NVD vs. TSDD

Last updated Jun 26, 2026

NVD (GraniteShares 2x Short NVDA Daily ETF) and TSDD (GraniteShares 2x Short TSLA Daily ETF) are both Inverse Equities funds from GraniteShares. Both are actively managed. Over the past year, NVD returned -53.87% vs -54.15% for TSDD. At a 0.35 correlation, their price movements are largely independent. Both charge a 1.50% expense ratio.

Performance

NVD vs. TSDD - Performance Comparison

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

Returns By Period

In the year-to-date period, NVD achieves a -23.92% return, which is significantly lower than TSDD's 16.69% return.

NVD

• 1D: 3.23%
• 1M: 15.01%
• YTD: -23.92%
• 6M: -22.14%
• 1Y: -53.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSDD

• 1D: 0.17%
• 1M: 26.86%
• YTD: 16.69%
• 6M: 35.71%
• 1Y: -54.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NVD vs. TSDD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NVD GraniteShares 2x Short NVDA Daily ETF	-23.92%	-73.27%	-93.09%	-15.28%
TSDD GraniteShares 2x Short TSLA Daily ETF	16.69%	-74.84%	-89.21%	-20.49%

Correlation

The correlation between NVD and TSDD is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (All Time) Calculated using the full available price history since Aug 22, 2023	0.35

NVD vs. TSDD - Sectors Allocation Comparison

Sectors	NVD	TSDD
Technology	199.7%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	200.1%
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

NVD vs. TSDD — 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: 3

TSDD

TSDD Risk / Return Rank: 5
TSDD Sharpe Ratio Rank: 5
TSDD Sortino Ratio Rank: 5
TSDD Omega Ratio Rank: 5
TSDD Calmar Ratio Rank: 3
TSDD Martin Ratio Rank: 5

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. TSDD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Short NVDA Daily ETF (NVD) and GraniteShares 2x Short TSLA Daily ETF (TSDD). 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	TSDD	Difference
Sharpe ratio: Return per unit of total volatility	-0.76	-0.62	-0.14
Sortino ratio: Return per unit of downside risk	-1.02	-0.64	-0.38
Omega ratio: Gain probability vs. loss probability	0.89	0.93	-0.04
Calmar ratio: Return relative to maximum drawdown	-0.81	-0.75	-0.06
Martin ratio: Return relative to average drawdown	-1.33	-0.95	-0.38

NVD vs. TSDD - Sharpe Ratio Comparison

The current NVD Sharpe Ratio is -0.76, which is comparable to the TSDD Sharpe Ratio of -0.62. The chart below compares the historical Sharpe Ratios of NVD and TSDD, 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. TSDD - Drawdown Comparison

The maximum NVD drawdown since its inception was -99.26%, roughly equal to the maximum TSDD drawdown of -99.03%. Use the drawdown chart below to compare losses from any high point for NVD and TSDD.

Drawdown Indicators

	NVD	TSDD	Difference
Max Drawdown Largest peak-to-trough decline	-99.26%	-99.03%	-0.23%
Max Drawdown (1Y) Largest decline over 1 year	-66.81%	-72.39%	+5.58%
Current Drawdown Current decline from peak	-98.98%	-98.66%	-0.32%
Average Drawdown Average peak-to-trough decline	-81.90%	-71.69%	-10.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	40.42%	56.75%	-16.33%

Volatility

NVD vs. TSDD - Volatility Comparison

GraniteShares 2x Short NVDA Daily ETF (NVD) and GraniteShares 2x Short TSLA Daily ETF (TSDD) have volatilities of 26.63% and 27.02%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NVD	TSDD	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.63%	27.02%	-0.39%
Volatility (6M) Calculated over the trailing 6-month period	54.05%	56.73%	-2.68%
Volatility (1Y) Calculated over the trailing 1-year period	71.16%	87.65%	-16.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	92.48%	114.18%	-21.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	92.48%	114.18%	-21.70%

NVD vs. TSDD - Expense Ratio Comparison

Both NVD and TSDD have an expense ratio of 1.50%.

Dividends

NVD vs. TSDD - Dividend Comparison

NVD's dividend yield for the trailing twelve months is around 15.54%, more than TSDD's 7.22% yield.

Position	TTM	2025	2024	2023
NVD GraniteShares 2x Short NVDA Daily ETF	15.54%	11.83%	8.68%	15.78%
TSDD GraniteShares 2x Short TSLA Daily ETF	7.22%	8.42%	0.00%	24.84%

Frequently Asked Questions

Can I hold both NVD and TSDD in my portfolio?

NVD and TSDD have a correlation of 0.41, 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 TSDD?

TSDD has higher volatility (27.02%) compared to NVD (26.63%). In terms of maximum drawdown, NVD dropped -99.26% vs TSDD's -99.03%.

Which ETF is better, NVD or TSDD?

On 1-year performance, NVD leads with -53.87% vs -54.15% for TSDD. Both ETFs have the same 1.50% expense ratio. On volatility, NVD has been the lower-risk option at 26.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NVD or TSDD?

Over the 1-year period, NVD has performed better with a -53.87% return vs -54.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NVD or TSDD?

NVD and TSDD have the same expense ratio: 1.50% per year.

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

NVD has the higher dividend yield at 15.54%, compared with 7.22% for TSDD.

Which has better risk-adjusted returns?

TSDD currently has the higher Sharpe Ratio (-0.62 vs -0.76), 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.