NVDB vs. SPCH

Last updated Aug 2, 2026

NVDB (ProShares Ultra NVDA) and SPCH (Leverage Shares 2X Long SPCX Daily ETF) are both Leveraged Equities funds. NVDB is passively managed, while SPCH is actively managed. Their 0.06 correlation means their historical movements had little consistent relationship. NVDB charges 0.95%/yr vs 0.75%/yr for SPCH.

Performance

NVDB vs. SPCH - Performance Comparison

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

Returns By Period

NVDB

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

SPCH

• 1D: -6.85%
• 1M: -56.99%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*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)
NVDB ProShares Ultra NVDA	$471.67K	$569.36K	$937.39K
SPCH Leverage Shares 2X Long SPCX Daily ETF	$161.11M	$174.62M	$340.05M

NVDB vs. SPCH - Yearly Performance Comparison

	2026 (YTD)
NVDB ProShares Ultra NVDA	-7.71%
SPCH Leverage Shares 2X Long SPCX Daily ETF	-67.91%

Correlation

The correlation between NVDB and SPCH is 0.06, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 15, 2026	0.06

Return for Risk

NVDB vs. SPCH - Risk-Adjusted Trends Comparison

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

The maximum NVDB drawdown since its inception was -42.89%, smaller than the maximum SPCH drawdown of -74.51%. Use the drawdown chart below to compare losses from any high point for NVDB and SPCH.

Drawdown Indicators

	NVDB	SPCH	Difference
Max Drawdown Largest peak-to-trough decline	-42.89%	-74.51%	+31.62%
Current Drawdown Current decline from peak	-31.90%	-74.51%	+42.61%
Average Drawdown Average peak-to-trough decline	-20.44%	-50.31%	+29.87%

Volatility

Volatility by Period

	NVDB	SPCH	Difference
Volatility (1Y) Calculated over the trailing 1-year period	74.23%	149.54%	-75.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	74.23%	149.54%	-75.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	74.23%	149.54%	-75.31%

NVDB vs. SPCH - Expense Ratio Comparison

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

Dividends

NVDB vs. SPCH - Dividend Comparison

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

Position	TTM	2025
NVDB ProShares Ultra NVDA	1.63%	0.55%
SPCH Leverage Shares 2X Long SPCX Daily ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both NVDB and SPCH in my portfolio?

NVDB and SPCH have a correlation of 0.06, 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 SPCH?

On fees, SPCH 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 SPCH?

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

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

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

What is the main difference between NVDB and SPCH?

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