NVDB vs. NVDG

Last updated Jul 12, 2026

NVDB (ProShares Ultra NVDA) and NVDG (Leverage Shares 2X Long NVDA Daily ETF) are both Leveraged Equities funds. NVDB is passively managed, while NVDG is actively managed. With a 0.99 correlation, they move nearly in lockstep. NVDB charges 0.95%/yr vs 0.75%/yr for NVDG.

Performance

NVDB vs. NVDG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra NVDA (NVDB) and Leverage Shares 2X Long NVDA Daily ETF (NVDG). 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 lower than NVDG's 11.81% return.

NVDB

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

NVDG

• 1D: 7.84%
• 1M: 4.03%
• 6M: 14.39%
• YTD: 11.81%
• 1Y: 28.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NVDB vs. NVDG - Yearly Performance Comparison

	2026 (YTD)	2025
NVDB ProShares Ultra NVDA	11.22%	1.98%
NVDG Leverage Shares 2X Long NVDA Daily ETF	11.81%	10.34%

Correlation

The correlation between NVDB and NVDG is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 10, 2025	0.99

Return for Risk

NVDB vs. NVDG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments 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.

NVDG

NVDG Risk / Return Rank: 20
NVDG Sharpe Ratio Rank: 17
NVDG Sortino Ratio Rank: 23
NVDG Omega Ratio Rank: 21
NVDG Calmar Ratio Rank: 20
NVDG Martin Ratio Rank: 18

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. NVDG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra NVDA (NVDB) and Leverage Shares 2X Long NVDA Daily ETF (NVDG). 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	NVDG	Difference
Sharpe ratio: Return per unit of total volatility	—	0.42	—
Sortino ratio: Return per unit of downside risk	—	1.06	—
Omega ratio: Gain probability vs. loss probability	—	1.12	—
Calmar ratio: Return relative to maximum drawdown	—	0.70	—
Martin ratio: Return relative to average drawdown	—	1.43	—

Drawdowns

NVDB vs. NVDG - Drawdown Comparison

The maximum NVDB drawdown since its inception was -42.89%, smaller than the maximum NVDG drawdown of -66.19%. Use the drawdown chart below to compare losses from any high point for NVDB and NVDG.

Drawdown Indicators

	NVDB	NVDG	Difference
Max Drawdown Largest peak-to-trough decline	-42.89%	-66.19%	+23.30%
Max Drawdown (1Y) Largest decline over 1 year	—	-42.72%	—
Current Drawdown Current decline from peak	-23.47%	-23.23%	-0.24%
Average Drawdown Average peak-to-trough decline	-19.82%	-23.31%	+3.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	20.77%	—

Volatility

Volatility by Period

	NVDB	NVDG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	21.42%	—
Volatility (6M) Calculated over the trailing 6-month period	—	53.55%	—
Volatility (1Y) Calculated over the trailing 1-year period	73.49%	70.25%	+3.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	73.49%	89.90%	-16.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.49%	89.90%	-16.41%

NVDB vs. NVDG - Expense Ratio Comparison

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

Dividends

NVDB vs. NVDG - Dividend Comparison

NVDB's dividend yield for the trailing twelve months is around 1.45%, less than NVDG's 10.56% yield.

Position	TTM	2025
NVDB ProShares Ultra NVDA	1.45%	0.55%
NVDG Leverage Shares 2X Long NVDA Daily ETF	10.56%	11.81%

Frequently Asked Questions

Can I hold both NVDB and NVDG in my portfolio?

With a correlation of 0.99, NVDB and NVDG move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, NVDB or NVDG?

On fees, NVDG 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 NVDG?

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

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

NVDG has the higher dividend yield at 10.56%, compared with 1.45% for NVDB.

What is the main difference between NVDB and NVDG?

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