NVDD vs. TERG

Last updated Apr 1, 2026

Compare and contrast key facts about Direxion Daily NVDA Bear 1X Shares (NVDD) and Leverage Shares 2X Long TER Daily ETF (TERG).

NVDD and TERG 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. TERG is an actively managed fund by Leverage Shares. It was launched on Nov 17, 2025.

Performance

NVDD vs. TERG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily NVDA Bear 1X Shares (NVDD) and Leverage Shares 2X Long TER Daily ETF (TERG). The values are adjusted to include any dividend payments, if applicable.

NVDD vs. TERG - Yearly Performance Comparison

	2026 (YTD)	2025
NVDD Direxion Daily NVDA Bear 1X Shares	5.60%	-0.12%
TERG Leverage Shares 2X Long TER Daily ETF	102.79%	28.17%

Returns By Period

In the year-to-date period, NVDD achieves a 5.60% return, which is significantly lower than TERG's 102.79% return.

NVDD

• 1D: -5.45%
• 1M: 1.12%
• YTD: 5.60%
• 6M: 4.32%
• 1Y: -43.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TERG

• 1D: 14.40%
• 1M: -19.76%
• YTD: 102.79%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NVDD vs. TERG - Expense Ratio Comparison

NVDD has a 1.01% expense ratio, which is higher than TERG's 0.75% expense ratio.

NVDD

Direxion Daily NVDA Bear 1X Shares

TERG

Leverage Shares 2X Long TER Daily ETF

Return for Risk

NVDD vs. TERG — 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: 0
NVDD Sortino Ratio Rank: 1
NVDD Omega Ratio Rank: 1
NVDD Calmar Ratio Rank: 1
NVDD Martin Ratio Rank: 5

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. TERG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily NVDA Bear 1X Shares (NVDD) and Leverage Shares 2X Long TER Daily ETF (TERG). 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	TERG	Difference
Sharpe ratio Return per unit of total volatility	-1.05	—	—
Sortino ratio Return per unit of downside risk	-1.49	—	—
Omega ratio Gain probability vs. loss probability	0.81	—	—
Calmar ratio Return relative to maximum drawdown	-0.75	—	—
Martin ratio Return relative to average drawdown	-0.91	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	NVDD	TERG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.05	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-1.03	10.56	-11.59

Correlation

The correlation between NVDD and TERG is -0.56. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

NVDD vs. TERG - Dividend Comparison

NVDD's dividend yield for the trailing twelve months is around 3.39%, while TERG has not paid dividends to shareholders.

	TTM	2025	2024	2023
NVDD Direxion Daily NVDA Bear 1X Shares	3.39%	4.19%	4.83%	1.31%
TERG Leverage Shares 2X Long TER Daily ETF	0.00%	0.00%	0.00%	0.00%

Drawdowns

NVDD vs. TERG - Drawdown Comparison

The maximum NVDD drawdown since its inception was -86.33%, which is greater than TERG's maximum drawdown of -39.32%. Use the drawdown chart below to compare losses from any high point for NVDD and TERG.

Drawdown Indicators

	NVDD	TERG	Difference
Max Drawdown Largest peak-to-trough decline	-86.33%	-39.32%	-47.01%
Max Drawdown (1Y) Largest decline over 1 year	-57.03%	—	—
Current Drawdown Current decline from peak	-84.09%	-30.58%	-53.51%
Average Drawdown Average peak-to-trough decline	-65.69%	-9.77%	-55.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	46.49%	—	—

Volatility

Volatility by Period

	NVDD	TERG	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.52%	—	—
Volatility (6M) Calculated over the trailing 6-month period	25.96%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	41.21%	124.59%	-83.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.05%	124.59%	-76.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.05%	124.59%	-76.54%