NVDB vs. GRAG

Last updated Jul 12, 2026

NVDB (ProShares Ultra NVDA) and GRAG (Leverage Shares 2X Long GRAB Daily ETF) are both Leveraged Equities funds. NVDB is passively managed, while GRAG is actively managed. At a 0.25 correlation, their price movements are largely independent. NVDB charges 0.95%/yr vs 0.75%/yr for GRAG.

Performance

NVDB vs. GRAG - Performance Comparison

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

Returns By Period

In the year-to-date period, NVDB achieves a 11.22% return, which is significantly higher than GRAG's -45.71% return.

NVDB

• 1D: 7.86%
• 1M: 3.62%
• 6M: 13.85%
• YTD: 11.22%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GRAG

• 1D: 3.50%
• 1M: 35.16%
• 6M: -41.95%
• YTD: -45.71%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NVDB vs. GRAG - Yearly Performance Comparison

	2026 (YTD)	2025
NVDB ProShares Ultra NVDA	11.22%	1.80%
GRAG Leverage Shares 2X Long GRAB Daily ETF	-45.71%	-5.79%

Correlation

The correlation between NVDB and GRAG is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 11, 2025	0.25

Return for Risk

NVDB vs. GRAG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra NVDA (NVDB) and Leverage Shares 2X Long GRAB Daily ETF (GRAG). 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.

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

Drawdowns

NVDB vs. GRAG - Drawdown Comparison

The maximum NVDB drawdown since its inception was -42.89%, smaller than the maximum GRAG drawdown of -65.33%. Use the drawdown chart below to compare losses from any high point for NVDB and GRAG.

Drawdown Indicators

	NVDB	GRAG	Difference
Max Drawdown Largest peak-to-trough decline	-42.89%	-65.33%	+22.44%
Current Drawdown Current decline from peak	-23.47%	-51.08%	+27.61%
Average Drawdown Average peak-to-trough decline	-19.82%	-42.73%	+22.91%

Volatility

Volatility by Period

	NVDB	GRAG	Difference
Volatility (1Y) Calculated over the trailing 1-year period	73.49%	70.55%	+2.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	73.49%	70.55%	+2.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.49%	70.55%	+2.94%

NVDB vs. GRAG - Expense Ratio Comparison

NVDB has a 0.95% expense ratio, which is higher than GRAG's 0.75% expense ratio.

Dividends

NVDB vs. GRAG - Dividend Comparison

NVDB's dividend yield for the trailing twelve months is around 1.45%, while GRAG has not paid dividends to shareholders.

Position	TTM	2025
GRAG Leverage Shares 2X Long GRAB Daily ETF	0.00%	0.00%
NVDB ProShares Ultra NVDA	1.45%	0.55%

Frequently Asked Questions

Can I hold both NVDB and GRAG in my portfolio?

NVDB and GRAG have a correlation of 0.25, 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 GRAG?

On fees, GRAG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NVDB or GRAG?

GRAG is cheaper with a 0.75% expense ratio, compared with 0.95% for NVDB.

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

NVDB has the higher dividend yield at 1.45%, compared with 0.00% for GRAG.

What is the main difference between NVDB and GRAG?

They also come from different issuers: ProShares and Leverage Shares. Their fees differ too: 0.95% for NVDB and 0.75% for GRAG.