NVD vs. TSLZ

Last updated Aug 2, 2026

NVD (GraniteShares 2x Short NVDA Daily ETF) and TSLZ (T-Rex 2X Inverse Tesla Daily Target ETF) are both Inverse Equities funds. Both are actively managed. Over the past year, NVD returned -45.67% vs -48.25% for TSLZ. Their 0.35 correlation means their historical movements had little consistent relationship. NVD charges 1.50%/yr vs 1.05%/yr for TSLZ.

Performance

NVD vs. TSLZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Short NVDA Daily ETF (NVD) and T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ). 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 TSLZ's 45.39% return.

NVD

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

TSLZ

• 1D: -1.43%
• 1M: 44.35%
• 6M: 37.89%
• YTD: 45.39%
• 1Y: -48.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -71.84%

*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
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF	$39.89M	$35.72M	$42.79M

NVD vs. TSLZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NVD GraniteShares 2x Short NVDA Daily ETF	-30.21%	-73.27%	-93.09%	-23.04%
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF	45.39%	-75.98%	-88.79%	-24.75%

Correlation

The correlation between NVD and TSLZ is 0.43, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.43
Correlation (All Time) Calculated using the full available price history since Oct 19, 2023	0.35

Return for Risk

NVD vs. TSLZ — 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

TSLZ

TSLZ Risk / Return Rank: 5
TSLZ Sharpe Ratio Rank: 5
TSLZ Sortino Ratio Rank: 6
TSLZ Omega Ratio Rank: 6
TSLZ Calmar Ratio Rank: 4
TSLZ Martin Ratio Rank: 5

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. TSLZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Short NVDA Daily ETF (NVD) and T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ). 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	TSLZ	Difference
Sharpe ratio: Return per unit of total volatility	-0.59	-0.51	-0.08
Sortino ratio: Return per unit of downside risk	-0.56	-0.33	-0.23
Omega ratio: Gain probability vs. loss probability	0.94	0.96	-0.03
Calmar ratio: Return relative to maximum drawdown	-0.72	-0.67	-0.05
Martin ratio: Return relative to average drawdown	-1.30	-0.82	-0.48

NVD vs. TSLZ - Sharpe Ratio Comparison

The current NVD Sharpe Ratio is -0.59, which is comparable to the TSLZ Sharpe Ratio of -0.51. The chart below compares the historical Sharpe Ratios of NVD and TSLZ, 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. TSLZ - Drawdown Comparison

The maximum NVD drawdown since its inception was -99.26%, roughly equal to the maximum TSLZ drawdown of -99.11%. Use the drawdown chart below to compare losses from any high point for NVD and TSLZ.

Drawdown Indicators

	NVD	TSLZ	Difference
Max Drawdown Largest peak-to-trough decline	-99.26%	-99.11%	-0.15%
Max Drawdown (1Y) Largest decline over 1 year	-59.80%	-69.73%	+9.93%
Current Drawdown Current decline from peak	-99.06%	-98.47%	-0.59%
Average Drawdown Average peak-to-trough decline	-82.49%	-76.60%	-5.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.25%	56.63%	-23.38%

Volatility

NVD vs. TSLZ - Volatility Comparison

The current volatility for GraniteShares 2x Short NVDA Daily ETF (NVD) is 24.19%, while T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ) has a volatility of 37.13%. This indicates that NVD experiences smaller price fluctuations and is considered to be less risky than TSLZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NVD	TSLZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.19%	37.13%	-12.94%
Volatility (6M) Calculated over the trailing 6-month period	57.44%	67.39%	-9.95%
Volatility (1Y) Calculated over the trailing 1-year period	73.16%	91.79%	-18.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	92.05%	117.68%	-25.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	92.05%	117.68%	-25.63%

NVD vs. TSLZ - Expense Ratio Comparison

NVD has a 1.50% expense ratio, which is higher than TSLZ's 1.05% expense ratio.

Dividends

NVD vs. TSLZ - Dividend Comparison

NVD's dividend yield for the trailing twelve months is around 16.95%, more than TSLZ's 0.47% yield.

Position	TTM	2025	2024	2023
NVD GraniteShares 2x Short NVDA Daily ETF	16.95%	11.83%	8.68%	15.78%
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF	0.47%	0.69%	2.08%	12.15%

Frequently Asked Questions

Can I hold both NVD and TSLZ in my portfolio?

NVD and TSLZ have a correlation of 0.43, 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 TSLZ?

TSLZ has higher volatility (37.13%) compared to NVD (24.19%). In terms of maximum drawdown, NVD dropped -99.26% vs TSLZ's -99.11%.

Which ETF is better, NVD or TSLZ?

On 1-year performance, NVD leads with -45.67% vs -48.25% for TSLZ. On fees, TSLZ is cheaper at 1.05% per year. On volatility, NVD has been the lower-risk option at 24.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NVD or TSLZ?

Over the 1-year period, NVD has performed better with a -45.67% return vs -48.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NVD or TSLZ?

TSLZ is cheaper with a 1.05% expense ratio, compared with 1.50% for NVD.

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

NVD has the higher dividend yield at 16.95%, compared with 0.47% for TSLZ.

What is the main difference between NVD and TSLZ?

They also come from different issuers: GraniteShares and T-Rex. Their fees differ too: 1.50% for NVD and 1.05% for TSLZ.

Which has better risk-adjusted returns?

TSLZ currently has the higher Sharpe Ratio (-0.51 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.