NVDD vs. IXN
NVDD (Direxion Daily NVDA Bear 1X Shares) and IXN (iShares Global Tech ETF) are both exchange-traded funds - NVDD is a Inverse Equities fund actively managed by Direxion, while IXN is a Technology Equities fund tracking the S&P Global Information Technology Sector Index. NVDD is actively managed, while IXN is passively managed. Over the past year, NVDD returned -36.57% vs 74.57% for IXN. At a correlation of -0.77, they often move in opposite directions. NVDD charges 1.01%/yr vs 0.46%/yr for IXN.
Performance
NVDD vs. IXN - Performance Comparison
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Returns By Period
In the year-to-date period, NVDD achieves a -15.52% return, which is significantly lower than IXN's 41.18% return.
NVDD
- 1D
- 3.54%
- 1M
- -8.53%
- YTD
- -15.52%
- 6M
- -18.71%
- 1Y
- -36.57%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IXN
- 1D
- -1.00%
- 1M
- 21.36%
- YTD
- 41.18%
- 6M
- 41.72%
- 1Y
- 74.57%
- 3Y*
- 36.05%
- 5Y*
- 23.25%
- 10Y*
- 25.57%
NVDD vs. IXN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
NVDD Direxion Daily NVDA Bear 1X Shares | -15.52% | -38.72% | -69.77% | -8.79% |
IXN iShares Global Tech ETF | 41.18% | 25.25% | 24.84% | 13.59% |
Correlation
The correlation between NVDD and IXN 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 IXN 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. IXN — Risk / Return Rank
NVDD
IXN
NVDD vs. IXN - 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 Tech ETF (IXN). 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 | IXN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.49 | ||
| Sortino ratioReturn per unit of downside risk | -5.70 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.54 | -0.71 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | 5.43 | -6.30 |
| Martin ratioReturn relative to average drawdown | -1.47 | 18.73 | -20.21 |
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 | IXN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.08 | 3.41 | -4.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.94 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.05 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -1.08 | 0.54 | -1.62 |
Drawdowns
NVDD vs. IXN - Drawdown Comparison
The maximum NVDD drawdown since its inception was -88.34%, which is greater than IXN's maximum drawdown of -55.67%. Use the drawdown chart below to compare losses from any high point for NVDD and IXN.
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Drawdown Indicators
| NVDD | IXN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.34% | -55.67% | -32.67% |
Max Drawdown (1Y)Largest decline over 1 year | -42.53% | -13.80% | -28.73% |
Max Drawdown (3Y)Largest decline over 3 years | — | -25.55% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -36.30% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.30% | — |
Current DrawdownCurrent decline from peak | -87.28% | -1.00% | -86.28% |
Average DrawdownAverage peak-to-trough decline | -67.03% | -11.27% | -55.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.84% | 3.99% | +20.85% |
Volatility
NVDD vs. IXN - Volatility Comparison
Direxion Daily NVDA Bear 1X Shares (NVDD) has a higher volatility of 12.53% compared to iShares Global Tech ETF (IXN) at 7.95%. This indicates that NVDD's price experiences larger fluctuations and is considered to be riskier than IXN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NVDD | IXN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.53% | 7.95% | +4.58% |
Volatility (6M)Calculated over the trailing 6-month period | 25.53% | 17.85% | +7.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.08% | 21.98% | +12.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.41% | 24.84% | +22.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.41% | 24.40% | +23.01% |
NVDD vs. IXN - Expense Ratio Comparison
NVDD has a 1.01% expense ratio, which is higher than IXN's 0.46% expense ratio.
Dividends
NVDD vs. IXN - Dividend Comparison
NVDD's dividend yield for the trailing twelve months is around 4.24%, more than IXN's 0.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IXN iShares Global Tech ETF | 0.74% | 1.04% | 0.43% | 0.55% | 0.81% | 0.58% | 0.63% | 1.06% | 0.94% | 0.93% | 1.03% | 1.12% |
NVDD Direxion Daily NVDA Bear 1X Shares | 4.24% | 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 IXN 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 (12.53%) compared to IXN (7.95%). In terms of maximum drawdown, NVDD dropped -88.34% vs IXN's -55.67%.
On 1-year performance, IXN leads with 74.57% vs -36.57% for NVDD. On fees, IXN is cheaper at 0.46% per year. On volatility, IXN has been the lower-risk option at 7.95%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IXN has performed better with a 74.57% return vs -36.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IXN is cheaper with a 0.46% expense ratio, compared with 1.01% for NVDD.
NVDD has the higher dividend yield at 4.24%, compared with 0.74% for IXN.
NVDD is categorized as Inverse Equities, while IXN is Technology Equities. They also come from different issuers: Direxion and iShares. Their fees differ too: 1.01% for NVDD and 0.46% for IXN.
IXN currently has the higher Sharpe Ratio (3.41 vs -1.08), 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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