NVD vs. USD
Compare and contrast key facts about GraniteShares 2x Short NVDA Daily ETF (NVD) and ProShares Ultra Semiconductors (USD).
NVD and USD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. NVD is an actively managed fund by GraniteShares. It was launched on Aug 21, 2023. USD is a passively managed fund by ProShares that tracks the performance of the Dow Jones U.S. Semiconductors Index (200%). It was launched on Jan 30, 2007.
Performance
NVD vs. USD - Performance Comparison
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NVD vs. USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
NVD GraniteShares 2x Short NVDA Daily ETF | 4.20% | -73.27% | -93.09% | -15.28% |
USD ProShares Ultra Semiconductors | -4.90% | 62.08% | 139.64% | 30.82% |
Returns By Period
In the year-to-date period, NVD achieves a 4.20% return, which is significantly higher than USD's -4.90% return.
NVD
- 1D
- -1.32%
- 1M
- 5.23%
- YTD
- 4.20%
- 6M
- -3.12%
- 1Y
- -75.09%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
USD
- 1D
- 4.03%
- 1M
- -7.90%
- YTD
- -4.90%
- 6M
- -1.21%
- 1Y
- 145.25%
- 3Y*
- 90.90%
- 5Y*
- 44.58%
- 10Y*
- 50.62%
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NVD vs. USD - Expense Ratio Comparison
NVD has a 1.50% expense ratio, which is higher than USD's 0.95% expense ratio.
Return for Risk
NVD vs. USD — Risk / Return Rank
NVD
USD
NVD vs. USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Short NVDA Daily ETF (NVD) and ProShares Ultra Semiconductors (USD). 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.
| NVD | USD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.91 | 1.90 | -2.81 |
Sortino ratioReturn per unit of downside risk | -1.60 | 2.44 | -4.04 |
Omega ratioGain probability vs. loss probability | 0.80 | 1.34 | -0.54 |
Calmar ratioReturn relative to maximum drawdown | -0.90 | 4.67 | -5.57 |
Martin ratioReturn relative to average drawdown | -1.02 | 12.81 | -13.83 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NVD | USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.91 | 1.90 | -2.81 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.59 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.74 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.85 | 0.41 | -1.26 |
Correlation
The correlation between NVD and USD is -0.93. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
NVD vs. USD - Dividend Comparison
NVD's dividend yield for the trailing twelve months is around 11.35%, more than USD's 0.48% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NVD GraniteShares 2x Short NVDA Daily ETF | 11.35% | 11.83% | 8.68% | 15.78% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
USD ProShares Ultra Semiconductors | 0.48% | 0.39% | 0.10% | 0.05% | 0.30% | 0.00% | 0.14% | 0.72% | 0.93% | 0.32% | 0.46% | 0.39% |
Drawdowns
NVD vs. USD - Drawdown Comparison
The maximum NVD drawdown since its inception was -98.85%, which is greater than USD's maximum drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for NVD and USD.
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Drawdown Indicators
| NVD | USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.85% | -88.63% | -10.22% |
Max Drawdown (1Y)Largest decline over 1 year | -84.54% | -31.80% | -52.74% |
Max Drawdown (5Y)Largest decline over 5 years | — | -77.85% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -77.85% | — |
Current DrawdownCurrent decline from peak | -98.60% | -21.24% | -77.36% |
Average DrawdownAverage peak-to-trough decline | -80.51% | -32.60% | -47.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 74.07% | 11.60% | +62.47% |
Volatility
NVD vs. USD - Volatility Comparison
GraniteShares 2x Short NVDA Daily ETF (NVD) and ProShares Ultra Semiconductors (USD) have volatilities of 21.21% and 21.67%, 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.
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Volatility by Period
| NVD | USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.21% | 21.67% | -0.46% |
Volatility (6M)Calculated over the trailing 6-month period | 52.07% | 48.73% | +3.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 82.53% | 77.08% | +5.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 93.56% | 76.24% | +17.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 93.56% | 68.85% | +24.71% |