NVD vs. QCOM

Last updated Aug 2, 2026

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 -45.67% vs 1.71% for QCOM. Their -0.43 correlation means they have often moved in opposite directions in the past.

Performance

NVD vs. QCOM - Performance Comparison

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

Returns By Period

In the year-to-date period, NVD achieves a -30.21% return, which is significantly lower than QCOM's -12.83% return.

NVD

• 1D: -5.85%
• 1M: -9.27%
• 6M: -25.85%
• YTD: -30.21%
• 1Y: -45.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -78.48%

QCOM

• 1D: -2.63%
• 1M: -16.25%
• 6M: -1.64%
• YTD: -12.83%
• 1Y: 1.71%
• 3Y*: 6.05%
• 5Y*: 1.88%
• 10Y*: 12.34%
• ALL TIME*: 19.37%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
NVD GraniteShares 2x Short NVDA Daily ETF	$448.34M	$392.73M	$345.88M
QCOM QUALCOMM Incorporated	$2.23B	$2.34B	$4.42B

NVD vs. QCOM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NVD GraniteShares 2x Short NVDA Daily ETF	-30.21%	-73.27%	-93.09%	-15.28%
QCOM QUALCOMM Incorporated	-12.83%	13.84%	8.31%	32.44%

Correlation

The correlation between NVD and QCOM is -0.22, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.22
Correlation (All Time) Calculated using the full available price history since Aug 22, 2023	-0.43

Over the past year, the inverse relationship between NVD and QCOM has weakened: their correlation has moved from -0.43 to -0.22, meaning they move in opposite directions less often than they have historically.

Return for Risk

NVD vs. QCOM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NVD

NVD Risk / Return Rank: 4
NVD Sharpe Ratio Rank: 4
NVD Sortino Ratio Rank: 5
NVD Omega Ratio Rank: 5
NVD Calmar Ratio Rank: 3
NVD Martin Ratio Rank: 2

QCOM

QCOM Risk / Return Rank: 46
QCOM Sharpe Ratio Rank: 46
QCOM Sortino Ratio Rank: 45
QCOM Omega Ratio Rank: 45
QCOM Calmar Ratio Rank: 47
QCOM Martin Ratio Rank: 47

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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 ratio: Return per unit of total volatility	-0.59	0.05	-0.64
Sortino ratio: Return per unit of downside risk	-0.56	0.46	-1.02
Omega ratio: Gain probability vs. loss probability	0.94	1.06	-0.12
Calmar ratio: Return relative to maximum drawdown	-0.72	0.07	-0.79
Martin ratio: Return relative to average drawdown	-1.30	0.15	-1.45

NVD vs. QCOM - Sharpe Ratio Comparison

The current NVD Sharpe Ratio is -0.59, which is lower than the QCOM Sharpe Ratio of 0.05. The chart below compares the historical Sharpe Ratios of NVD and QCOM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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.

Drawdown Indicators

	NVD	QCOM	Difference
Max Drawdown Largest peak-to-trough decline	-99.26%	-86.75%	-12.51%
Max Drawdown (1Y) Largest decline over 1 year	-59.80%	-40.98%	-18.82%
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 Drawdown Current decline from peak	-99.06%	-40.98%	-58.08%
Average Drawdown Average peak-to-trough decline	-82.49%	-32.85%	-49.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.25%	17.76%	+15.49%

Volatility

NVD vs. QCOM - Volatility Comparison

GraniteShares 2x Short NVDA Daily ETF (NVD) has a higher volatility of 24.19% compared to QUALCOMM Incorporated (QCOM) at 12.41%. 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.

Volatility by Period

	NVD	QCOM	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.19%	12.41%	+11.78%
Volatility (6M) Calculated over the trailing 6-month period	57.44%	45.70%	+11.74%
Volatility (1Y) Calculated over the trailing 1-year period	73.16%	51.93%	+21.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	92.05%	41.93%	+50.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	92.05%	39.61%	+52.44%

Dividends

NVD vs. QCOM - Dividend Comparison

NVD's dividend yield for the trailing twelve months is around 16.95%, more than QCOM's 2.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NVD GraniteShares 2x Short NVDA Daily ETF	16.95%	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	2.43%	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

Can I hold both NVD and QCOM in my portfolio?

NVD and QCOM have a correlation of -0.22, 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 QCOM?

NVD has higher volatility (24.19%) compared to QCOM (12.41%). In terms of maximum drawdown, NVD dropped -99.26% vs QCOM's -86.75%.

Which has better risk-adjusted returns?

QCOM currently has the higher Sharpe Ratio (0.05 vs -0.59), 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.