NVDB vs. MVLL

Last updated Jun 6, 2026

NVDB (ProShares Ultra NVDA) and MVLL (GraniteShares 2x Long MRVL Daily ETF) are both Leveraged Equities funds - NVDB tracks the NVIDIA Corporation while MVLL tracks the Marvell Technology Inc. (MRVL). Both are passively managed. At a 0.37 correlation, their price movements are largely independent. NVDB charges 0.95%/yr vs 1.50%/yr for MVLL.

Performance

NVDB vs. MVLL - Performance Comparison

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

Returns By Period

In the year-to-date period, NVDB achieves a 8.52% return, which is significantly lower than MVLL's 590.25% return.

NVDB

• 1D: -11.96%
• 1M: -4.46%
• YTD: 8.52%
• 6M: 12.10%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MVLL

• 1D: -33.13%
• 1M: 99.48%
• YTD: 590.25%
• 6M: 396.79%
• 1Y: 787.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NVDB vs. MVLL - Yearly Performance Comparison

	2026 (YTD)	2025
NVDB ProShares Ultra NVDA	8.52%	2.15%
MVLL GraniteShares 2x Long MRVL Daily ETF	590.25%	40.33%

Correlation

The correlation between NVDB and MVLL is 0.37, 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 Sep 11, 2025	0.37

Return for Risk

NVDB vs. MVLL — Risk / Return Rank

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

MVLL

MVLL Risk / Return Rank: 94
MVLL Sharpe Ratio Rank: 98
MVLL Sortino Ratio Rank: 89
MVLL Omega Ratio Rank: 89
MVLL Calmar Ratio Rank: 98
MVLL Martin Ratio Rank: 96

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.

NVDB vs. MVLL - Risk-Adjusted Trends Comparison

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

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

Sharpe Ratios by Period

	NVDB	MVLL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	5.79	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.20	2.35	-2.14

Drawdowns

NVDB vs. MVLL - Drawdown Comparison

The maximum NVDB drawdown since its inception was -42.89%, smaller than the maximum MVLL drawdown of -59.02%. Use the drawdown chart below to compare losses from any high point for NVDB and MVLL.

Drawdown Indicators

	NVDB	MVLL	Difference
Max Drawdown Largest peak-to-trough decline	-42.89%	-59.02%	+16.13%
Max Drawdown (1Y) Largest decline over 1 year	—	-48.93%	—
Current Drawdown Current decline from peak	-25.33%	-33.13%	+7.80%
Average Drawdown Average peak-to-trough decline	-18.84%	-22.38%	+3.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	23.55%	—

Volatility

Volatility by Period

	NVDB	MVLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	76.12%	—
Volatility (6M) Calculated over the trailing 6-month period	—	104.23%	—
Volatility (1Y) Calculated over the trailing 1-year period	74.10%	137.34%	-63.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	74.10%	142.73%	-68.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	74.10%	142.73%	-68.63%

NVDB vs. MVLL - Expense Ratio Comparison

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

Dividends

NVDB vs. MVLL - Dividend Comparison

NVDB's dividend yield for the trailing twelve months is around 1.00%, while MVLL has not paid dividends to shareholders.

Position	TTM	2025
MVLL GraniteShares 2x Long MRVL Daily ETF	0.00%	0.00%
NVDB ProShares Ultra NVDA	1.00%	0.55%

Frequently Asked Questions

Can I hold both NVDB and MVLL in my portfolio?

NVDB and MVLL have a correlation of 0.37, 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 MVLL?

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 MVLL?

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

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

NVDB has the higher dividend yield at 1.00%, compared with 0.00% for MVLL.

What is the main difference between NVDB and MVLL?

NVDB tracks NVIDIA Corporation, while MVLL tracks Marvell Technology Inc. (MRVL). They also come from different issuers: ProShares and GraniteShares. Their fees differ too: 0.95% for NVDB and 1.50% for MVLL.