NVDA vs. DIG

Last updated Jun 4, 2026

NVDA (NVIDIA Corporation) is a stock, while DIG (ProShares Ultra Oil & Gas) is Leveraged Equities fund tracking the Dow Jones U.S. Oil & Gas Index (200%). Over the past 10 years, NVDA returned 68.84%/yr vs 5.32%/yr for DIG. At a 0.32 correlation, their price movements are largely independent.

Performance

NVDA vs. DIG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NVIDIA Corporation (NVDA) and ProShares Ultra Oil & Gas (DIG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NVDA achieves a 15.15% return, which is significantly lower than DIG's 66.35% return. Over the past 10 years, NVDA has outperformed DIG with an annualized return of 68.84%, while DIG has yielded a comparatively lower 5.32% annualized return.

NVDA

• 1D: -3.62%
• 1M: 8.20%
• YTD: 15.15%
• 6M: 19.59%
• 1Y: 52.10%
• 3Y*: 76.15%
• 5Y*: 65.05%
• 10Y*: 68.84%

DIG

• 1D: 2.57%
• 1M: -3.48%
• YTD: 66.35%
• 6M: 59.45%
• 1Y: 90.00%
• 3Y*: 23.37%
• 5Y*: 28.29%
• 10Y*: 5.32%

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

NVDA vs. DIG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NVDA NVIDIA Corporation	15.15%	38.92%	171.25%	239.02%	-50.26%	125.48%	122.30%	76.94%	-30.82%	81.99%
DIG ProShares Ultra Oil & Gas	66.35%	2.73%	0.93%	-13.04%	125.34%	115.63%	-70.36%	12.51%	-40.11%	-7.39%

Correlation

The correlation between NVDA and DIG is -0.14, 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	-0.14
Correlation (3Y) Calculated over the trailing 3-year period	-0.02
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (10Y) Calculated over the trailing 10-year period	0.19
Correlation (All Time) Calculated using the full available price history since Feb 2, 2007	0.32

The correlation between NVDA and DIG shifts across timeframes, from -0.14 (1 year) to 0.32 (all time), reflecting how their relationship changes across market environments.

Return for Risk

NVDA vs. DIG — Risk / Return Rank

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

NVDA

NVDA Risk / Return Rank: 78
NVDA Sharpe Ratio Rank: 81
NVDA Sortino Ratio Rank: 77
NVDA Omega Ratio Rank: 73
NVDA Calmar Ratio Rank: 79
NVDA Martin Ratio Rank: 79

DIG

DIG Risk / Return Rank: 61
DIG Sharpe Ratio Rank: 66
DIG Sortino Ratio Rank: 53
DIG Omega Ratio Rank: 52
DIG Calmar Ratio Rank: 76
DIG Martin Ratio Rank: 59

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.

NVDA vs. DIG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NVIDIA Corporation (NVDA) and ProShares Ultra Oil & Gas (DIG). 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.

	NVDA	DIG	Difference
Sharpe ratio: Return per unit of total volatility	1.53	2.22	-0.68
Sortino ratio: Return per unit of downside risk	2.15	2.61	-0.47
Omega ratio: Gain probability vs. loss probability	1.26	1.33	-0.07
Calmar ratio: Return relative to maximum drawdown	2.59	3.89	-1.29
Martin ratio: Return relative to average drawdown	6.36	10.65	-4.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NVDA vs. DIG - Sharpe Ratio Comparison

The current NVDA Sharpe Ratio is 1.53, which is lower than the DIG Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of NVDA and DIG, 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

	NVDA	DIG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.53	2.22	-0.68
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.27	0.55	+0.72
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.39	0.09	+1.30
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	-0.00	+0.63

Drawdowns

NVDA vs. DIG - Drawdown Comparison

The maximum NVDA drawdown since its inception was -89.72%, smaller than the maximum DIG drawdown of -97.04%. Use the drawdown chart below to compare losses from any high point for NVDA and DIG.

Drawdown Indicators

	NVDA	DIG	Difference
Max Drawdown Largest peak-to-trough decline	-89.72%	-97.04%	+7.32%
Max Drawdown (1Y) Largest decline over 1 year	-20.21%	-23.29%	+3.08%
Max Drawdown (3Y) Largest decline over 3 years	-36.88%	-42.41%	+5.53%
Max Drawdown (5Y) Largest decline over 5 years	-66.34%	-46.02%	-20.32%
Max Drawdown (10Y) Largest decline over 10 years	-66.34%	-92.53%	+26.19%
Current Drawdown Current decline from peak	-8.90%	-51.27%	+42.37%
Average Drawdown Average peak-to-trough decline	-36.21%	-64.37%	+28.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.21%	8.49%	-0.28%

Volatility

NVDA vs. DIG - Volatility Comparison

The current volatility for NVIDIA Corporation (NVDA) is 12.53%, while ProShares Ultra Oil & Gas (DIG) has a volatility of 16.56%. This indicates that NVDA experiences smaller price fluctuations and is considered to be less risky than DIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NVDA	DIG	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.53%	16.56%	-4.03%
Volatility (6M) Calculated over the trailing 6-month period	25.54%	33.14%	-7.60%
Volatility (1Y) Calculated over the trailing 1-year period	34.22%	40.88%	-6.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.69%	51.59%	+0.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.80%	57.81%	-8.01%

Dividends

NVDA vs. DIG - Dividend Comparison

NVDA's dividend yield for the trailing twelve months is around 0.02%, less than DIG's 1.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DIG ProShares Ultra Oil & Gas	1.50%	2.62%	3.13%	0.61%	1.33%	2.24%	3.18%	2.72%	2.30%	1.76%	1.09%	1.56%
NVDA NVIDIA Corporation	0.02%	0.02%	0.03%	0.03%	0.11%	0.05%	0.12%	0.27%	0.46%	0.29%	0.45%	1.20%

Frequently Asked Questions

Can I hold both NVDA and DIG in my portfolio?

NVDA and DIG have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NVDA or DIG?

DIG has higher volatility (16.56%) compared to NVDA (12.53%). In terms of maximum drawdown, NVDA dropped -89.72% vs DIG's -97.04%.

Which has better risk-adjusted returns?

DIG currently has the higher Sharpe Ratio (2.22 vs 1.53), 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.