NVD vs. PLTD

Last updated Jun 4, 2026

NVD (GraniteShares 2x Short NVDA Daily ETF) and PLTD (Direxion Daily PLTR Bear 1X Shares) are both Inverse Equities funds. NVD is actively managed, while PLTD is passively managed. Over the past year, NVD returned -67.15% vs -22.19% for PLTD. At a 0.46 correlation, their price movements are largely independent. NVD charges 1.50%/yr vs 0.98%/yr for PLTD.

Performance

NVD vs. PLTD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Short NVDA Daily ETF (NVD) and Direxion Daily PLTR Bear 1X Shares (PLTD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NVD achieves a -34.83% return, which is significantly lower than PLTD's 13.23% return.

NVD

• 1D: 7.13%
• 1M: -18.10%
• YTD: -34.83%
• 6M: -40.44%
• 1Y: -67.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PLTD

• 1D: 6.63%
• 1M: -0.00%
• YTD: 13.23%
• 6M: 11.78%
• 1Y: -22.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NVD vs. PLTD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NVD GraniteShares 2x Short NVDA Daily ETF	-34.83%	-73.27%	7.05%
PLTD Direxion Daily PLTR Bear 1X Shares	13.23%	-70.53%	-5.12%

Correlation

The correlation between NVD and PLTD is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (All Time) Calculated using the full available price history since Dec 12, 2024	0.46

Return for Risk

NVD vs. PLTD — Risk / Return Rank

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

NVD

NVD Risk / Return Rank: 1
NVD Sharpe Ratio Rank: 1
NVD Sortino Ratio Rank: 1
NVD Omega Ratio Rank: 1
NVD Calmar Ratio Rank: 1
NVD Martin Ratio Rank: 2

PLTD

PLTD Risk / Return Rank: 5
PLTD Sharpe Ratio Rank: 5
PLTD Sortino Ratio Rank: 6
PLTD Omega Ratio Rank: 6
PLTD Calmar Ratio Rank: 5
PLTD Martin Ratio Rank: 6

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. PLTD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Short NVDA Daily ETF (NVD) and Direxion Daily PLTR Bear 1X Shares (PLTD). 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	PLTD	Difference
Sharpe ratio: Return per unit of total volatility	-0.98	-0.43	-0.55
Sortino ratio: Return per unit of downside risk	-1.70	-0.34	-1.36
Omega ratio: Gain probability vs. loss probability	0.81	0.96	-0.15
Calmar ratio: Return relative to maximum drawdown	-0.93	-0.50	-0.43
Martin ratio: Return relative to average drawdown	-1.41	-0.74	-0.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NVD vs. PLTD - Sharpe Ratio Comparison

The current NVD Sharpe Ratio is -0.98, which is lower than the PLTD Sharpe Ratio of -0.43. The chart below compares the historical Sharpe Ratios of NVD and PLTD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NVD	PLTD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.98	-0.43	-0.55
Sharpe Ratio (All Time) Calculated using the full available price history	-0.87	-0.86	-0.02

Drawdowns

NVD vs. PLTD - Drawdown Comparison

The maximum NVD drawdown since its inception was -99.26%, which is greater than PLTD's maximum drawdown of -77.34%. Use the drawdown chart below to compare losses from any high point for NVD and PLTD.

Drawdown Indicators

	NVD	PLTD	Difference
Max Drawdown Largest peak-to-trough decline	-99.26%	-77.34%	-21.92%
Max Drawdown (1Y) Largest decline over 1 year	-72.64%	-44.79%	-27.85%
Current Drawdown Current decline from peak	-99.12%	-71.01%	-28.11%
Average Drawdown Average peak-to-trough decline	-81.65%	-59.43%	-22.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	47.63%	30.14%	+17.49%

Volatility

NVD vs. PLTD - Volatility Comparison

GraniteShares 2x Short NVDA Daily ETF (NVD) has a higher volatility of 26.02% compared to Direxion Daily PLTR Bear 1X Shares (PLTD) at 18.68%. This indicates that NVD's price experiences larger fluctuations and is considered to be riskier than PLTD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NVD	PLTD	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.02%	18.68%	+7.34%
Volatility (6M) Calculated over the trailing 6-month period	52.01%	38.02%	+13.99%
Volatility (1Y) Calculated over the trailing 1-year period	68.60%	51.79%	+16.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	92.60%	63.73%	+28.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	92.60%	63.73%	+28.87%

NVD vs. PLTD - Expense Ratio Comparison

NVD has a 1.50% expense ratio, which is higher than PLTD's 0.98% expense ratio.

Dividends

NVD vs. PLTD - Dividend Comparison

NVD's dividend yield for the trailing twelve months is around 18.15%, more than PLTD's 3.26% yield.

Position	TTM	2025	2024	2023
NVD GraniteShares 2x Short NVDA Daily ETF	18.15%	11.83%	8.68%	15.78%
PLTD Direxion Daily PLTR Bear 1X Shares	3.26%	5.17%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NVD and PLTD in my portfolio?

NVD and PLTD have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NVD or PLTD?

NVD has higher volatility (26.02%) compared to PLTD (18.68%). In terms of maximum drawdown, NVD dropped -99.26% vs PLTD's -77.34%.

Which ETF is better, NVD or PLTD?

On 1-year performance, PLTD leads with -22.19% vs -67.15% for NVD. On fees, PLTD is cheaper at 0.98% per year. On volatility, PLTD has been the lower-risk option at 18.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NVD or PLTD?

Over the 1-year period, PLTD has performed better with a -22.19% return vs -67.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NVD or PLTD?

PLTD is cheaper with a 0.98% expense ratio, compared with 1.50% for NVD.

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

NVD has the higher dividend yield at 18.15%, compared with 3.26% for PLTD.

What is the main difference between NVD and PLTD?

They also come from different issuers: GraniteShares and Direxion. Their fees differ too: 1.50% for NVD and 0.98% for PLTD.

Which has better risk-adjusted returns?

PLTD currently has the higher Sharpe Ratio (-0.43 vs -0.98), 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.