NBIZ vs. MSFD

Last updated Jul 12, 2026

NBIZ (Tradr 2X Short NBIS Daily ETF) and MSFD (Direxion Daily MSFT Bear 1X Shares) are both Inverse Equities funds - NBIZ tracks the Nebius Group N.V. (NBIS) while MSFD tracks the Microsoft Corporation (-100%). Both are passively managed. At a 0.17 correlation, their price movements are largely independent. NBIZ charges 1.49%/yr vs 1.06%/yr for MSFD.

Performance

NBIZ vs. MSFD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Short NBIS Daily ETF (NBIZ) and Direxion Daily MSFT Bear 1X Shares (MSFD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

NBIZ

• 1D: -3.01%
• 1M: -13.55%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSFD

• 1D: -0.21%
• 1M: 0.81%
• 6M: 20.50%
• YTD: 21.66%
• 1Y: 27.78%
• 3Y*: -4.53%
• 5Y*: —
• 10Y*: —

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

NBIZ vs. MSFD - Yearly Performance Comparison

	2026 (YTD)
NBIZ Tradr 2X Short NBIS Daily ETF	-96.04%
MSFD Direxion Daily MSFT Bear 1X Shares	11.62%

Correlation

The correlation between NBIZ and MSFD is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 22, 2026	0.17

Return for Risk

NBIZ vs. MSFD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments 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.

MSFD

MSFD Risk / Return Rank: 34
MSFD Sharpe Ratio Rank: 34
MSFD Sortino Ratio Rank: 37
MSFD Omega Ratio Rank: 37
MSFD Calmar Ratio Rank: 29
MSFD Martin Ratio Rank: 32

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.

NBIZ vs. MSFD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Short NBIS Daily ETF (NBIZ) and Direxion Daily MSFT Bear 1X Shares (MSFD). 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	MSFD	Difference
Sharpe ratio: Return per unit of total volatility	—	1.01	—
Sortino ratio: Return per unit of downside risk	—	1.60	—
Omega ratio: Gain probability vs. loss probability	—	1.20	—
Calmar ratio: Return relative to maximum drawdown	—	1.18	—
Martin ratio: Return relative to average drawdown	—	3.80	—

Drawdowns

NBIZ vs. MSFD - Drawdown Comparison

The maximum NBIZ drawdown since its inception was -98.35%, which is greater than MSFD's maximum drawdown of -59.90%. Use the drawdown chart below to compare losses from any high point for NBIZ and MSFD.

Drawdown Indicators

	NBIZ	MSFD	Difference
Max Drawdown Largest peak-to-trough decline	-98.35%	-59.90%	-38.45%
Max Drawdown (1Y) Largest decline over 1 year	—	-23.25%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-40.50%	—
Current Drawdown Current decline from peak	-97.70%	-45.13%	-52.57%
Average Drawdown Average peak-to-trough decline	-74.64%	-41.64%	-33.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.21%	—

Volatility

Volatility by Period

	NBIZ	MSFD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	10.50%	—
Volatility (6M) Calculated over the trailing 6-month period	—	23.94%	—
Volatility (1Y) Calculated over the trailing 1-year period	217.33%	27.24%	+190.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	217.33%	26.40%	+190.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	217.33%	26.40%	+190.93%

NBIZ vs. MSFD - Expense Ratio Comparison

NBIZ has a 1.49% expense ratio, which is higher than MSFD's 1.06% expense ratio.

Dividends

NBIZ vs. MSFD - Dividend Comparison

NBIZ has not paid dividends to shareholders, while MSFD's dividend yield for the trailing twelve months is around 3.25%.

Position	TTM	2025	2024	2023	2022
MSFD Direxion Daily MSFT Bear 1X Shares	3.25%	3.33%	4.46%	4.43%	0.74%
NBIZ Tradr 2X Short NBIS Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NBIZ and MSFD in my portfolio?

NBIZ and MSFD have a correlation of 0.17, 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 MSFD?

On fees, MSFD is cheaper at 1.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NBIZ or MSFD?

MSFD is cheaper with a 1.06% expense ratio, compared with 1.49% for NBIZ.

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

MSFD has the higher dividend yield at 3.25%, compared with 0.00% for NBIZ.

What is the main difference between NBIZ and MSFD?

NBIZ tracks Nebius Group N.V. (NBIS), while MSFD tracks Microsoft Corporation (-100%). They also come from different issuers: Tradr and Direxion. Their fees differ too: 1.49% for NBIZ and 1.06% for MSFD.