NVDL vs. DPST

Last updated Jun 9, 2026

NVDL (GraniteShares 2x Long NVDA Daily ETF) and DPST (Direxion Daily Regional Banks Bull 3X Shares) are both Leveraged Equities funds. NVDL is actively managed, while DPST is passively managed. Over the past 3 years, NVDL returned 107.15%/yr vs 24.30%/yr for DPST. At a 0.18 correlation, their price movements are largely independent. NVDL charges 1.05%/yr vs 0.99%/yr for DPST.

Performance

NVDL vs. DPST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long NVDA Daily ETF (NVDL) and Direxion Daily Regional Banks Bull 3X Shares (DPST). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NVDL achieves a 12.66% return, which is significantly lower than DPST's 16.34% return.

NVDL

• 1D: 3.38%
• 1M: -8.08%
• YTD: 12.66%
• 6M: 12.29%
• 1Y: 72.86%
• 3Y*: 107.15%
• 5Y*: —
• 10Y*: —

DPST

• 1D: 0.66%
• 1M: 0.10%
• YTD: 16.34%
• 6M: 16.74%
• 1Y: 48.12%
• 3Y*: 24.30%
• 5Y*: -24.46%
• 10Y*: -13.86%

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

NVDL vs. DPST - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
NVDL GraniteShares 2x Long NVDA Daily ETF	12.66%	32.57%	344.58%	432.18%	-28.32%
DPST Direxion Daily Regional Banks Bull 3X Shares	16.34%	-5.90%	15.48%	-55.79%	-3.16%

Correlation

The correlation between NVDL and DPST is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (All Time) Calculated using the full available price history since Dec 14, 2022	0.18

NVDL vs. DPST - Sectors Allocation Comparison

Sectors	NVDL	DPST
Financial Services	100.0%	100.0%
Technology	100.0%	-
Basic Materials	0.0%	-
Communication Services	0.0%	-
Consumer Cyclical	0.0%	-
Consumer Defensive	0.0%	-
Energy	0.0%	-
Healthcare	0.0%	-
Industrials	0.0%	-
Real Estate	0.0%	-
Utilities	0.0%	-

Return for Risk

NVDL vs. DPST — Risk / Return Rank

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

NVDL

NVDL Risk / Return Rank: 34
NVDL Sharpe Ratio Rank: 32
NVDL Sortino Ratio Rank: 35
NVDL Omega Ratio Rank: 34
NVDL Calmar Ratio Rank: 38
NVDL Martin Ratio Rank: 30

DPST

DPST Risk / Return Rank: 25
DPST Sharpe Ratio Rank: 22
DPST Sortino Ratio Rank: 27
DPST Omega Ratio Rank: 28
DPST Calmar Ratio Rank: 27
DPST Martin Ratio Rank: 23

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.

NVDL vs. DPST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long NVDA Daily ETF (NVDL) and Direxion Daily Regional Banks Bull 3X Shares (DPST). 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.

	NVDL	DPST	Difference
Sharpe ratio: Return per unit of total volatility	1.06	0.70	+0.36
Sortino ratio: Return per unit of downside risk	1.70	1.34	+0.36
Omega ratio: Gain probability vs. loss probability	1.20	1.17	+0.03
Calmar ratio: Return relative to maximum drawdown	1.73	1.20	+0.54
Martin ratio: Return relative to average drawdown	3.94	2.66	+1.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NVDL vs. DPST - Sharpe Ratio Comparison

The current NVDL Sharpe Ratio is 1.06, which is higher than the DPST Sharpe Ratio of 0.70. The chart below compares the historical Sharpe Ratios of NVDL and DPST, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NVDL	DPST	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.06	0.70	+0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.27	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.15	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.71	-0.16	+1.87

Drawdowns

NVDL vs. DPST - Drawdown Comparison

The maximum NVDL drawdown since its inception was -67.55%, smaller than the maximum DPST drawdown of -97.73%. Use the drawdown chart below to compare losses from any high point for NVDL and DPST.

Drawdown Indicators

	NVDL	DPST	Difference
Max Drawdown Largest peak-to-trough decline	-67.55%	-97.73%	+30.18%
Max Drawdown (1Y) Largest decline over 1 year	-42.23%	-40.44%	-1.79%
Max Drawdown (3Y) Largest decline over 3 years	-67.55%	-68.38%	+0.83%
Max Drawdown (5Y) Largest decline over 5 years	—	-93.99%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-97.73%	—
Current Drawdown Current decline from peak	-23.17%	-92.87%	+69.70%
Average Drawdown Average peak-to-trough decline	-16.98%	-64.15%	+47.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.54%	18.16%	+0.38%

Volatility

NVDL vs. DPST - Volatility Comparison

GraniteShares 2x Long NVDA Daily ETF (NVDL) has a higher volatility of 26.25% compared to Direxion Daily Regional Banks Bull 3X Shares (DPST) at 19.33%. This indicates that NVDL's price experiences larger fluctuations and is considered to be riskier than DPST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NVDL	DPST	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.25%	19.33%	+6.92%
Volatility (6M) Calculated over the trailing 6-month period	52.55%	47.84%	+4.71%
Volatility (1Y) Calculated over the trailing 1-year period	69.37%	69.46%	-0.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	90.57%	89.45%	+1.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	90.57%	94.60%	-4.03%

NVDL vs. DPST - Expense Ratio Comparison

NVDL has a 1.05% expense ratio, which is higher than DPST's 0.99% expense ratio.

Dividends

NVDL vs. DPST - Dividend Comparison

NVDL has not paid dividends to shareholders, while DPST's dividend yield for the trailing twelve months is around 1.82%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DPST Direxion Daily Regional Banks Bull 3X Shares	1.82%	2.18%	1.55%	1.78%	1.51%	0.58%	0.90%	1.29%	2.18%	0.30%
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%

Frequently Asked Questions

Can I hold both NVDL and DPST in my portfolio?

NVDL and DPST 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 is riskier, NVDL or DPST?

NVDL has higher volatility (26.25%) compared to DPST (19.33%). In terms of maximum drawdown, NVDL dropped -67.55% vs DPST's -97.73%.

Which ETF is better, NVDL or DPST?

On 3-year performance, NVDL leads with 107.15% vs 24.30% for DPST. On fees, DPST is cheaper at 0.99% per year. On volatility, DPST has been the lower-risk option at 19.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NVDL or DPST?

Over the 3-year period, NVDL has performed better with a 107.15% return vs 24.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NVDL or DPST?

DPST is cheaper with a 0.99% expense ratio, compared with 1.05% for NVDL.

Which ETF pays a higher dividend yield, NVDL or DPST?

DPST has the higher dividend yield at 1.82%, compared with 0.00% for NVDL.

What is the main difference between NVDL and DPST?

They also come from different issuers: GraniteShares and Direxion. Their fees differ too: 1.05% for NVDL and 0.99% for DPST.

Which has better risk-adjusted returns?

NVDL currently has the higher Sharpe Ratio (1.06 vs 0.70), 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.