NVD vs. QCOM
NVD (GraniteShares 2x Short NVDA Daily ETF) is Inverse Equities fund actively managed by GraniteShares, while QCOM (QUALCOMM Incorporated) is a stock. Over the past year, NVD returned -51.56% vs 19.31% for QCOM. At a correlation of -0.44, they often move in opposite directions.
Performance
NVD vs. QCOM - Performance Comparison
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Returns By Period
In the year-to-date period, NVD achieves a -30.35% return, which is significantly lower than QCOM's 8.65% return.
NVD
- 1D
- 7.10%
- 1M
- -0.80%
- 6M
- -31.59%
- YTD
- -30.35%
- 1Y
- -51.56%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QCOM
- 1D
- -2.74%
- 1M
- -13.10%
- 6M
- 9.79%
- YTD
- 8.65%
- 1Y
- 19.31%
- 3Y*
- 17.01%
- 5Y*
- 7.35%
- 10Y*
- 16.01%
NVD vs. QCOM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
NVD GraniteShares 2x Short NVDA Daily ETF | -30.35% | -73.27% | -93.09% | -15.28% |
QCOM QUALCOMM Incorporated | 8.65% | 13.84% | 8.31% | 32.44% |
Correlation
The correlation between NVD and QCOM is -0.23, 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 | -0.23 |
Correlation (All Time) Calculated using the full available price history since Aug 22, 2023 | -0.44 |
Over the past year, the inverse relationship between NVD and QCOM has weakened: their correlation has moved from -0.44 to -0.23, meaning they move in opposite directions less often than they have historically.
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Return for Risk
NVD vs. QCOM — Risk / Return Rank
NVD
QCOM
NVD vs. QCOM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Short NVDA Daily ETF (NVD) and QUALCOMM Incorporated (QCOM). 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 | QCOM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.10 | ||
| Sortino ratioReturn per unit of downside risk | -1.80 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.12 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | -0.83 | 0.59 | -1.42 |
| Martin ratioReturn relative to average drawdown | -1.50 | 1.21 | -2.70 |
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Drawdowns
NVD vs. QCOM - Drawdown Comparison
The maximum NVD drawdown since its inception was -99.26%, which is greater than QCOM's maximum drawdown of -86.75%. Use the drawdown chart below to compare losses from any high point for NVD and QCOM.
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Drawdown Indicators
| NVD | QCOM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.26% | -86.75% | -12.51% |
Max Drawdown (1Y)Largest decline over 1 year | -61.97% | -33.13% | -28.84% |
Max Drawdown (3Y)Largest decline over 3 years | — | -44.23% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -44.29% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -44.29% | — |
Current DrawdownCurrent decline from peak | -99.06% | -26.44% | -72.62% |
Average DrawdownAverage peak-to-trough decline | -82.16% | -32.84% | -49.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.47% | 16.04% | +18.43% |
Volatility
NVD vs. QCOM - Volatility Comparison
GraniteShares 2x Short NVDA Daily ETF (NVD) has a higher volatility of 22.19% compared to QUALCOMM Incorporated (QCOM) at 19.09%. This indicates that NVD's price experiences larger fluctuations and is considered to be riskier than QCOM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NVD | QCOM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.19% | 19.09% | +3.10% |
Volatility (6M)Calculated over the trailing 6-month period | 55.59% | 45.20% | +10.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 71.84% | 51.25% | +20.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 92.23% | 41.83% | +50.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 92.23% | 39.57% | +52.66% |
Dividends
NVD vs. QCOM - Dividend Comparison
NVD's dividend yield for the trailing twelve months is around 16.98%, more than QCOM's 1.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NVD GraniteShares 2x Short NVDA Daily ETF | 16.98% | 11.83% | 8.68% | 15.78% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QCOM QUALCOMM Incorporated | 1.95% | 2.06% | 2.18% | 2.18% | 2.67% | 1.47% | 1.69% | 2.81% | 4.27% | 3.50% | 3.17% | 3.72% |
Frequently Asked Questions
NVD and QCOM have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NVD has higher volatility (22.19%) compared to QCOM (19.09%). In terms of maximum drawdown, NVD dropped -99.26% vs QCOM's -86.75%.
QCOM currently has the higher Sharpe Ratio (0.38 vs -0.72), 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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