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NVD vs. XLK
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

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.


Performance

NVD vs. XLK - Performance Comparison

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

-100.00%-50.00%0.00%50.00%December2025FebruaryMarchAprilMay
-95.33%
30.19%
NVD
XLK

Key characteristics

Sharpe Ratio

NVD:

-0.66

XLK:

0.24

Sortino Ratio

NVD:

-0.95

XLK:

0.55

Omega Ratio

NVD:

0.89

XLK:

1.07

Calmar Ratio

NVD:

-0.81

XLK:

0.28

Martin Ratio

NVD:

-1.20

XLK:

0.90

Ulcer Index

NVD:

65.16%

XLK:

8.12%

Daily Std Dev

NVD:

118.37%

XLK:

30.03%

Max Drawdown

NVD:

-96.09%

XLK:

-82.05%

Current Drawdown

NVD:

-95.98%

XLK:

-10.73%

Returns By Period

In the year-to-date period, NVD achieves a -20.20% return, which is significantly lower than XLK's -7.02% return.


NVD

YTD

-20.20%

1M

-41.82%

6M

-9.23%

1Y

-77.18%

5Y*

N/A

10Y*

N/A

XLK

YTD

-7.02%

1M

17.63%

6M

-7.20%

1Y

6.39%

5Y*

18.96%

10Y*

18.99%

*Annualized

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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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NVD
The Risk-Adjusted Performance Rank of NVD is 22
Overall Rank
The Sharpe Ratio Rank of NVD is 33
Sharpe Ratio Rank
The Sortino Ratio Rank of NVD is 22
Sortino Ratio Rank
The Omega Ratio Rank of NVD is 22
Omega Ratio Rank
The Calmar Ratio Rank of NVD is 00
Calmar Ratio Rank
The Martin Ratio Rank of NVD is 44
Martin Ratio Rank

XLK
The Risk-Adjusted Performance Rank of XLK is 3939
Overall Rank
The Sharpe Ratio Rank of XLK is 3535
Sharpe Ratio Rank
The Sortino Ratio Rank of XLK is 4040
Sortino Ratio Rank
The Omega Ratio Rank of XLK is 3939
Omega Ratio Rank
The Calmar Ratio Rank of XLK is 4343
Calmar Ratio Rank
The Martin Ratio Rank of XLK is 3838
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

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.


The current NVD Sharpe Ratio is -0.66, which is lower than the XLK Sharpe Ratio of 0.24. The chart below compares the historical Sharpe Ratios of NVD and XLK, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio-1.00-0.500.000.501.001.50December2025FebruaryMarchAprilMay
-0.65
0.21
NVD
XLK

Dividends

NVD vs. XLK - Dividend Comparison

NVD's dividend yield for the trailing twelve months is around 10.88%, more than XLK's 0.72% yield.


TTM20242023202220212020201920182017201620152014
NVD
GraniteShares 2x Short NVDA Daily ETF
10.88%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
0.72%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 -96.09%, 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. For additional features, visit the drawdowns tool.


-100.00%-80.00%-60.00%-40.00%-20.00%0.00%December2025FebruaryMarchAprilMay
-95.98%
-10.73%
NVD
XLK

Volatility

NVD vs. XLK - Volatility Comparison

GraniteShares 2x Short NVDA Daily ETF (NVD) has a higher volatility of 53.60% compared to Technology Select Sector SPDR Fund (XLK) at 15.70%. 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.


0.00%10.00%20.00%30.00%40.00%50.00%60.00%December2025FebruaryMarchAprilMay
53.60%
15.70%
NVD
XLK