NVD vs. SKRE

Last updated Jul 14, 2026

NVD (GraniteShares 2x Short NVDA Daily ETF) and SKRE (Tuttle Capital Daily 2X Inverse Regional Banks ETF) are both Inverse Equities funds. NVD is actively managed, while SKRE is passively managed. Over the past year, NVD returned -51.56% vs -40.68% for SKRE. At a 0.13 correlation, their price movements are largely independent. NVD charges 1.50%/yr vs 0.75%/yr for SKRE.

Performance

NVD vs. SKRE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Short NVDA Daily ETF (NVD) and Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with NVD having a -30.35% return and SKRE slightly lower at -31.48%.

NVD

• 1D: 7.10%
• 1M: -0.80%
• 6M: -31.59%
• YTD: -30.35%
• 1Y: -51.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SKRE

• 1D: 0.15%
• 1M: -6.10%
• 6M: -27.31%
• YTD: -31.48%
• 1Y: -40.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NVD vs. SKRE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NVD GraniteShares 2x Short NVDA Daily ETF	-30.35%	-73.27%	-93.48%
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF	-31.48%	-31.29%	-44.47%

Correlation

The correlation between NVD and SKRE is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.05
Correlation (All Time) Calculated using the full available price history since Jan 4, 2024	0.13

Return for Risk

NVD vs. SKRE — 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: 1

SKRE

SKRE Risk / Return Rank: 2
SKRE Sharpe Ratio Rank: 2
SKRE Sortino Ratio Rank: 3
SKRE Omega Ratio Rank: 3
SKRE Calmar Ratio Rank: 2
SKRE Martin Ratio Rank: 1

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. SKRE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Short NVDA Daily ETF (NVD) and Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE). 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	SKRE	Difference
Sharpe ratio: Return per unit of total volatility	-0.72	-0.88	+0.16
Sortino ratio: Return per unit of downside risk	-0.89	-1.25	+0.36
Omega ratio: Gain probability vs. loss probability	0.90	0.86	+0.04
Calmar ratio: Return relative to maximum drawdown	-0.83	-0.83	0.00
Martin ratio: Return relative to average drawdown	-1.50	-1.44	-0.06

NVD vs. SKRE - Sharpe Ratio Comparison

The current NVD Sharpe Ratio is -0.72, which is comparable to the SKRE Sharpe Ratio of -0.88. The chart below compares the historical Sharpe Ratios of NVD and SKRE, 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. SKRE - Drawdown Comparison

The maximum NVD drawdown since its inception was -99.26%, which is greater than SKRE's maximum drawdown of -78.32%. Use the drawdown chart below to compare losses from any high point for NVD and SKRE.

Drawdown Indicators

	NVD	SKRE	Difference
Max Drawdown Largest peak-to-trough decline	-99.26%	-78.32%	-20.94%
Max Drawdown (1Y) Largest decline over 1 year	-61.97%	-49.07%	-12.90%
Current Drawdown Current decline from peak	-99.06%	-77.77%	-21.29%
Average Drawdown Average peak-to-trough decline	-82.16%	-48.39%	-33.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.47%	28.32%	+6.15%

Volatility

NVD vs. SKRE - Volatility Comparison

GraniteShares 2x Short NVDA Daily ETF (NVD) has a higher volatility of 22.19% compared to Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE) at 11.56%. This indicates that NVD's price experiences larger fluctuations and is considered to be riskier than SKRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NVD	SKRE	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.19%	11.56%	+10.63%
Volatility (6M) Calculated over the trailing 6-month period	55.59%	32.34%	+23.25%
Volatility (1Y) Calculated over the trailing 1-year period	71.84%	46.52%	+25.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	92.23%	55.15%	+37.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	92.23%	55.15%	+37.08%

NVD vs. SKRE - Expense Ratio Comparison

NVD has a 1.50% expense ratio, which is higher than SKRE's 0.75% expense ratio.

Dividends

NVD vs. SKRE - Dividend Comparison

NVD's dividend yield for the trailing twelve months is around 16.98%, more than SKRE's 0.37% yield.

Position	TTM	2025	2024	2023
NVD GraniteShares 2x Short NVDA Daily ETF	16.98%	11.83%	8.68%	15.78%
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF	0.37%	0.26%	3.16%	0.00%

Frequently Asked Questions

Can I hold both NVD and SKRE in my portfolio?

NVD and SKRE have a correlation of 0.05, 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 SKRE?

NVD has higher volatility (22.19%) compared to SKRE (11.56%). In terms of maximum drawdown, NVD dropped -99.26% vs SKRE's -78.32%.

Which ETF is better, NVD or SKRE?

On 1-year performance, SKRE leads with -40.68% vs -51.56% for NVD. On fees, SKRE is cheaper at 0.75% per year. On volatility, SKRE has been the lower-risk option at 11.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NVD or SKRE?

Over the 1-year period, SKRE has performed better with a -40.68% return vs -51.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NVD or SKRE?

SKRE is cheaper with a 0.75% expense ratio, compared with 1.50% for NVD.

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

NVD has the higher dividend yield at 16.98%, compared with 0.37% for SKRE.

What is the main difference between NVD and SKRE?

They also come from different issuers: GraniteShares and Tuttle. Their fees differ too: 1.50% for NVD and 0.75% for SKRE.

Which has better risk-adjusted returns?

NVD currently has the higher Sharpe Ratio (-0.72 vs -0.88), 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.