NVDD vs. NVDS

Last updated Jun 24, 2026

NVDD (Direxion Daily NVDA Bear 1X Shares) and NVDS (Tradr 1.25X NVDA Bear Daily ETF) are both Inverse Equities funds. NVDD is actively managed, while NVDS is passively managed. Over the past year, NVDD returned -31.84% vs -47.95% for NVDS. With a 1.00 correlation, they move nearly in lockstep. NVDD charges 1.01%/yr vs 1.15%/yr for NVDS.

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.

Returns By Period

In the year-to-date period, NVDD achieves a -10.62% return, which is significantly higher than NVDS's -18.53% return.

NVDD

• 1D: 3.37%
• 1M: 5.55%
• YTD: -10.62%
• 6M: -9.15%
• 1Y: -31.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NVDS

• 1D: 6.24%
• 1M: 8.67%
• YTD: -18.53%
• 6M: -16.59%
• 1Y: -47.95%
• 3Y*: -62.36%
• 5Y*: —
• 10Y*: —

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

NVDD vs. NVDS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NVDD Direxion Daily NVDA Bear 1X Shares	-10.62%	-38.72%	-69.77%	-8.97%
NVDS Tradr 1.25X NVDA Bear Daily ETF	-18.53%	-58.18%	-80.03%	-12.79%

Correlation

The correlation between NVDD and NVDS is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023	1.00

The correlation between NVDD and NVDS has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

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: 2
NVDD Sharpe Ratio Rank: 2
NVDD Sortino Ratio Rank: 2
NVDD Omega Ratio Rank: 2
NVDD Calmar Ratio Rank: 2
NVDD Martin Ratio Rank: 1

NVDS

NVDS Risk / Return Rank: 2
NVDS Sharpe Ratio Rank: 2
NVDS Sortino Ratio Rank: 2
NVDS Omega Ratio Rank: 2
NVDS Calmar Ratio Rank: 2
NVDS Martin Ratio Rank: 1

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.

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	NVDS	Difference
Sharpe ratio: Return per unit of total volatility	-0.90	-0.90	0.00
Sortino ratio: Return per unit of downside risk	-1.24	-1.31	+0.07
Omega ratio: Gain probability vs. loss probability	0.86	0.85	+0.01
Calmar ratio: Return relative to maximum drawdown	-0.81	-0.85	+0.04
Martin ratio: Return relative to average drawdown	-1.44	-1.41	-0.03

NVDD vs. NVDS - Sharpe Ratio Comparison

The current NVDD Sharpe Ratio is -0.90, which is comparable to the NVDS Sharpe Ratio of -0.90. The chart below compares the historical Sharpe Ratios of NVDD and NVDS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NVDD vs. NVDS - Drawdown Comparison

The maximum NVDD drawdown since its inception was -88.34%, smaller than the maximum NVDS drawdown of -99.40%. 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	-88.34%	-99.40%	+11.06%
Max Drawdown (1Y) Largest decline over 1 year	-39.32%	-56.48%	+17.16%
Max Drawdown (3Y) Largest decline over 3 years	—	-95.90%	—
Current Drawdown Current decline from peak	-86.54%	-99.25%	+12.71%
Average Drawdown Average peak-to-trough decline	-67.31%	-83.59%	+16.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.19%	36.37%	-12.18%

Volatility

NVDD vs. NVDS - Volatility Comparison

The current volatility for Direxion Daily NVDA Bear 1X Shares (NVDD) is 13.05%, while Tradr 1.25X NVDA Bear Daily ETF (NVDS) has a volatility of 20.03%. 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	13.05%	20.03%	-6.98%
Volatility (6M) Calculated over the trailing 6-month period	26.79%	40.67%	-13.88%
Volatility (1Y) Calculated over the trailing 1-year period	35.31%	53.16%	-17.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.36%	68.89%	-21.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.36%	68.89%	-21.53%

NVDD vs. NVDS - Expense Ratio Comparison

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

Dividends

NVDD vs. NVDS - Dividend Comparison

NVDD's dividend yield for the trailing twelve months is around 4.01%, less than NVDS's 17.42% yield.

Position	TTM	2025	2024	2023	2022
NVDD Direxion Daily NVDA Bear 1X Shares	4.01%	4.19%	4.83%	1.31%	0.00%
NVDS Tradr 1.25X NVDA Bear Daily ETF	17.42%	14.19%	14.11%	14.69%	5.72%

Frequently Asked Questions

Can I hold both NVDD and NVDS in my portfolio?

With a correlation of 1.00, NVDD and NVDS move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, NVDD or NVDS?

NVDS has higher volatility (20.03%) compared to NVDD (13.05%). In terms of maximum drawdown, NVDD dropped -88.34% vs NVDS's -99.40%.

Which ETF is better, NVDD or NVDS?

On 1-year performance, NVDD leads with -31.84% vs -47.95% for NVDS. On fees, NVDD is cheaper at 1.01% per year. On volatility, NVDD has been the lower-risk option at 13.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NVDD or NVDS?

Over the 1-year period, NVDD has performed better with a -31.84% return vs -47.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NVDD or NVDS?

NVDD is cheaper with a 1.01% expense ratio, compared with 1.15% for NVDS.

Which ETF pays a higher dividend yield, NVDD or NVDS?

NVDS has the higher dividend yield at 17.42%, compared with 4.01% for NVDD.

What is the main difference between NVDD and NVDS?

They also come from different issuers: Direxion and AXS. Their fees differ too: 1.01% for NVDD and 1.15% for NVDS.

Which has better risk-adjusted returns?

NVDS currently has the higher Sharpe Ratio (-0.90 vs -0.90), 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.