NOWL vs. NVD
NOWL (GraniteShares 2x Long NOW Daily ETF) and NVD (GraniteShares 2x Short NVDA Daily ETF) are both exchange-traded funds - NOWL is a Leveraged Equities fund actively managed by GraniteShares, while NVD is a Inverse Equities fund actively managed by GraniteShares. Both are actively managed. At a correlation of -0.01, they often move in opposite directions. Both charge a 1.50% expense ratio.
Performance
NOWL vs. NVD - Performance Comparison
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Returns By Period
In the year-to-date period, NOWL achieves a -47.14% return, which is significantly lower than NVD's -34.83% return.
NOWL
- 1D
- -12.28%
- 1M
- 84.18%
- YTD
- -47.14%
- 6M
- -55.89%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NVD
- 1D
- 7.13%
- 1M
- -18.10%
- YTD
- -34.83%
- 6M
- -40.44%
- 1Y
- -67.15%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NOWL vs. NVD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NOWL GraniteShares 2x Long NOW Daily ETF | -47.14% | -42.58% |
NVD GraniteShares 2x Short NVDA Daily ETF | -34.83% | -25.13% |
Correlation
The correlation between NOWL and NVD is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jul 16, 2025 | -0.01 |
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Return for Risk
NOWL vs. NVD — Risk / Return Rank
NOWL
NVD
NOWL vs. NVD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long NOW Daily ETF (NOWL) 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| NOWL | NVD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | -0.98 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.73 | -0.87 | +0.15 |
Drawdowns
NOWL vs. NVD - Drawdown Comparison
The maximum NOWL drawdown since its inception was -86.57%, smaller than the maximum NVD drawdown of -99.26%. Use the drawdown chart below to compare losses from any high point for NOWL and NVD.
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Drawdown Indicators
| NOWL | NVD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.57% | -99.26% | +12.69% |
Max Drawdown (1Y)Largest decline over 1 year | — | -72.64% | — |
Current DrawdownCurrent decline from peak | -71.83% | -99.12% | +27.29% |
Average DrawdownAverage peak-to-trough decline | -47.40% | -81.65% | +34.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 47.63% | — |
Volatility
NOWL vs. NVD - Volatility Comparison
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Volatility by Period
| NOWL | NVD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 26.02% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 52.01% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 102.34% | 68.60% | +33.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 102.34% | 92.60% | +9.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 102.34% | 92.60% | +9.74% |
NOWL vs. NVD - Expense Ratio Comparison
Both NOWL and NVD have an expense ratio of 1.50%.
Dividends
NOWL vs. NVD - Dividend Comparison
NOWL has not paid dividends to shareholders, while NVD's dividend yield for the trailing twelve months is around 18.15%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
NOWL GraniteShares 2x Long NOW Daily ETF | 0.00% | 0.00% | 0.00% | 0.00% |
NVD GraniteShares 2x Short NVDA Daily ETF | 18.15% | 11.83% | 8.68% | 15.78% |
Frequently Asked Questions
NOWL and NVD have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 1.50% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
NOWL and NVD have the same expense ratio: 1.50% per year.
NVD has the higher dividend yield at 18.15%, compared with 0.00% for NOWL.
NOWL is categorized as Leveraged Equities, while NVD is Inverse Equities.
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