MVLL vs. NVD

Last updated Jul 14, 2026

MVLL (GraniteShares 2x Long MRVL Daily ETF) and NVD (GraniteShares 2x Short NVDA Daily ETF) are both exchange-traded funds - MVLL is a Leveraged Equities fund tracking the Marvell Technology Inc. (MRVL), while NVD is a Inverse Equities fund actively managed by GraniteShares. MVLL is passively managed, while NVD is actively managed. Over the past year, MVLL returned 337.52% vs -51.56% for NVD. At a correlation of -0.48, they often move in opposite directions. Both charge a 1.50% expense ratio.

Performance

MVLL vs. NVD - Performance Comparison

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

Returns By Period

In the year-to-date period, MVLL achieves a 307.91% return, which is significantly higher than NVD's -30.35% return.

MVLL

• 1D: -15.28%
• 1M: -45.44%
• 6M: 332.17%
• YTD: 307.91%
• 1Y: 337.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NVD

• 1D: 7.10%
• 1M: -0.80%
• 6M: -31.59%
• YTD: -30.35%
• 1Y: -51.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MVLL vs. NVD - Yearly Performance Comparison

	2026 (YTD)	2025
MVLL GraniteShares 2x Long MRVL Daily ETF	307.91%	-8.44%
NVD GraniteShares 2x Short NVDA Daily ETF	-30.35%	-77.00%

Correlation

The correlation between MVLL and NVD is -0.41, 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	-0.41
Correlation (All Time) Calculated using the full available price history since Mar 7, 2025	-0.48

MVLL vs. NVD - Sectors Allocation Comparison

Sectors	MVLL	NVD
Technology	66.7%	199.6%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

MVLL vs. NVD — Risk / Return Rank

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

MVLL

MVLL Risk / Return Rank: 85
MVLL Sharpe Ratio Rank: 88
MVLL Sortino Ratio Rank: 80
MVLL Omega Ratio Rank: 81
MVLL Calmar Ratio Rank: 94
MVLL Martin Ratio Rank: 84

NVD

NVD Risk / Return Rank: 3
NVD Sharpe Ratio Rank: 3
NVD Sortino Ratio Rank: 4
NVD Omega Ratio Rank: 4
NVD Calmar Ratio Rank: 2
NVD Martin Ratio Rank: 1

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.

MVLL vs. NVD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long MRVL Daily ETF (MVLL) 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.

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.

	MVLL	NVD	Difference
Sharpe ratio: Return per unit of total volatility	2.27	-0.72	+2.99
Sortino ratio: Return per unit of downside risk	2.82	-0.89	+3.71
Omega ratio: Gain probability vs. loss probability	1.38	0.90	+0.48
Calmar ratio: Return relative to maximum drawdown	5.62	-0.83	+6.46
Martin ratio: Return relative to average drawdown	13.17	-1.50	+14.67

MVLL vs. NVD - Sharpe Ratio Comparison

The current MVLL Sharpe Ratio is 2.27, which is higher than the NVD Sharpe Ratio of -0.72. The chart below compares the historical Sharpe Ratios of MVLL and NVD, 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

MVLL vs. NVD - Drawdown Comparison

The maximum MVLL drawdown since its inception was -60.49%, smaller than the maximum NVD drawdown of -99.26%. Use the drawdown chart below to compare losses from any high point for MVLL and NVD.

Drawdown Indicators

	MVLL	NVD	Difference
Max Drawdown Largest peak-to-trough decline	-60.49%	-99.26%	+38.77%
Max Drawdown (1Y) Largest decline over 1 year	-60.49%	-61.97%	+1.48%
Current Drawdown Current decline from peak	-60.49%	-99.06%	+38.57%
Average Drawdown Average peak-to-trough decline	-23.20%	-82.16%	+58.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.77%	34.47%	-8.70%

Volatility

MVLL vs. NVD - Volatility Comparison

GraniteShares 2x Long MRVL Daily ETF (MVLL) has a higher volatility of 63.47% compared to GraniteShares 2x Short NVDA Daily ETF (NVD) at 22.19%. This indicates that MVLL's price experiences larger fluctuations and is considered to be riskier than NVD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MVLL	NVD	Difference
Volatility (1M) Calculated over the trailing 1-month period	63.47%	22.19%	+41.28%
Volatility (6M) Calculated over the trailing 6-month period	121.00%	55.59%	+65.41%
Volatility (1Y) Calculated over the trailing 1-year period	149.98%	71.84%	+78.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	149.06%	92.23%	+56.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	149.06%	92.23%	+56.83%

MVLL vs. NVD - Expense Ratio Comparison

Both MVLL and NVD have an expense ratio of 1.50%.

Dividends

MVLL vs. NVD - Dividend Comparison

MVLL has not paid dividends to shareholders, while NVD's dividend yield for the trailing twelve months is around 16.98%.

Position	TTM	2025	2024	2023
MVLL GraniteShares 2x Long MRVL Daily ETF	0.00%	0.00%	0.00%	0.00%
NVD GraniteShares 2x Short NVDA Daily ETF	16.98%	11.83%	8.68%	15.78%

Frequently Asked Questions

Can I hold both MVLL and NVD in my portfolio?

MVLL and NVD have a correlation of -0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MVLL or NVD?

MVLL has higher volatility (63.47%) compared to NVD (22.19%). In terms of maximum drawdown, MVLL dropped -60.49% vs NVD's -99.26%.

Which ETF is better, MVLL or NVD?

On 1-year performance, MVLL leads with 337.52% vs -51.56% for NVD. Both ETFs have the same 1.50% expense ratio. On volatility, NVD has been the lower-risk option at 22.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MVLL or NVD?

Over the 1-year period, MVLL has performed better with a 337.52% return vs -51.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MVLL or NVD?

MVLL and NVD have the same expense ratio: 1.50% per year.

Which ETF pays a higher dividend yield, MVLL or NVD?

NVD has the higher dividend yield at 16.98%, compared with 0.00% for MVLL.

What is the main difference between MVLL and NVD?

MVLL is categorized as Leveraged Equities, while NVD is Inverse Equities.

Which has better risk-adjusted returns?

MVLL currently has the higher Sharpe Ratio (2.27 vs -0.72), 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.