NVD vs. YSPY

Last updated Jun 5, 2026

NVD (GraniteShares 2x Short NVDA Daily ETF) and YSPY (GraniteShares YieldBOOST SPY ETF) are both exchange-traded funds - NVD is a Inverse Equities fund actively managed by GraniteShares, while YSPY is a Leveraged Equities fund actively managed by GraniteShares. Both are actively managed. Over the past year, NVD returned -68.07% vs 27.34% for YSPY. At a correlation of -0.54, they often move in opposite directions. NVD charges 1.50%/yr vs 1.07%/yr for YSPY.

Performance

NVD vs. YSPY - Performance Comparison

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

Returns By Period

In the year-to-date period, NVD achieves a -37.20% return, which is significantly lower than YSPY's 5.57% return.

NVD

• 1D: -3.65%
• 1M: -22.72%
• YTD: -37.20%
• 6M: -40.09%
• 1Y: -68.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

YSPY

• 1D: 0.03%
• 1M: 3.66%
• YTD: 5.57%
• 6M: 6.83%
• 1Y: 27.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NVD vs. YSPY - Yearly Performance Comparison

	2026 (YTD)	2025
NVD GraniteShares 2x Short NVDA Daily ETF	-37.20%	-69.24%
YSPY GraniteShares YieldBOOST SPY ETF	5.57%	9.17%

Correlation

The correlation between NVD and YSPY is -0.50, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.50
Correlation (All Time) Calculated using the full available price history since Feb 27, 2025	-0.54

The correlation between NVD and YSPY has been stable across timeframes, ranging from -0.54 to -0.50 - a consistent structural relationship.

Return for Risk

NVD vs. YSPY — Risk / Return Rank

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

NVD

NVD Risk / Return Rank: 1
NVD Sharpe Ratio Rank: 1
NVD Sortino Ratio Rank: 1
NVD Omega Ratio Rank: 1
NVD Calmar Ratio Rank: 1
NVD Martin Ratio Rank: 2

YSPY

YSPY Risk / Return Rank: 42
YSPY Sharpe Ratio Rank: 42
YSPY Sortino Ratio Rank: 34
YSPY Omega Ratio Rank: 50
YSPY Calmar Ratio Rank: 38
YSPY Martin Ratio Rank: 44

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. YSPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Short NVDA Daily ETF (NVD) and GraniteShares YieldBOOST SPY ETF (YSPY). 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	YSPY	Difference
Sharpe ratio: Return per unit of total volatility	-1.00	1.44	-2.44
Sortino ratio: Return per unit of downside risk	-1.75	1.79	-3.54
Omega ratio: Gain probability vs. loss probability	0.81	1.31	-0.50
Calmar ratio: Return relative to maximum drawdown	-0.94	1.88	-2.82
Martin ratio: Return relative to average drawdown	-1.42	6.96	-8.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NVD vs. YSPY - Sharpe Ratio Comparison

The current NVD Sharpe Ratio is -1.00, which is lower than the YSPY Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of NVD and YSPY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NVD	YSPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.00	1.44	-2.44
Sharpe Ratio (All Time) Calculated using the full available price history	-0.88	0.56	-1.44

Drawdowns

NVD vs. YSPY - Drawdown Comparison

The maximum NVD drawdown since its inception was -99.26%, which is greater than YSPY's maximum drawdown of -18.74%. Use the drawdown chart below to compare losses from any high point for NVD and YSPY.

Drawdown Indicators

	NVD	YSPY	Difference
Max Drawdown Largest peak-to-trough decline	-99.26%	-18.74%	-80.52%
Max Drawdown (1Y) Largest decline over 1 year	-72.64%	-14.60%	-58.04%
Current Drawdown Current decline from peak	-99.15%	-0.40%	-98.75%
Average Drawdown Average peak-to-trough decline	-81.68%	-4.99%	-76.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	47.83%	3.94%	+43.89%

Volatility

NVD vs. YSPY - Volatility Comparison

GraniteShares 2x Short NVDA Daily ETF (NVD) has a higher volatility of 25.96% compared to GraniteShares YieldBOOST SPY ETF (YSPY) at 1.11%. This indicates that NVD's price experiences larger fluctuations and is considered to be riskier than YSPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NVD	YSPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.96%	1.11%	+24.85%
Volatility (6M) Calculated over the trailing 6-month period	52.11%	14.17%	+37.94%
Volatility (1Y) Calculated over the trailing 1-year period	68.48%	19.08%	+49.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	92.55%	21.24%	+71.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	92.55%	21.24%	+71.31%

NVD vs. YSPY - Expense Ratio Comparison

NVD has a 1.50% expense ratio, which is higher than YSPY's 1.07% expense ratio.

Dividends

NVD vs. YSPY - Dividend Comparison

NVD's dividend yield for the trailing twelve months is around 18.83%, less than YSPY's 56.96% yield.

Position	TTM	2025	2024	2023
NVD GraniteShares 2x Short NVDA Daily ETF	18.83%	11.83%	8.68%	15.78%
YSPY GraniteShares YieldBOOST SPY ETF	56.96%	45.57%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NVD and YSPY in my portfolio?

NVD and YSPY have a correlation of -0.50, 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 YSPY?

NVD has higher volatility (25.96%) compared to YSPY (1.11%). In terms of maximum drawdown, NVD dropped -99.26% vs YSPY's -18.74%.

Which ETF is better, NVD or YSPY?

On 1-year performance, YSPY leads with 27.34% vs -68.07% for NVD. On fees, YSPY is cheaper at 1.07% per year. On volatility, YSPY has been the lower-risk option at 1.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NVD or YSPY?

Over the 1-year period, YSPY has performed better with a 27.34% return vs -68.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NVD or YSPY?

YSPY is cheaper with a 1.07% expense ratio, compared with 1.50% for NVD.

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

YSPY has the higher dividend yield at 56.96%, compared with 18.83% for NVD.

What is the main difference between NVD and YSPY?

NVD is categorized as Inverse Equities, while YSPY is Leveraged Equities. Their fees differ too: 1.50% for NVD and 1.07% for YSPY.

Which has better risk-adjusted returns?

YSPY currently has the higher Sharpe Ratio (1.44 vs -1.00), 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.