NVDL vs. AVGO
NVDL (GraniteShares 2x Long NVDA Daily ETF) is Leveraged Equities fund actively managed by GraniteShares, while AVGO (Broadcom Inc.) is a stock. Over the past 3 years, NVDL returned 99.48%/yr vs 67.77%/yr for AVGO. A 0.61 correlation means they provide meaningful diversification when combined.
Performance
NVDL vs. AVGO - Performance Comparison
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Returns By Period
In the year-to-date period, NVDL achieves a 16.15% return, which is significantly higher than AVGO's 14.06% return.
NVDL
- 1D
- 7.05%
- 1M
- -12.95%
- YTD
- 16.15%
- 6M
- 28.66%
- 1Y
- 78.08%
- 3Y*
- 99.48%
- 5Y*
- —
- 10Y*
- —
AVGO
- 1D
- 3.11%
- 1M
- -7.35%
- YTD
- 14.06%
- 6M
- 16.39%
- 1Y
- 59.68%
- 3Y*
- 67.77%
- 5Y*
- 56.37%
- 10Y*
- 41.61%
NVDL vs. AVGO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
NVDL GraniteShares 2x Long NVDA Daily ETF | 16.15% | 32.57% | 344.58% | 432.18% | -28.71% |
AVGO Broadcom Inc. | 14.06% | 50.63% | 110.49% | 104.18% | 1.29% |
Correlation
The correlation between NVDL and AVGO is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2022 | 0.61 |
The correlation between NVDL and AVGO has been stable across timeframes, ranging from 0.52 to 0.62 - a consistent structural relationship.
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Return for Risk
NVDL vs. AVGO — Risk / Return Rank
NVDL
AVGO
NVDL vs. AVGO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long NVDA Daily ETF (NVDL) and Broadcom Inc. (AVGO). 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.
| NVDL | AVGO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.19 | ||
| Sortino ratioReturn per unit of downside risk | -0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.25 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.86 | 2.09 | -0.23 |
| Martin ratioReturn relative to average drawdown | 4.15 | 4.85 | -0.70 |
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Drawdowns
NVDL vs. AVGO - Drawdown Comparison
The maximum NVDL drawdown since its inception was -67.55%, which is greater than AVGO's maximum drawdown of -48.30%. Use the drawdown chart below to compare losses from any high point for NVDL and AVGO.
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Drawdown Indicators
| NVDL | AVGO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.55% | -48.30% | -19.25% |
Max Drawdown (1Y)Largest decline over 1 year | -42.23% | -28.67% | -13.56% |
Max Drawdown (3Y)Largest decline over 3 years | -67.55% | -41.15% | -26.40% |
Max Drawdown (5Y)Largest decline over 5 years | — | -41.15% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.30% | — |
Current DrawdownCurrent decline from peak | -20.79% | -18.20% | -2.59% |
Average DrawdownAverage peak-to-trough decline | -17.02% | -7.99% | -9.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.88% | 12.35% | +6.53% |
Volatility
NVDL vs. AVGO - Volatility Comparison
GraniteShares 2x Long NVDA Daily ETF (NVDL) has a higher volatility of 25.91% compared to Broadcom Inc. (AVGO) at 19.97%. This indicates that NVDL's price experiences larger fluctuations and is considered to be riskier than AVGO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NVDL | AVGO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 25.91% | 19.97% | +5.94% |
Volatility (6M)Calculated over the trailing 6-month period | 53.48% | 35.15% | +18.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 70.01% | 45.64% | +24.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 90.45% | 43.42% | +47.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 90.45% | 39.54% | +50.91% |
Dividends
NVDL vs. AVGO - Dividend Comparison
NVDL has not paid dividends to shareholders, while AVGO's dividend yield for the trailing twelve months is around 0.63%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AVGO Broadcom Inc. | 0.63% | 0.70% | 0.94% | 1.71% | 3.02% | 2.24% | 3.05% | 3.54% | 3.11% | 1.87% | 1.43% | 1.13% |
NVDL GraniteShares 2x Long NVDA Daily ETF | 0.00% | 0.00% | 0.00% | 11.29% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NVDL and AVGO have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NVDL has higher volatility (25.91%) compared to AVGO (19.97%). In terms of maximum drawdown, NVDL dropped -67.55% vs AVGO's -48.30%.
AVGO currently has the higher Sharpe Ratio (1.32 vs 1.12), 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.
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