NVDD vs. FFLG
NVDD (Direxion Daily NVDA Bear 1X Shares) and FFLG (Fidelity Fundamental Large Cap Growth ETF) are both exchange-traded funds - NVDD is a Inverse Equities fund actively managed by Direxion, while FFLG is a Large Cap Growth Equities fund actively managed by Fidelity. Both are actively managed. Over the past year, NVDD returned -37.37% vs 38.91% for FFLG. At a correlation of -0.77, they often move in opposite directions. NVDD charges 1.01%/yr vs 0.38%/yr for FFLG.
Performance
NVDD vs. FFLG - Performance Comparison
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Returns By Period
In the year-to-date period, NVDD achieves a -17.07% return, which is significantly lower than FFLG's 17.03% return.
NVDD
- 1D
- -1.83%
- 1M
- -11.14%
- YTD
- -17.07%
- 6M
- -18.48%
- 1Y
- -37.37%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FFLG
- 1D
- 0.46%
- 1M
- 6.72%
- YTD
- 17.03%
- 6M
- 16.08%
- 1Y
- 38.91%
- 3Y*
- 29.35%
- 5Y*
- 12.69%
- 10Y*
- —
NVDD vs. FFLG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
NVDD Direxion Daily NVDA Bear 1X Shares | -17.07% | -38.72% | -69.77% | -8.79% |
FFLG Fidelity Fundamental Large Cap Growth ETF | 17.03% | 19.61% | 32.29% | 10.62% |
Correlation
The correlation between NVDD and FFLG is -0.72, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.72 |
Correlation (All Time) Calculated using the full available price history since Sep 14, 2023 | -0.77 |
The correlation between NVDD and FFLG has been stable across timeframes, ranging from -0.77 to -0.72 - a consistent structural relationship.
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Return for Risk
NVDD vs. FFLG — Risk / Return Rank
NVDD
FFLG
NVDD vs. FFLG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily NVDA Bear 1X Shares (NVDD) and Fidelity Fundamental Large Cap Growth ETF (FFLG). 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.
| NVDD | FFLG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.24 | ||
| Sortino ratioReturn per unit of downside risk | -4.43 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.37 | -0.55 |
| Calmar ratioReturn relative to maximum drawdown | -0.88 | 2.75 | -3.63 |
| Martin ratioReturn relative to average drawdown | -1.50 | 10.74 | -12.24 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NVDD | FFLG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.10 | 2.14 | -3.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.50 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -1.09 | 0.44 | -1.53 |
Drawdowns
NVDD vs. FFLG - Drawdown Comparison
The maximum NVDD drawdown since its inception was -88.34%, which is greater than FFLG's maximum drawdown of -44.52%. Use the drawdown chart below to compare losses from any high point for NVDD and FFLG.
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Drawdown Indicators
| NVDD | FFLG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.34% | -44.52% | -43.82% |
Max Drawdown (1Y)Largest decline over 1 year | -42.53% | -14.23% | -28.30% |
Max Drawdown (3Y)Largest decline over 3 years | — | -26.72% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -44.52% | — |
Current DrawdownCurrent decline from peak | -87.51% | -0.44% | -87.07% |
Average DrawdownAverage peak-to-trough decline | -67.06% | -14.26% | -52.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.95% | 3.63% | +21.32% |
Volatility
NVDD vs. FFLG - Volatility Comparison
Direxion Daily NVDA Bear 1X Shares (NVDD) has a higher volatility of 12.50% compared to Fidelity Fundamental Large Cap Growth ETF (FFLG) at 4.54%. This indicates that NVDD's price experiences larger fluctuations and is considered to be riskier than FFLG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NVDD | FFLG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.50% | 4.54% | +7.96% |
Volatility (6M)Calculated over the trailing 6-month period | 25.58% | 14.11% | +11.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.00% | 18.28% | +15.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.38% | 25.33% | +22.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.38% | 25.38% | +22.00% |
NVDD vs. FFLG - Expense Ratio Comparison
NVDD has a 1.01% expense ratio, which is higher than FFLG's 0.38% expense ratio.
Dividends
NVDD vs. FFLG - Dividend Comparison
NVDD's dividend yield for the trailing twelve months is around 4.32%, more than FFLG's 0.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
FFLG Fidelity Fundamental Large Cap Growth ETF | 0.13% | 0.14% | 0.09% | 0.00% | 1.50% | 0.55% |
NVDD Direxion Daily NVDA Bear 1X Shares | 4.32% | 4.19% | 4.83% | 1.31% | 0.00% | 0.00% |
Frequently Asked Questions
NVDD and FFLG have a correlation of -0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NVDD has higher volatility (12.50%) compared to FFLG (4.54%). In terms of maximum drawdown, NVDD dropped -88.34% vs FFLG's -44.52%.
On 1-year performance, FFLG leads with 38.91% vs -37.37% for NVDD. On fees, FFLG is cheaper at 0.38% per year. On volatility, FFLG has been the lower-risk option at 4.54%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FFLG has performed better with a 38.91% return vs -37.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FFLG is cheaper with a 0.38% expense ratio, compared with 1.01% for NVDD.
NVDD has the higher dividend yield at 4.32%, compared with 0.13% for FFLG.
NVDD is categorized as Inverse Equities, while FFLG is Large Cap Growth Equities. They also come from different issuers: Direxion and Fidelity. Their fees differ too: 1.01% for NVDD and 0.38% for FFLG.
FFLG currently has the higher Sharpe Ratio (2.14 vs -1.10), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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