NVD vs. IOYY

Last updated Jun 26, 2026

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 -0.19, they often move in opposite directions. NVD charges 1.50%/yr vs 1.07%/yr for IOYY.

Performance

NVD vs. IOYY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Short NVDA Daily ETF (NVD) and GraniteShares YieldBOOST IONQ ETF (IOYY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NVD achieves a -23.92% return, which is significantly lower than IOYY's -14.34% return.

NVD

• 1D: 3.23%
• 1M: 15.01%
• YTD: -23.92%
• 6M: -22.14%
• 1Y: -53.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IOYY

• 1D: -1.54%
• 1M: -2.44%
• YTD: -14.34%
• 6M: -20.92%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NVD vs. IOYY - Yearly Performance Comparison

	2026 (YTD)	2025
NVD GraniteShares 2x Short NVDA Daily ETF	-23.92%	17.10%
IOYY GraniteShares YieldBOOST IONQ ETF	-14.34%	-13.50%

Correlation

The correlation between NVD and IOYY is -0.19, 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 4, 2025	-0.19

Return for Risk

NVD vs. IOYY — Risk / Return Rank

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

NVD

NVD Risk / Return Rank: 3
NVD Sharpe Ratio Rank: 3
NVD Sortino Ratio Rank: 4
NVD Omega Ratio Rank: 4
NVD Calmar Ratio Rank: 2
NVD Martin Ratio Rank: 3

IOYY

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

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.

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.

	NVD	IOYY	Difference
Sharpe ratio: Return per unit of total volatility	-0.76	—	—
Sortino ratio: Return per unit of downside risk	-1.02	—	—
Omega ratio: Gain probability vs. loss probability	0.89	—	—
Calmar ratio: Return relative to maximum drawdown	-0.81	—	—
Martin ratio: Return relative to average drawdown	-1.33	—	—

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.

Drawdown Indicators

	NVD	IOYY	Difference
Max Drawdown Largest peak-to-trough decline	-99.26%	-38.47%	-60.79%
Max Drawdown (1Y) Largest decline over 1 year	-66.81%	—	—
Current Drawdown Current decline from peak	-98.98%	-30.52%	-68.46%
Average Drawdown Average peak-to-trough decline	-81.90%	-23.54%	-58.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	40.42%	—	—

Volatility

Volatility by Period

	NVD	IOYY	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.63%	—	—
Volatility (6M) Calculated over the trailing 6-month period	54.05%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	71.16%	33.18%	+37.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	92.48%	33.18%	+59.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	92.48%	33.18%	+59.30%

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 15.54%, less than IOYY's 139.39% yield.

Position	TTM	2025	2024	2023
IOYY GraniteShares YieldBOOST IONQ ETF	139.39%	28.55%	0.00%	0.00%
NVD GraniteShares 2x Short NVDA Daily ETF	15.54%	11.83%	8.68%	15.78%

Frequently Asked Questions

Can I hold both NVD and IOYY in my portfolio?

NVD and IOYY have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NVD or IOYY?

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.

Which ETF is cheaper, NVD or IOYY?

IOYY is cheaper with a 1.07% expense ratio, compared with 1.50% for NVD.

Which ETF pays a higher dividend yield, NVD or IOYY?

IOYY has the higher dividend yield at 139.39%, compared with 15.54% for NVD.

What is the main difference between NVD and IOYY?

NVD is categorized as Inverse Equities, while IOYY is Derivative Income. Their fees differ too: 1.50% for NVD and 1.07% for IOYY.