NVDG vs. ORLG

Last updated Jul 17, 2026

NVDG (Leverage Shares 2X Long NVDA Daily ETF) and ORLG (Leverage Shares 2X Long ORLY Daily ETF) are both Leveraged Equities funds from Leverage Shares. NVDG is actively managed, while ORLG is passively managed. At a correlation of -0.10, they often move in opposite directions. Both charge a 0.75% expense ratio.

Performance

NVDG vs. ORLG - Performance Comparison

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

Returns By Period

NVDG

• 1D: -4.74%
• 1M: -2.22%
• 6M: 7.61%
• YTD: 7.36%
• 1Y: 14.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ORLG

• 1D: 8.37%
• 1M: -11.93%
• 6M: -23.86%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NVDG vs. ORLG - Yearly Performance Comparison

	2026 (YTD)
NVDG Leverage Shares 2X Long NVDA Daily ETF	12.01%
ORLG Leverage Shares 2X Long ORLY Daily ETF	-25.87%

Correlation

The correlation between NVDG and ORLG is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 15, 2026	-0.10

Return for Risk

NVDG vs. ORLG — Risk / Return Rank

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

NVDG

NVDG Risk / Return Rank: 15
NVDG Sharpe Ratio Rank: 13
NVDG Sortino Ratio Rank: 18
NVDG Omega Ratio Rank: 17
NVDG Calmar Ratio Rank: 14
NVDG Martin Ratio Rank: 14

ORLG

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. ORLG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long NVDA Daily ETF (NVDG) and Leverage Shares 2X Long ORLY Daily ETF (ORLG). 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	ORLG	Difference
Sharpe ratio: Return per unit of total volatility	0.21	—	—
Sortino ratio: Return per unit of downside risk	0.80	—	—
Omega ratio: Gain probability vs. loss probability	1.09	—	—
Calmar ratio: Return relative to maximum drawdown	0.34	—	—
Martin ratio: Return relative to average drawdown	0.70	—	—

Drawdowns

NVDG vs. ORLG - Drawdown Comparison

The maximum NVDG drawdown since its inception was -66.19%, which is greater than ORLG's maximum drawdown of -39.93%. Use the drawdown chart below to compare losses from any high point for NVDG and ORLG.

Drawdown Indicators

	NVDG	ORLG	Difference
Max Drawdown Largest peak-to-trough decline	-66.19%	-39.93%	-26.26%
Max Drawdown (1Y) Largest decline over 1 year	-42.72%	—	—
Current Drawdown Current decline from peak	-26.28%	-34.91%	+8.63%
Average Drawdown Average peak-to-trough decline	-23.33%	-20.65%	-2.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	21.01%	—	—

Volatility

Volatility by Period

	NVDG	ORLG	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.21%	—	—
Volatility (6M) Calculated over the trailing 6-month period	54.70%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	70.83%	59.08%	+11.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	89.97%	59.08%	+30.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	89.97%	59.08%	+30.89%

NVDG vs. ORLG - Expense Ratio Comparison

Both NVDG and ORLG have an expense ratio of 0.75%.

Dividends

NVDG vs. ORLG - Dividend Comparison

NVDG's dividend yield for the trailing twelve months is around 11.00%, while ORLG has not paid dividends to shareholders.

Position	TTM	2025
NVDG Leverage Shares 2X Long NVDA Daily ETF	11.00%	11.81%
ORLG Leverage Shares 2X Long ORLY Daily ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both NVDG and ORLG in my portfolio?

NVDG and ORLG have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NVDG or ORLG?

Both ETFs have the same 0.75% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NVDG or ORLG?

NVDG and ORLG have the same expense ratio: 0.75% per year.

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

NVDG has the higher dividend yield at 11.00%, compared with 0.00% for ORLG.