NVDB vs. DLLL

Last updated Aug 2, 2026

NVDB (ProShares Ultra NVDA) and DLLL (GraniteShares 2x Long DELL Daily ETF) are both Leveraged Equities funds - NVDB tracks the NVIDIA Corporation while DLLL tracks the Dell Technologies Inc. (DELL). Both are passively managed. Their 0.34 correlation means their historical movements had little consistent relationship. NVDB charges 0.95%/yr vs 1.50%/yr for DLLL.

Performance

NVDB vs. DLLL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra NVDA (NVDB) and GraniteShares 2x Long DELL Daily ETF (DLLL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NVDB achieves a -1.03% return, which is significantly lower than DLLL's 615.57% return.

NVDB

• 1D: 5.52%
• 1M: 3.80%
• 6M: -4.26%
• YTD: -1.03%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

DLLL

• 1D: 0.15%
• 1M: -0.53%
• 6M: 775.99%
• YTD: 615.57%
• 1Y: 526.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 275.30%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DLLL GraniteShares 2x Long DELL Daily ETF	$23.39M	$34.88M	$51.04M
NVDB ProShares Ultra NVDA	$471.67K	$569.36K	$937.39K

NVDB vs. DLLL - Yearly Performance Comparison

	2026 (YTD)	2025
NVDB ProShares Ultra NVDA	-1.03%	1.98%
DLLL GraniteShares 2x Long DELL Daily ETF	615.57%	-1.00%

Correlation

The correlation between NVDB and DLLL is 0.34, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 10, 2025	0.34

Return for Risk

NVDB vs. DLLL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NVDB

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

DLLL

DLLL Risk / Return Rank: 94
DLLL Sharpe Ratio Rank: 97
DLLL Sortino Ratio Rank: 93
DLLL Omega Ratio Rank: 91
DLLL Calmar Ratio Rank: 97
DLLL Martin Ratio Rank: 92

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NVDB vs. DLLL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra NVDA (NVDB) and GraniteShares 2x Long DELL Daily ETF (DLLL). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	NVDB	DLLL	Difference
Sharpe ratio: Return per unit of total volatility	—	3.40	—
Sortino ratio: Return per unit of downside risk	—	3.57	—
Omega ratio: Gain probability vs. loss probability	—	1.43	—
Calmar ratio: Return relative to maximum drawdown	—	8.37	—
Martin ratio: Return relative to average drawdown	—	16.29	—

Drawdowns

NVDB vs. DLLL - Drawdown Comparison

The maximum NVDB drawdown since its inception was -42.89%, smaller than the maximum DLLL drawdown of -68.58%. Use the drawdown chart below to compare losses from any high point for NVDB and DLLL.

Drawdown Indicators

	NVDB	DLLL	Difference
Max Drawdown Largest peak-to-trough decline	-42.89%	-68.58%	+25.69%
Max Drawdown (1Y) Largest decline over 1 year	—	-57.19%	—
Current Drawdown Current decline from peak	-31.90%	-32.31%	+0.41%
Average Drawdown Average peak-to-trough decline	-20.44%	-25.81%	+5.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	29.32%	—

Volatility

Volatility by Period

	NVDB	DLLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	52.08%	—
Volatility (6M) Calculated over the trailing 6-month period	—	114.38%	—
Volatility (1Y) Calculated over the trailing 1-year period	74.23%	140.57%	-66.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	74.23%	132.69%	-58.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	74.23%	132.69%	-58.46%

NVDB vs. DLLL - Expense Ratio Comparison

NVDB has a 0.95% expense ratio, which is lower than DLLL's 1.50% expense ratio.

Dividends

NVDB vs. DLLL - Dividend Comparison

NVDB's dividend yield for the trailing twelve months is around 1.63%, while DLLL has not paid dividends to shareholders.

Position	TTM	2025
DLLL GraniteShares 2x Long DELL Daily ETF	0.00%	0.00%
NVDB ProShares Ultra NVDA	1.63%	0.55%

Frequently Asked Questions

Can I hold both NVDB and DLLL in my portfolio?

NVDB and DLLL have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NVDB or DLLL?

On fees, NVDB is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NVDB or DLLL?

NVDB is cheaper with a 0.95% expense ratio, compared with 1.50% for DLLL.

Which ETF pays a higher dividend yield, NVDB or DLLL?

NVDB has the higher dividend yield at 1.63%, compared with 0.00% for DLLL.

What is the main difference between NVDB and DLLL?

NVDB tracks NVIDIA Corporation, while DLLL tracks Dell Technologies Inc. (DELL). They also come from different issuers: ProShares and GraniteShares. Their fees differ too: 0.95% for NVDB and 1.50% for DLLL.