation between MSTR and NVDL is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2022 | 0.35 |
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Return for Risk
MSTR vs. NVDL — Risk / Return Rank
MSTR
NVDL
MSTR vs. NVDL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Strategy Inc (MSTR) 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.
| MSTR | NVDL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.05 | ||
| Sortino ratioReturn per unit of downside risk | -3.37 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.21 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | 1.86 | -2.72 |
| Martin ratioReturn relative to average drawdown | -1.24 | 4.15 | -5.39 |
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Drawdowns
MSTR vs. NVDL - Drawdown Comparison
The maximum MSTR drawdown since its inception was -99.86%, which is greater than NVDL's maximum drawdown of -67.55%. Use the drawdown chart below to compare losses from any high point for MSTR and NVDL.
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Drawdown Indicators
| MSTR | NVDL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.86% | -67.55% | -32.31% |
Max Drawdown (1Y)Largest decline over 1 year | -76.53% | -42.23% | -34.30% |
Max Drawdown (3Y)Largest decline over 3 years | -77.42% | -67.55% | -9.87% |
Max Drawdown (5Y)Largest decline over 5 years | -84.11% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -89.27% | — | — |
Current DrawdownCurrent decline from peak | -72.32% | -20.79% | -51.53% |
Average DrawdownAverage peak-to-trough decline | -86.45% | -17.02% | -69.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 53.20% | 18.88% | +34.32% |
Volatility
MSTR vs. NVDL - Volatility Comparison
The current volatility for Strategy Inc (MSTR) is 21.84%, while GraniteShares 2x Long NVDA Daily ETF (NVDL) has a volatility of 25.91%. This indicates that MSTR 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
| MSTR | NVDL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.84% | 25.91% | -4.07% |
Volatility (6M)Calculated over the trailing 6-month period | 57.65% | 53.48% | +4.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 71.53% | 70.01% | +1.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 90.56% | 90.45% | +0.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 73.85% | 90.45% | -16.60% |
Dividends
MSTR vs. NVDL - Dividend Comparison
Neither MSTR nor NVDL has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
MSTR Strategy Inc | 0.00% | 0.00% | 0.00% | 0.00% |
NVDL GraniteShares 2x Long NVDA Daily ETF | 0.00% | 0.00% | 0.00% | 11.29% |
Frequently Asked Questions
MSTR and NVDL have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NVDL has higher volatility (25.91%) compared to MSTR (21.84%). In terms of maximum drawdown, MSTR dropped -99.86% vs NVDL's -67.55%.
NVDL currently has the higher Sharpe Ratio (1.12 vs -0.92), 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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