NVDD vs. IOO
NVDD (Direxion Daily NVDA Bear 1X Shares) and IOO (iShares Global 100 ETF) are both exchange-traded funds - NVDD is a Inverse Equities fund actively managed by Direxion, while IOO is a Global Equities fund tracking the S&P Global 100 Index (Net). NVDD is actively managed, while IOO is passively managed. Over the past year, NVDD returned -21.26% vs 27.86% for IOO. At a correlation of -0.72, they often move in opposite directions. NVDD charges 1.01%/yr vs 0.40%/yr for IOO.
Performance
NVDD vs. IOO - Performance Comparison
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Returns By Period
In the year-to-date period, NVDD achieves a -13.46% return, which is significantly lower than IOO's 10.67% return.
NVDD
- 1D
- 2.35%
- 1M
- -0.49%
- 6M
- -13.32%
- YTD
- -13.46%
- 1Y
- -21.26%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IOO
- 1D
- -0.89%
- 1M
- 0.29%
- 6M
- 9.29%
- YTD
- 10.67%
- 1Y
- 27.86%
- 3Y*
- 23.22%
- 5Y*
- 15.70%
- 10Y*
- 16.21%
NVDD vs. IOO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
NVDD Direxion Daily NVDA Bear 1X Shares | -13.46% | -38.72% | -69.77% | -8.97% |
IOO iShares Global 100 ETF | 10.67% | 27.02% | 26.54% | 6.64% |
Correlation
The correlation between NVDD and IOO is -0.68, 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 | -0.68 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023 | -0.72 |
The correlation between NVDD and IOO has been stable across timeframes, ranging from -0.72 to -0.68 - a consistent structural relationship.
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Return for Risk
NVDD vs. IOO — Risk / Return Rank
NVDD
IOO
NVDD vs. IOO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily NVDA Bear 1X Shares (NVDD) and iShares Global 100 ETF (IOO). 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.
| NVDD | IOO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.55 | ||
| Sortino ratioReturn per unit of downside risk | -3.36 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.34 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | -0.67 | 2.82 | -3.49 |
| Martin ratioReturn relative to average drawdown | -1.47 | 10.92 | -12.40 |
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Drawdowns
NVDD vs. IOO - Drawdown Comparison
The maximum NVDD drawdown since its inception was -88.34%, which is greater than IOO's maximum drawdown of -55.85%. Use the drawdown chart below to compare losses from any high point for NVDD and IOO.
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Drawdown Indicators
| NVDD | IOO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.34% | -55.85% | -32.49% |
Max Drawdown (1Y)Largest decline over 1 year | -31.63% | -9.94% | -21.69% |
Max Drawdown (3Y)Largest decline over 3 years | — | -19.19% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -23.52% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -31.43% | — |
Current DrawdownCurrent decline from peak | -86.97% | -2.73% | -84.24% |
Average DrawdownAverage peak-to-trough decline | -67.74% | -11.23% | -56.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.46% | 2.56% | +11.90% |
Volatility
NVDD vs. IOO - Volatility Comparison
Direxion Daily NVDA Bear 1X Shares (NVDD) has a higher volatility of 11.21% compared to iShares Global 100 ETF (IOO) at 4.03%. This indicates that NVDD's price experiences larger fluctuations and is considered to be riskier than IOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NVDD | IOO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.21% | 4.03% | +7.18% |
Volatility (6M)Calculated over the trailing 6-month period | 27.81% | 11.72% | +16.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.67% | 14.35% | +21.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.16% | 17.19% | +29.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.16% | 17.70% | +29.46% |
NVDD vs. IOO - Expense Ratio Comparison
NVDD has a 1.01% expense ratio, which is higher than IOO's 0.40% expense ratio.
Dividends
NVDD vs. IOO - Dividend Comparison
NVDD's dividend yield for the trailing twelve months is around 3.77%, more than IOO's 0.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IOO iShares Global 100 ETF | 0.84% | 0.92% | 1.08% | 1.49% | 2.00% | 1.53% | 1.49% | 2.02% | 2.54% | 2.23% | 2.75% | 2.89% |
NVDD Direxion Daily NVDA Bear 1X Shares | 3.77% | 4.19% | 4.83% | 1.31% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NVDD and IOO have a correlation of -0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NVDD has higher volatility (11.21%) compared to IOO (4.03%). In terms of maximum drawdown, NVDD dropped -88.34% vs IOO's -55.85%.
On 1-year performance, IOO leads with 27.86% vs -21.26% for NVDD. On fees, IOO is cheaper at 0.40% per year. On volatility, IOO has been the lower-risk option at 4.03%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IOO has performed better with a 27.86% return vs -21.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IOO is cheaper with a 0.40% expense ratio, compared with 1.01% for NVDD.
NVDD has the higher dividend yield at 3.77%, compared with 0.84% for IOO.
NVDD is categorized as Inverse Equities, while IOO is Global Equities. They also come from different issuers: Direxion and iShares. Their fees differ too: 1.01% for NVDD and 0.40% for IOO.
IOO currently has the higher Sharpe Ratio (1.95 vs -0.60), 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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