NGD vs. AVGX

Last updated Jun 5, 2026

NGD (New Gold Inc.) is a stock, while AVGX (Defiance Daily Target 2X Long AVGO ETF) is Leveraged Equities fund actively managed by Defiance. At a 0.20 correlation, their price movements are largely independent.

Performance

NGD vs. AVGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in New Gold Inc. (NGD) and Defiance Daily Target 2X Long AVGO ETF (AVGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

NGD

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AVGX

• 1D: -25.53%
• 1M: -8.40%
• YTD: 26.51%
• 6M: 0.84%
• 1Y: 84.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NGD vs. AVGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NGD New Gold Inc.	4.25%	251.21%	-5.70%
AVGX Defiance Daily Target 2X Long AVGO ETF	26.51%	46.98%	69.92%

Correlation

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

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (All Time) Calculated using the full available price history since Aug 23, 2024	0.20

Return for Risk

NGD vs. AVGX — Risk / Return Rank

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

AVGX

AVGX Risk / Return Rank: 31
AVGX Sharpe Ratio Rank: 27
AVGX Sortino Ratio Rank: 33
AVGX Omega Ratio Rank: 34
AVGX Calmar Ratio Rank: 32
AVGX Martin Ratio Rank: 26

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.

NGD vs. AVGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for New Gold Inc. (NGD) and Defiance Daily Target 2X Long AVGO ETF (AVGX). 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.

Sharpe Ratios by Period

	NGD	AVGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.95	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.86	—

Drawdowns

Drawdown Indicators

	NGD	AVGX	Difference
Max Drawdown Largest peak-to-trough decline	—	-70.97%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-54.09%	—
Current Drawdown Current decline from peak	—	-26.15%	—
Average Drawdown Average peak-to-trough decline	—	-22.72%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	24.26%	—

Volatility

Volatility by Period

	NGD	AVGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	38.30%	—
Volatility (6M) Calculated over the trailing 6-month period	—	68.61%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	89.63%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	106.35%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	106.35%	—

Dividends

NGD vs. AVGX - Dividend Comparison

NGD has not paid dividends to shareholders, while AVGX's dividend yield for the trailing twelve months is around 1.31%.

Position	TTM	2025	2024
AVGX Defiance Daily Target 2X Long AVGO ETF	1.31%	1.65%	0.81%
NGD New Gold Inc.	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NGD and AVGX in my portfolio?

NGD and AVGX 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.