NVDD vs. NVD
Compare and contrast key facts about Direxion Daily NVDA Bear 1X Shares (NVDD) and GraniteShares 2x Short NVDA Daily ETF (NVD).
NVDD and NVD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. NVDD is an actively managed fund by Direxion. It was launched on Sep 12, 2023. NVD is an actively managed fund by GraniteShares. It was launched on Aug 21, 2023.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: NVDD or NVD.
Key characteristics
| NVDD | NVD | |
|---|---|---|
| YTD Return | -65.04% | -90.34% |
| 1Y Return | -70.34% | -92.50% |
| Sharpe Ratio | -1.34 | -0.92 |
| Daily Std Dev | 52.03% | 100.16% |
| Max Drawdown | -73.58% | -93.68% |
| Current Drawdown | -71.57% | -92.95% |
Correlation
The correlation between NVDD and NVD is 0.99, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
NVDD vs. NVD - Performance Comparison
In the year-to-date period, NVDD achieves a -65.04% return, which is significantly higher than NVD's -90.34% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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NVDD vs. NVD - Expense Ratio Comparison
NVDD has a 1.01% expense ratio, which is lower than NVD's 1.50% expense ratio.
Risk-Adjusted Performance
NVDD vs. NVD - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily NVDA Bear 1X Shares (NVDD) and GraniteShares 2x Short NVDA Daily ETF (NVD). 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.
Dividends
NVDD vs. NVD - Dividend Comparison
NVDD's dividend yield for the trailing twelve months is around 6.01%, less than NVD's 163.32% yield.
| TTM | 2023 | |
|---|---|---|
NVDD Direxion Daily NVDA Bear 1X Shares | 6.01% | 1.31% |
NVD GraniteShares 2x Short NVDA Daily ETF | 163.32% | 15.78% |
Drawdowns
NVDD vs. NVD - Drawdown Comparison
The maximum NVDD drawdown since its inception was -73.58%, smaller than the maximum NVD drawdown of -93.68%. Use the drawdown chart below to compare losses from any high point for NVDD and NVD. For additional features, visit the drawdowns tool.
Volatility
NVDD vs. NVD - Volatility Comparison
The current volatility for Direxion Daily NVDA Bear 1X Shares (NVDD) is 17.86%, while GraniteShares 2x Short NVDA Daily ETF (NVD) has a volatility of 35.85%. This indicates that NVDD experiences smaller price fluctuations and is considered to be less risky than NVD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.