NVDL vs. FNGG

Last updated Apr 2, 2026

Compare and contrast key facts about GraniteShares 2x Long NVDA Daily ETF (NVDL) and Direxion Daily NYSE FANG+ Bull 2X Shares (FNGG).

NVDL and FNGG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. NVDL is an actively managed fund by GraniteShares. It was launched on Dec 13, 2022. FNGG is a passively managed fund by Direxion that tracks the performance of the NYSE FANG+ Index (2x Leveraged). It was launched on Sep 30, 2021.

Performance

NVDL vs. FNGG - 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 NYSE FANG+ Bull 2X Shares (FNGG). The values are adjusted to include any dividend payments, if applicable.

NVDL vs. FNGG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
NVDL GraniteShares 2x Long NVDA Daily ETF	-16.23%	32.57%	344.58%	432.18%	-28.32%
FNGG Direxion Daily NYSE FANG+ Bull 2X Shares	-23.23%	27.21%	98.76%	204.23%	-21.45%

Returns By Period

In the year-to-date period, NVDL achieves a -16.23% return, which is significantly higher than FNGG's -23.23% return.

NVDL

• 1D: 1.60%
• 1M: -8.86%
• YTD: -16.23%
• 6M: -21.72%
• 1Y: 92.71%
• 3Y*: 118.73%
• 5Y*: —
• 10Y*: —

FNGG

• 1D: 3.06%
• 1M: -8.46%
• YTD: -23.23%
• 6M: -28.21%
• 1Y: 27.59%
• 3Y*: 52.16%
• 5Y*: —
• 10Y*: —

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

NVDL vs. FNGG - Expense Ratio Comparison

NVDL has a 1.15% expense ratio, which is higher than FNGG's 0.98% expense ratio.

NVDL

GraniteShares 2x Long NVDA Daily ETF

FNGG

Direxion Daily NYSE FANG+ Bull 2X Shares

Return for Risk

NVDL vs. FNGG — Risk / Return Rank

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

NVDL

NVDL Risk / Return Rank: 67
NVDL Sharpe Ratio Rank: 63
NVDL Sortino Ratio Rank: 73
NVDL Omega Ratio Rank: 63
NVDL Calmar Ratio Rank: 80
NVDL Martin Ratio Rank: 54

FNGG

FNGG Risk / Return Rank: 31
FNGG Sharpe Ratio Rank: 27
FNGG Sortino Ratio Rank: 38
FNGG Omega Ratio Rank: 35
FNGG Calmar Ratio Rank: 29
FNGG Martin Ratio Rank: 26

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. FNGG - 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 NYSE FANG+ Bull 2X Shares (FNGG). 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	FNGG	Difference
Sharpe ratio Return per unit of total volatility	1.14	0.51	+0.63
Sortino ratio Return per unit of downside risk	1.90	1.13	+0.77
Omega ratio Gain probability vs. loss probability	1.24	1.15	+0.09
Calmar ratio Return relative to maximum drawdown	2.30	0.73	+1.57
Martin ratio Return relative to average drawdown	5.52	2.07	+3.45
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. FNGG - Sharpe Ratio Comparison

The current NVDL Sharpe Ratio is 1.14, which is higher than the FNGG Sharpe Ratio of 0.51. The chart below compares the historical Sharpe Ratios of NVDL and FNGG, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	NVDL	FNGG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.14	0.51	+0.63
Sharpe Ratio (All Time) Calculated using the full available price history	1.59	-0.10	+1.69

Correlation

The correlation between NVDL and FNGG is 0.73, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

NVDL vs. FNGG - Dividend Comparison

NVDL has not paid dividends to shareholders, while FNGG's dividend yield for the trailing twelve months is around 15.44%.

	TTM	2025	2024	2023	2022	2021
NVDL GraniteShares 2x Long NVDA Daily ETF	0.00%	0.00%	0.00%	11.29%	0.00%	0.00%
FNGG Direxion Daily NYSE FANG+ Bull 2X Shares	15.44%	11.89%	0.79%	0.88%	0.00%	4.99%

Drawdowns

NVDL vs. FNGG - Drawdown Comparison

The maximum NVDL drawdown since its inception was -67.55%, smaller than the maximum FNGG drawdown of -91.33%. Use the drawdown chart below to compare losses from any high point for NVDL and FNGG.

Drawdown Indicators

	NVDL	FNGG	Difference
Max Drawdown Largest peak-to-trough decline	-67.55%	-91.33%	+23.78%
Max Drawdown (1Y) Largest decline over 1 year	-42.23%	-43.01%	+0.78%
Current Drawdown Current decline from peak	-34.75%	-43.22%	+8.47%
Average Drawdown Average peak-to-trough decline	-17.05%	-57.35%	+40.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.61%	15.21%	+2.40%

Volatility

NVDL vs. FNGG - Volatility Comparison

GraniteShares 2x Long NVDA Daily ETF (NVDL) has a higher volatility of 20.66% compared to Direxion Daily NYSE FANG+ Bull 2X Shares (FNGG) at 16.13%. This indicates that NVDL's price experiences larger fluctuations and is considered to be riskier than FNGG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NVDL	FNGG	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.66%	16.13%	+4.53%
Volatility (6M) Calculated over the trailing 6-month period	51.42%	30.53%	+20.89%
Volatility (1Y) Calculated over the trailing 1-year period	81.87%	54.17%	+27.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	91.12%	68.39%	+22.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	91.12%	68.39%	+22.73%