NVDG vs. NVDU

Last updated Jun 24, 2026

NVDG (Leverage Shares 2X Long NVDA Daily ETF) and NVDU (Direxion Daily NVDA Bull 2X Shares ETF) are both Leveraged Equities funds. Both are actively managed. Over the past year, NVDG returned 51.22% vs 51.92% for NVDU. With a 1.00 correlation, they move nearly in lockstep. NVDG charges 0.75%/yr vs 1.04%/yr for NVDU.

Performance

NVDG vs. NVDU - Performance Comparison

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

Returns By Period

In the year-to-date period, NVDG achieves a 1.66% return, which is significantly lower than NVDU's 2.08% return.

NVDG

• 1D: -8.30%
• 1M: -15.70%
• YTD: 1.66%
• 6M: -1.47%
• 1Y: 51.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NVDU

• 1D: -8.71%
• 1M: -16.05%
• YTD: 2.08%
• 6M: -1.18%
• 1Y: 51.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NVDG vs. NVDU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NVDG Leverage Shares 2X Long NVDA Daily ETF	1.66%	32.45%	-0.52%
NVDU Direxion Daily NVDA Bull 2X Shares ETF	2.08%	33.65%	-5.53%

Correlation

The correlation between NVDG and NVDU 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 Dec 13, 2024	1.00

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

Return for Risk

NVDG vs. NVDU — Risk / Return Rank

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

NVDG

NVDG Risk / Return Rank: 24
NVDG Sharpe Ratio Rank: 22
NVDG Sortino Ratio Rank: 26
NVDG Omega Ratio Rank: 25
NVDG Calmar Ratio Rank: 26
NVDG Martin Ratio Rank: 22

NVDU

NVDU Risk / Return Rank: 24
NVDU Sharpe Ratio Rank: 22
NVDU Sortino Ratio Rank: 26
NVDU Omega Ratio Rank: 25
NVDU Calmar Ratio Rank: 26
NVDU Martin Ratio Rank: 22

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.

NVDG vs. NVDU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long NVDA Daily ETF (NVDG) and Direxion Daily NVDA Bull 2X Shares ETF (NVDU). 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.

	NVDG	NVDU	Difference
Sharpe ratio: Return per unit of total volatility	0.73	0.74	-0.01
Sortino ratio: Return per unit of downside risk	1.39	1.40	-0.01
Omega ratio: Gain probability vs. loss probability	1.17	1.17	0.00
Calmar ratio: Return relative to maximum drawdown	1.20	1.23	-0.03
Martin ratio: Return relative to average drawdown	2.62	2.70	-0.08

NVDG vs. NVDU - Sharpe Ratio Comparison

The current NVDG Sharpe Ratio is 0.73, which is comparable to the NVDU Sharpe Ratio of 0.74. The chart below compares the historical Sharpe Ratios of NVDG and NVDU, 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

NVDG vs. NVDU - Drawdown Comparison

The maximum NVDG drawdown since its inception was -66.19%, roughly equal to the maximum NVDU drawdown of -67.27%. Use the drawdown chart below to compare losses from any high point for NVDG and NVDU.

Drawdown Indicators

	NVDG	NVDU	Difference
Max Drawdown Largest peak-to-trough decline	-66.19%	-67.27%	+1.08%
Max Drawdown (1Y) Largest decline over 1 year	-42.72%	-42.27%	-0.45%
Current Drawdown Current decline from peak	-30.20%	-30.48%	+0.28%
Average Drawdown Average peak-to-trough decline	-23.05%	-18.91%	-4.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.59%	19.30%	+0.29%

Volatility

NVDG vs. NVDU - Volatility Comparison

Leverage Shares 2X Long NVDA Daily ETF (NVDG) and Direxion Daily NVDA Bull 2X Shares ETF (NVDU) have volatilities of 26.07% and 26.33%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NVDG	NVDU	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.07%	26.33%	-0.26%
Volatility (6M) Calculated over the trailing 6-month period	52.86%	53.28%	-0.42%
Volatility (1Y) Calculated over the trailing 1-year period	70.20%	70.48%	-0.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	90.59%	91.03%	-0.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	90.59%	91.03%	-0.44%

NVDG vs. NVDU - Expense Ratio Comparison

NVDG has a 0.75% expense ratio, which is lower than NVDU's 1.04% expense ratio.

Dividends

NVDG vs. NVDU - Dividend Comparison

NVDG's dividend yield for the trailing twelve months is around 11.62%, more than NVDU's 5.68% yield.

Position	TTM	2025	2024	2023
NVDG Leverage Shares 2X Long NVDA Daily ETF	11.62%	11.81%	0.00%	0.00%
NVDU Direxion Daily NVDA Bull 2X Shares ETF	5.17%	5.68%	16.85%	0.63%

Frequently Asked Questions

Can I hold both NVDG and NVDU in my portfolio?

With a correlation of 1.00, NVDG and NVDU 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, NVDG or NVDU?

NVDU has higher volatility (26.33%) compared to NVDG (26.07%). In terms of maximum drawdown, NVDG dropped -66.19% vs NVDU's -67.27%.

Which ETF is better, NVDG or NVDU?

On 1-year performance, NVDU leads with 51.92% vs 51.22% for NVDG. On fees, NVDG is cheaper at 0.75% per year. On volatility, NVDG has been the lower-risk option at 26.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NVDG or NVDU?

Over the 1-year period, NVDU has performed better with a 51.92% return vs 51.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NVDG or NVDU?

NVDG is cheaper with a 0.75% expense ratio, compared with 1.04% for NVDU.

Which ETF pays a higher dividend yield, NVDG or NVDU?

NVDG has the higher dividend yield at 11.62%, compared with 5.68% for NVDU.

What is the main difference between NVDG and NVDU?

They also come from different issuers: Leverage Shares and Direxion. Their fees differ too: 0.75% for NVDG and 1.04% for NVDU.

Which has better risk-adjusted returns?

NVDU currently has the higher Sharpe Ratio (0.74 vs 0.73), 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.