NBIZ vs. CARD

Last updated Aug 2, 2026

NBIZ (Tradr 2X Short NBIS Daily ETF) and CARD (Max Auto Industry -3X Inverse Leveraged ETN) are both Inverse Equities funds - NBIZ tracks the Nebius Group N.V. (NBIS) while CARD tracks the Prime Auto Industry Index - Benchmark TR Net (--300%). Both are passively managed. Their 0.15 correlation means their historical movements had little consistent relationship. NBIZ charges 1.49%/yr vs 0.95%/yr for CARD.

Performance

NBIZ vs. CARD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Short NBIS Daily ETF (NBIZ) and Max Auto Industry -3X Inverse Leveraged ETN (CARD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

NBIZ

• 1D: -2.71%
• 1M: -37.07%
• 6M: -98.00%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

CARD

• 1D: 3.59%
• 1M: 1.66%
• 6M: -6.13%
• YTD: -8.92%
• 1Y: -38.90%
• 3Y*: -47.16%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -52.24%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CARD Max Auto Industry -3X Inverse Leveraged ETN	$47.33K	$47.63K	$45.90K
NBIZ Tradr 2X Short NBIS Daily ETF	$76.41M	$57.60M	$42.81M

NBIZ vs. CARD - Yearly Performance Comparison

	2026 (YTD)
NBIZ Tradr 2X Short NBIS Daily ETF	-97.27%
CARD Max Auto Industry -3X Inverse Leveraged ETN	2.99%

Correlation

The correlation between NBIZ and CARD is 0.15, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 22, 2026	0.15

Return for Risk

NBIZ vs. CARD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NBIZ

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

CARD

CARD Risk / Return Rank: 5
CARD Sharpe Ratio Rank: 5
CARD Sortino Ratio Rank: 6
CARD Omega Ratio Rank: 6
CARD Calmar Ratio Rank: 2
CARD Martin Ratio Rank: 3

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NBIZ vs. CARD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Short NBIS Daily ETF (NBIZ) and Max Auto Industry -3X Inverse Leveraged ETN (CARD). 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.

	NBIZ	CARD	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.50	—
Sortino ratio: Return per unit of downside risk	—	-0.36	—
Omega ratio: Gain probability vs. loss probability	—	0.96	—
Calmar ratio: Return relative to maximum drawdown	—	-0.81	—
Martin ratio: Return relative to average drawdown	—	-1.23	—

Drawdowns

NBIZ vs. CARD - Drawdown Comparison

The maximum NBIZ drawdown since its inception was -98.41%, roughly equal to the maximum CARD drawdown of -93.74%. Use the drawdown chart below to compare losses from any high point for NBIZ and CARD.

Drawdown Indicators

	NBIZ	CARD	Difference
Max Drawdown Largest peak-to-trough decline	-98.41%	-93.74%	-4.67%
Max Drawdown (1Y) Largest decline over 1 year	—	-44.14%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-93.74%	—
Current Drawdown Current decline from peak	-98.41%	-93.16%	-5.25%
Average Drawdown Average peak-to-trough decline	-77.23%	-69.56%	-7.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	29.16%	—

Volatility

Volatility by Period

	NBIZ	CARD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	23.32%	—
Volatility (6M) Calculated over the trailing 6-month period	—	54.55%	—
Volatility (1Y) Calculated over the trailing 1-year period	237.50%	72.06%	+165.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	237.50%	80.51%	+156.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	237.50%	80.51%	+156.99%

NBIZ vs. CARD - Expense Ratio Comparison

NBIZ has a 1.49% expense ratio, which is higher than CARD's 0.95% expense ratio.

Dividends

NBIZ vs. CARD - Dividend Comparison

Neither NBIZ nor CARD has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both NBIZ and CARD in my portfolio?

NBIZ and CARD have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NBIZ or CARD?

On fees, CARD is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NBIZ or CARD?

CARD is cheaper with a 0.95% expense ratio, compared with 1.49% for NBIZ.

Which ETF pays a higher dividend yield, NBIZ or CARD?

NBIZ and CARD have nearly identical dividend yields, around 0.00%.

What is the main difference between NBIZ and CARD?

NBIZ tracks Nebius Group N.V. (NBIS), while CARD tracks Prime Auto Industry Index - Benchmark TR Net (--300%). They also come from different issuers: Tradr and Max. Their fees differ too: 1.49% for NBIZ and 0.95% for CARD.