NVD vs. IXN
NVD (GraniteShares 2x Short NVDA Daily ETF) and IXN (iShares Global Tech ETF) are both exchange-traded funds - NVD is a Inverse Equities fund actively managed by GraniteShares, while IXN is a Technology Equities fund tracking the S&P Global Information Technology Sector Index. NVD is actively managed, while IXN is passively managed. Over the past year, NVD returned -61.62% vs 59.88% for IXN. At a correlation of -0.76, they often move in opposite directions. NVD charges 1.50%/yr vs 0.46%/yr for IXN.
Performance
NVD vs. IXN - Performance Comparison
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Returns By Period
In the year-to-date period, NVD achieves a -26.99% return, which is significantly lower than IXN's 32.88% return.
NVD
- 1D
- 8.30%
- 1M
- 10.83%
- YTD
- -26.99%
- 6M
- -24.81%
- 1Y
- -61.62%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IXN
- 1D
- -5.33%
- 1M
- 3.10%
- YTD
- 32.88%
- 6M
- 32.08%
- 1Y
- 59.88%
- 3Y*
- 32.94%
- 5Y*
- 20.94%
- 10Y*
- 25.29%
NVD vs. IXN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
NVD GraniteShares 2x Short NVDA Daily ETF | -26.99% | -73.27% | -93.09% | -15.28% |
IXN iShares Global Tech ETF | 32.88% | 25.25% | 24.84% | 15.10% |
Correlation
The correlation between NVD and IXN is -0.72, 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 (1Y) Calculated over the trailing 1-year period | -0.72 |
Correlation (All Time) Calculated using the full available price history since Aug 22, 2023 | -0.76 |
The correlation between NVD and IXN has been stable across timeframes, ranging from -0.76 to -0.72 - a consistent structural relationship.
NVD vs. IXN - Sectors Allocation Comparison
Sectors
NVD
IXN
Technology
Basic Materials
-
-
Communication Services
-
-
Consumer Cyclical
-
-
Consumer Defensive
-
-
Energy
-
Financial Services
-
-
Healthcare
-
Industrials
-
Real Estate
-
Utilities
-
-
Technology
NVD
IXN
Basic Materials
NVD
-
IXN
-
Communication Services
NVD
-
IXN
-
Consumer Cyclical
NVD
-
IXN
-
Consumer Defensive
NVD
-
IXN
-
Energy
NVD
-
IXN
Financial Services
NVD
-
IXN
-
Healthcare
NVD
-
IXN
Industrials
NVD
-
IXN
Real Estate
NVD
-
IXN
Utilities
NVD
-
IXN
-
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Return for Risk
NVD vs. IXN — Risk / Return Rank
NVD
IXN
NVD vs. IXN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Short NVDA Daily ETF (NVD) and iShares Global Tech ETF (IXN). 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 | IXN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.26 | ||
| Sortino ratioReturn per unit of downside risk | -4.26 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.40 | -0.55 |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | 4.36 | -5.25 |
| Martin ratioReturn relative to average drawdown | -1.39 | 14.06 | -15.45 |
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Drawdowns
NVD vs. IXN - Drawdown Comparison
The maximum NVD drawdown since its inception was -99.26%, which is greater than IXN's maximum drawdown of -55.67%. Use the drawdown chart below to compare losses from any high point for NVD and IXN.
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Drawdown Indicators
| NVD | IXN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.26% | -55.67% | -43.59% |
Max Drawdown (1Y)Largest decline over 1 year | -69.44% | -13.80% | -55.64% |
Max Drawdown (3Y)Largest decline over 3 years | — | -25.55% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -36.30% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.30% | — |
Current DrawdownCurrent decline from peak | -99.02% | -6.82% | -92.20% |
Average DrawdownAverage peak-to-trough decline | -81.86% | -11.26% | -70.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 47.02% | 4.27% | +42.75% |
Volatility
NVD vs. IXN - Volatility Comparison
GraniteShares 2x Short NVDA Daily ETF (NVD) has a higher volatility of 26.72% compared to iShares Global Tech ETF (IXN) at 14.03%. This indicates that NVD's price experiences larger fluctuations and is considered to be riskier than IXN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NVD | IXN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 26.72% | 14.03% | +12.69% |
Volatility (6M)Calculated over the trailing 6-month period | 54.57% | 21.54% | +33.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 71.22% | 25.21% | +46.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 92.58% | 25.45% | +67.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 92.58% | 24.67% | +67.91% |
NVD vs. IXN - Expense Ratio Comparison
NVD has a 1.50% expense ratio, which is higher than IXN's 0.46% expense ratio.
Dividends
NVD vs. IXN - Dividend Comparison
NVD's dividend yield for the trailing twelve months is around 16.20%, more than IXN's 0.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IXN iShares Global Tech ETF | 0.79% | 1.04% | 0.43% | 0.55% | 0.81% | 0.58% | 0.63% | 1.06% | 0.94% | 0.93% | 1.03% | 1.12% |
NVD GraniteShares 2x Short NVDA Daily ETF | 16.20% | 11.83% | 8.68% | 15.78% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NVD and IXN have a correlation of -0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NVD has higher volatility (26.72%) compared to IXN (14.03%). In terms of maximum drawdown, NVD dropped -99.26% vs IXN's -55.67%.
On 1-year performance, IXN leads with 59.88% vs -61.62% for NVD. On fees, IXN is cheaper at 0.46% per year. On volatility, IXN has been the lower-risk option at 14.03%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IXN has performed better with a 59.88% return vs -61.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IXN is cheaper with a 0.46% expense ratio, compared with 1.50% for NVD.
NVD has the higher dividend yield at 16.20%, compared with 0.79% for IXN.
NVD is categorized as Inverse Equities, while IXN is Technology Equities. They also come from different issuers: GraniteShares and iShares. Their fees differ too: 1.50% for NVD and 0.46% for IXN.
IXN currently has the higher Sharpe Ratio (2.39 vs -0.87), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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