NVD vs. IOYY
NVD (GraniteShares 2x Short NVDA Daily ETF) and IOYY (GraniteShares YieldBOOST IONQ ETF) are both exchange-traded funds - NVD is a Inverse Equities fund actively managed by GraniteShares, while IOYY is a Derivative Income fund actively managed by GraniteShares. Both are actively managed. At a correlation of -0.15, they often move in opposite directions. NVD charges 1.50%/yr vs 1.07%/yr for IOYY.
Performance
NVD vs. IOYY - Performance Comparison
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Returns By Period
In the year-to-date period, NVD achieves a -37.20% return, which is significantly lower than IOYY's -11.06% return.
NVD
- 1D
- -3.65%
- 1M
- -22.72%
- YTD
- -37.20%
- 6M
- -40.09%
- 1Y
- -68.07%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IOYY
- 1D
- -0.54%
- 1M
- 9.06%
- YTD
- -11.06%
- 6M
- -19.16%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NVD vs. IOYY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NVD GraniteShares 2x Short NVDA Daily ETF | -37.20% | 8.27% |
IOYY GraniteShares YieldBOOST IONQ ETF | -11.06% | -11.64% |
Correlation
The correlation between NVD and IOYY is -0.15, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 5, 2025 | -0.16 |
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Return for Risk
NVD vs. IOYY — Risk / Return Rank
NVD
IOYY
NVD vs. IOYY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Short NVDA Daily ETF (NVD) and GraniteShares YieldBOOST IONQ ETF (IOYY). 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.
| NVD | IOYY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.81 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.94 | — | — |
| Martin ratioReturn relative to average drawdown | -1.42 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NVD | IOYY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.00 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.88 | -1.00 | +0.13 |
Drawdowns
NVD vs. IOYY - Drawdown Comparison
The maximum NVD drawdown since its inception was -99.26%, which is greater than IOYY's maximum drawdown of -38.47%. Use the drawdown chart below to compare losses from any high point for NVD and IOYY.
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Drawdown Indicators
| NVD | IOYY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.26% | -38.47% | -60.79% |
Max Drawdown (1Y)Largest decline over 1 year | -72.64% | — | — |
Current DrawdownCurrent decline from peak | -99.15% | -27.87% | -71.28% |
Average DrawdownAverage peak-to-trough decline | -81.68% | -23.09% | -58.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 47.83% | — | — |
Volatility
NVD vs. IOYY - Volatility Comparison
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Volatility by Period
| NVD | IOYY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 25.96% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 52.11% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 68.48% | 34.42% | +34.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 92.55% | 34.42% | +58.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 92.55% | 34.42% | +58.13% |
NVD vs. IOYY - Expense Ratio Comparison
NVD has a 1.50% expense ratio, which is higher than IOYY's 1.07% expense ratio.
Dividends
NVD vs. IOYY - Dividend Comparison
NVD's dividend yield for the trailing twelve months is around 18.83%, less than IOYY's 121.09% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
IOYY GraniteShares YieldBOOST IONQ ETF | 121.09% | 28.55% | 0.00% | 0.00% |
NVD GraniteShares 2x Short NVDA Daily ETF | 18.83% | 11.83% | 8.68% | 15.78% |
Frequently Asked Questions
NVD and IOYY 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.
On fees, IOYY is cheaper at 1.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IOYY is cheaper with a 1.07% expense ratio, compared with 1.50% for NVD.
IOYY has the higher dividend yield at 121.09%, compared with 18.83% for NVD.
NVD is categorized as Inverse Equities, while IOYY is Derivative Income. Their fees differ too: 1.50% for NVD and 1.07% for IOYY.
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