NVDD vs. SH
Compare and contrast key facts about Direxion Daily NVDA Bear 1X Shares (NVDD) and ProShares Short S&P500 (SH).
NVDD and SH 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. SH is a passively managed fund by ProShares that tracks the performance of the S&P 500 (-100%). It was launched on Jun 19, 2006.
Performance
NVDD vs. SH - Performance Comparison
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NVDD vs. SH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
NVDD Direxion Daily NVDA Bear 1X Shares | 5.60% | -38.72% | -69.77% | -8.79% |
SH ProShares Short S&P500 | 5.77% | -11.35% | -13.52% | -4.55% |
Returns By Period
The year-to-date returns for both investments are quite close, with NVDD having a 5.60% return and SH slightly higher at 5.77%.
NVDD
- 1D
- -5.45%
- 1M
- 1.12%
- YTD
- 5.60%
- 6M
- 4.32%
- 1Y
- -43.00%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SH
- 1D
- -2.82%
- 1M
- 5.57%
- YTD
- 5.77%
- 6M
- 4.49%
- 1Y
- -11.46%
- 3Y*
- -9.86%
- 5Y*
- -7.57%
- 10Y*
- -11.84%
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NVDD vs. SH - Expense Ratio Comparison
NVDD has a 1.01% expense ratio, which is higher than SH's 0.90% expense ratio.
Return for Risk
NVDD vs. SH — Risk / Return Rank
NVDD
SH
NVDD vs. SH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily NVDA Bear 1X Shares (NVDD) and ProShares Short S&P500 (SH). 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 | SH | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -1.05 | -0.63 | -0.41 |
Sortino ratioReturn per unit of downside risk | -1.49 | -0.79 | -0.71 |
Omega ratioGain probability vs. loss probability | 0.81 | 0.89 | -0.07 |
Calmar ratioReturn relative to maximum drawdown | -0.75 | -0.45 | -0.30 |
Martin ratioReturn relative to average drawdown | -0.91 | -0.55 | -0.37 |
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 | SH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.05 | -0.63 | -0.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.45 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.66 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -1.03 | -0.56 | -0.47 |
Correlation
The correlation between NVDD and SH is 0.64, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
NVDD vs. SH - Dividend Comparison
NVDD's dividend yield for the trailing twelve months is around 3.39%, less than SH's 3.92% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NVDD Direxion Daily NVDA Bear 1X Shares | 3.39% | 4.19% | 4.83% | 1.31% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SH ProShares Short S&P500 | 3.92% | 4.49% | 6.20% | 5.37% | 1.08% | 0.00% | 0.16% | 1.76% | 1.01% | 0.06% |
Drawdowns
NVDD vs. SH - Drawdown Comparison
The maximum NVDD drawdown since its inception was -86.33%, smaller than the maximum SH drawdown of -94.26%. Use the drawdown chart below to compare losses from any high point for NVDD and SH.
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Drawdown Indicators
| NVDD | SH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.33% | -94.26% | +7.93% |
Max Drawdown (1Y)Largest decline over 1 year | -57.03% | -26.61% | -30.42% |
Max Drawdown (5Y)Largest decline over 5 years | — | -40.35% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -74.31% | — |
Current DrawdownCurrent decline from peak | -84.09% | -93.82% | +9.73% |
Average DrawdownAverage peak-to-trough decline | -65.69% | -67.49% | +1.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 46.49% | 21.81% | +24.68% |
Volatility
NVDD vs. SH - Volatility Comparison
Direxion Daily NVDA Bear 1X Shares (NVDD) has a higher volatility of 10.52% compared to ProShares Short S&P500 (SH) at 5.30%. This indicates that NVDD's price experiences larger fluctuations and is considered to be riskier than SH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NVDD | SH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.52% | 5.30% | +5.22% |
Volatility (6M)Calculated over the trailing 6-month period | 25.96% | 9.43% | +16.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 41.21% | 18.17% | +23.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 48.05% | 16.87% | +31.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 48.05% | 17.99% | +30.06% |