NOWL vs. NVDL
NOWL (GraniteShares 2x Long NOW Daily ETF) and NVDL (GraniteShares 2x Long NVDA Daily ETF) are both Leveraged Equities funds from GraniteShares. Both are actively managed. At a 0.03 correlation, their price movements are largely independent. NOWL charges 1.50%/yr vs 1.15%/yr for NVDL.
Performance
NOWL vs. NVDL - Performance Comparison
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Returns By Period
In the year-to-date period, NOWL achieves a -55.17% return, which is significantly lower than NVDL's 19.95% return.
NOWL
- 1D
- -15.19%
- 1M
- 53.22%
- YTD
- -55.17%
- 6M
- -63.42%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NVDL
- 1D
- -7.15%
- 1M
- 14.24%
- YTD
- 19.95%
- 6M
- 27.27%
- 1Y
- 84.82%
- 3Y*
- 109.72%
- 5Y*
- —
- 10Y*
- —
NOWL vs. NVDL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NOWL GraniteShares 2x Long NOW Daily ETF | -55.17% | -42.58% |
NVDL GraniteShares 2x Long NVDA Daily ETF | 19.95% | 7.90% |
Correlation
The correlation between NOWL and NVDL is 0.03, 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 | 0.03 |
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Return for Risk
NOWL vs. NVDL — Risk / Return Rank
NOWL
NVDL
NOWL vs. NVDL - 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 Long NVDA Daily ETF (NVDL). 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 | NVDL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 1.25 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.76 | 1.77 | -2.53 |
Drawdowns
NOWL vs. NVDL - Drawdown Comparison
The maximum NOWL drawdown since its inception was -86.57%, which is greater than NVDL's maximum drawdown of -67.55%. Use the drawdown chart below to compare losses from any high point for NOWL and NVDL.
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Drawdown Indicators
| NOWL | NVDL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.57% | -67.55% | -19.02% |
Max Drawdown (1Y)Largest decline over 1 year | — | -42.23% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -67.55% | — |
Current DrawdownCurrent decline from peak | -76.11% | -18.19% | -57.92% |
Average DrawdownAverage peak-to-trough decline | -47.53% | -16.96% | -30.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 18.39% | — |
Volatility
NOWL vs. NVDL - Volatility Comparison
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Volatility by Period
| NOWL | NVDL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 24.77% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 50.80% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 103.33% | 68.20% | +35.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 103.33% | 90.43% | +12.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 103.33% | 90.43% | +12.90% |
NOWL vs. NVDL - Expense Ratio Comparison
NOWL has a 1.50% expense ratio, which is higher than NVDL's 1.15% expense ratio.
Dividends
NOWL vs. NVDL - Dividend Comparison
Neither NOWL nor NVDL has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
NOWL GraniteShares 2x Long NOW Daily ETF | 0.00% | 0.00% | 0.00% | 0.00% |
NVDL GraniteShares 2x Long NVDA Daily ETF | 0.00% | 0.00% | 0.00% | 11.29% |
Frequently Asked Questions
NOWL and NVDL have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, NVDL is cheaper at 1.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NVDL is cheaper with a 1.15% expense ratio, compared with 1.50% for NOWL.
NOWL and NVDL have nearly identical dividend yields, around 0.00%.
Their fees differ too: 1.50% for NOWL and 1.15% for NVDL.
Find the right allocation for NOWL and NVDL
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