NVDD vs. NVDS

Last updated Apr 2, 2026

Compare and contrast key facts about Direxion Daily NVDA Bear 1X Shares (NVDD) and Tradr 1.25X NVDA Bear Daily ETF (NVDS).

NVDD and NVDS 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. NVDS is a passively managed fund by AXS that tracks the performance of the NVIDIA Corporation (-125%). It was launched on Jul 13, 2022.

Performance

NVDD vs. NVDS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily NVDA Bear 1X Shares (NVDD) and Tradr 1.25X NVDA Bear Daily ETF (NVDS). The values are adjusted to include any dividend payments, if applicable.

NVDD vs. NVDS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NVDD Direxion Daily NVDA Bear 1X Shares	4.66%	-38.72%	-69.77%	-8.79%
NVDS Tradr 1.25X NVDA Bear Daily ETF	4.50%	-58.18%	-80.03%	-11.16%

Returns By Period

The year-to-date returns for both stocks are quite close, with NVDD having a 4.66% return and NVDS slightly lower at 4.50%.

NVDD

• 1D: -0.89%
• 1M: 3.31%
• YTD: 4.66%
• 6M: 3.70%
• 1Y: -42.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NVDS

• 1D: -1.15%
• 1M: 4.35%
• YTD: 4.50%
• 6M: 0.81%
• 1Y: -61.30%
• 3Y*: -66.92%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

NVDD vs. NVDS - Expense Ratio Comparison

NVDD has a 1.01% expense ratio, which is lower than NVDS's 1.15% expense ratio.

NVDS

Tradr 1.25X NVDA Bear Daily ETF

NVDD

Direxion Daily NVDA Bear 1X Shares

Return for Risk

NVDD vs. NVDS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NVDD

NVDD Risk / Return Rank: 1
NVDD Sharpe Ratio Rank: 0
NVDD Sortino Ratio Rank: 1
NVDD Omega Ratio Rank: 1
NVDD Calmar Ratio Rank: 1
NVDD Martin Ratio Rank: 4

NVDS

NVDS Risk / Return Rank: 1
NVDS Sharpe Ratio Rank: 0
NVDS Sortino Ratio Rank: 1
NVDS Omega Ratio Rank: 1
NVDS Calmar Ratio Rank: 1
NVDS Martin Ratio Rank: 4

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NVDD vs. NVDS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily NVDA Bear 1X Shares (NVDD) and Tradr 1.25X NVDA Bear Daily ETF (NVDS). 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	NVDS	Difference
Sharpe ratio Return per unit of total volatility	-1.04	-1.00	-0.04
Sortino ratio Return per unit of downside risk	-1.47	-1.58	+0.10
Omega ratio Gain probability vs. loss probability	0.82	0.80	+0.01
Calmar ratio Return relative to maximum drawdown	-0.76	-0.84	+0.08
Martin ratio Return relative to average drawdown	-0.93	-0.99	+0.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NVDD vs. NVDS - Sharpe Ratio Comparison

The current NVDD Sharpe Ratio is -1.04, which is comparable to the NVDS Sharpe Ratio of -1.00. The chart below compares the historical Sharpe Ratios of NVDD and NVDS, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	NVDD	NVDS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.04	-1.00	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	-1.03	-1.00	-0.03

Correlation

The correlation between NVDD and NVDS is 1.00, 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.

Dividends

NVDD vs. NVDS - Dividend Comparison

NVDD's dividend yield for the trailing twelve months is around 3.42%, less than NVDS's 13.58% yield.

	TTM	2025	2024	2023	2022
NVDD Direxion Daily NVDA Bear 1X Shares	3.42%	4.19%	4.83%	1.31%	0.00%
NVDS Tradr 1.25X NVDA Bear Daily ETF	13.58%	14.19%	14.11%	14.69%	5.72%

Drawdowns

NVDD vs. NVDS - Drawdown Comparison

The maximum NVDD drawdown since its inception was -86.33%, smaller than the maximum NVDS drawdown of -99.20%. Use the drawdown chart below to compare losses from any high point for NVDD and NVDS.

Drawdown Indicators

	NVDD	NVDS	Difference
Max Drawdown Largest peak-to-trough decline	-86.33%	-99.20%	+12.87%
Max Drawdown (1Y) Largest decline over 1 year	-57.03%	-73.78%	+16.75%
Current Drawdown Current decline from peak	-84.24%	-99.04%	+14.80%
Average Drawdown Average peak-to-trough decline	-65.72%	-82.67%	+16.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	46.60%	62.62%	-16.02%

Volatility

NVDD vs. NVDS - Volatility Comparison

The current volatility for Direxion Daily NVDA Bear 1X Shares (NVDD) is 10.50%, while Tradr 1.25X NVDA Bear Daily ETF (NVDS) has a volatility of 15.70%. This indicates that NVDD experiences smaller price fluctuations and is considered to be less risky than NVDS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NVDD	NVDS	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.50%	15.70%	-5.20%
Volatility (6M) Calculated over the trailing 6-month period	25.84%	38.76%	-12.92%
Volatility (1Y) Calculated over the trailing 1-year period	41.21%	61.42%	-20.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.01%	69.38%	-21.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.01%	69.38%	-21.37%