Correlation
The correlation between NVD and XLK is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
NVD vs. XLK
Compare and contrast key facts about GraniteShares 2x Short NVDA Daily ETF (NVD) and Technology Select Sector SPDR Fund (XLK).
NVD and XLK 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. XLK is a passively managed fund by State Street that tracks the performance of the Technology Select Sector Index. It was launched on Dec 16, 1998.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: NVD or XLK.
Performance
NVD vs. XLK - Performance Comparison
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Key characteristics
NVD:
-0.65
XLK:
0.23
NVD:
-1.04
XLK:
0.51
NVD:
0.88
XLK:
1.07
NVD:
-0.83
XLK:
0.25
NVD:
-1.28
XLK:
0.78
NVD:
62.95%
XLK:
8.21%
NVD:
119.22%
XLK:
30.44%
NVD:
-97.07%
XLK:
-82.05%
NVD:
-96.88%
XLK:
-6.18%
Returns By Period
In the year-to-date period, NVD achieves a -38.04% return, which is significantly lower than XLK's -2.28% return.
NVD
-38.04%
-36.67%
-32.03%
-74.29%
N/A
N/A
N/A
XLK
-2.28%
10.41%
-2.58%
6.13%
20.76%
19.64%
19.55%
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NVD vs. XLK - Expense Ratio Comparison
NVD has a 1.50% expense ratio, which is higher than XLK's 0.13% expense ratio.
Risk-Adjusted Performance
NVD vs. XLK — Risk-Adjusted Performance Rank
NVD
XLK
NVD vs. XLK - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Short NVDA Daily ETF (NVD) and Technology Select Sector SPDR Fund (XLK). 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.
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Dividends
NVD vs. XLK - Dividend Comparison
NVD's dividend yield for the trailing twelve months is around 14.01%, more than XLK's 0.69% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NVD GraniteShares 2x Short NVDA Daily ETF | 14.01% | 8.68% | 15.78% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XLK Technology Select Sector SPDR Fund | 0.69% | 0.66% | 0.76% | 1.04% | 0.65% | 0.92% | 1.16% | 1.60% | 1.37% | 1.74% | 1.79% | 1.75% |
Drawdowns
NVD vs. XLK - Drawdown Comparison
The maximum NVD drawdown since its inception was -97.07%, which is greater than XLK's maximum drawdown of -82.05%. Use the drawdown chart below to compare losses from any high point for NVD and XLK.
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Volatility
NVD vs. XLK - Volatility Comparison
GraniteShares 2x Short NVDA Daily ETF (NVD) has a higher volatility of 22.45% compared to Technology Select Sector SPDR Fund (XLK) at 6.17%. This indicates that NVD's price experiences larger fluctuations and is considered to be riskier than XLK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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