NVDL vs. LVHD

Last updated Jul 16, 2026

NVDL (GraniteShares 2x Long NVDA Daily ETF) and LVHD (Franklin U.S. Low Volatility High Dividend Index ETF) are both exchange-traded funds - NVDL is a Leveraged Equities fund actively managed by GraniteShares, while LVHD is a Dividend fund tracking the Franklin U.S. Low Volatility High Dividend Index. NVDL is actively managed, while LVHD is passively managed. Over the past 3 years, NVDL returned 92.71%/yr vs 9.98%/yr for LVHD. At a correlation of -0.08, they often move in opposite directions. NVDL charges 1.05%/yr vs 0.27%/yr for LVHD.

Performance

NVDL vs. LVHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long NVDA Daily ETF (NVDL) and Franklin U.S. Low Volatility High Dividend Index ETF (LVHD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NVDL achieves a 13.75% return, which is significantly higher than LVHD's 12.11% return.

NVDL

• 1D: 0.60%
• 1M: -2.06%
• 6M: 18.49%
• YTD: 13.75%
• 1Y: 22.73%
• 3Y*: 92.71%
• 5Y*: —
• 10Y*: —

LVHD

• 1D: -0.36%
• 1M: 1.64%
• 6M: 8.77%
• YTD: 12.11%
• 1Y: 14.99%
• 3Y*: 9.98%
• 5Y*: 7.27%
• 10Y*: 8.03%

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

NVDL vs. LVHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
NVDL GraniteShares 2x Long NVDA Daily ETF	13.75%	32.57%	344.58%	432.18%	-28.71%
LVHD Franklin U.S. Low Volatility High Dividend Index ETF	12.11%	7.50%	10.18%	-0.95%	-1.86%

Correlation

The correlation between NVDL and LVHD is -0.27, 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 (1Y) Calculated over the trailing 1-year period	-0.27
Correlation (3Y) Calculated over the trailing 3-year period	-0.14
Correlation (All Time) Calculated using the full available price history since Dec 13, 2022	-0.08

The correlation between NVDL and LVHD shifts across timeframes, from -0.27 (1 year) to -0.08 (all time), reflecting how their relationship changes across market environments.

NVDL vs. LVHD - Sectors Allocation Comparison

Sectors	NVDL	LVHD
Financial Services	100.0%	8.2%
Technology	100.0%	3.1%
Basic Materials	0.0%	-
Communication Services	0.0%	2.6%
Consumer Cyclical	0.0%	7.4%
Consumer Defensive	0.0%	21.8%
Energy	0.0%	7.4%
Healthcare	0.0%	4.4%
Industrials	0.0%	4.9%
Real Estate	0.0%	15.4%
Utilities	0.0%	24.8%

Return for Risk

NVDL vs. LVHD — Risk / Return Rank

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

NVDL

NVDL Risk / Return Rank: 17
NVDL Sharpe Ratio Rank: 15
NVDL Sortino Ratio Rank: 20
NVDL Omega Ratio Rank: 19
NVDL Calmar Ratio Rank: 17
NVDL Martin Ratio Rank: 16

LVHD

LVHD Risk / Return Rank: 53
LVHD Sharpe Ratio Rank: 53
LVHD Sortino Ratio Rank: 57
LVHD Omega Ratio Rank: 49
LVHD Calmar Ratio Rank: 60
LVHD Martin Ratio Rank: 45

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. LVHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long NVDA Daily ETF (NVDL) and Franklin U.S. Low Volatility High Dividend Index ETF (LVHD). 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	LVHD	Difference
Sharpe ratio: Return per unit of total volatility	0.32	1.47	-1.15
Sortino ratio: Return per unit of downside risk	0.94	2.20	-1.25
Omega ratio: Gain probability vs. loss probability	1.11	1.25	-0.14
Calmar ratio: Return relative to maximum drawdown	0.54	2.44	-1.90
Martin ratio: Return relative to average drawdown	1.11	6.04	-4.94

NVDL vs. LVHD - Sharpe Ratio Comparison

The current NVDL Sharpe Ratio is 0.32, which is lower than the LVHD Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of NVDL and LVHD, 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

NVDL vs. LVHD - Drawdown Comparison

The maximum NVDL drawdown since its inception was -67.55%, which is greater than LVHD's maximum drawdown of -37.32%. Use the drawdown chart below to compare losses from any high point for NVDL and LVHD.

Drawdown Indicators

	NVDL	LVHD	Difference
Max Drawdown Largest peak-to-trough decline	-67.55%	-37.32%	-30.23%
Max Drawdown (1Y) Largest decline over 1 year	-42.23%	-6.17%	-36.06%
Max Drawdown (3Y) Largest decline over 3 years	-67.55%	-14.29%	-53.26%
Max Drawdown (5Y) Largest decline over 5 years	—	-16.75%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-37.32%	—
Current Drawdown Current decline from peak	-22.43%	-1.84%	-20.59%
Average Drawdown Average peak-to-trough decline	-17.28%	-4.02%	-13.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.60%	2.49%	+18.11%

Volatility

NVDL vs. LVHD - Volatility Comparison

GraniteShares 2x Long NVDA Daily ETF (NVDL) has a higher volatility of 22.47% compared to Franklin U.S. Low Volatility High Dividend Index ETF (LVHD) at 4.48%. This indicates that NVDL's price experiences larger fluctuations and is considered to be riskier than LVHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NVDL	LVHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.47%	4.48%	+17.99%
Volatility (6M) Calculated over the trailing 6-month period	55.08%	7.82%	+47.26%
Volatility (1Y) Calculated over the trailing 1-year period	71.49%	10.31%	+61.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	90.13%	12.99%	+77.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	90.13%	15.54%	+74.59%

NVDL vs. LVHD - Expense Ratio Comparison

NVDL has a 1.05% expense ratio, which is higher than LVHD's 0.27% expense ratio.

Dividends

NVDL vs. LVHD - Dividend Comparison

NVDL has not paid dividends to shareholders, while LVHD's dividend yield for the trailing twelve months is around 3.24%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
LVHD Franklin U.S. Low Volatility High Dividend Index ETF	3.24%	3.35%	4.23%	3.55%	3.30%	2.56%	3.27%	3.30%	3.82%	3.33%	2.48%
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%

Frequently Asked Questions

Can I hold both NVDL and LVHD in my portfolio?

NVDL and LVHD have a correlation of -0.27, 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 LVHD?

NVDL has higher volatility (22.47%) compared to LVHD (4.48%). In terms of maximum drawdown, NVDL dropped -67.55% vs LVHD's -37.32%.

Which ETF is better, NVDL or LVHD?

On 3-year performance, NVDL leads with 92.71% vs 9.98% for LVHD. On fees, LVHD is cheaper at 0.27% per year. On volatility, LVHD has been the lower-risk option at 4.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NVDL or LVHD?

Over the 3-year period, NVDL has performed better with a 92.71% return vs 9.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NVDL or LVHD?

LVHD is cheaper with a 0.27% expense ratio, compared with 1.05% for NVDL.

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

LVHD has the higher dividend yield at 3.24%, compared with 0.00% for NVDL.

What is the main difference between NVDL and LVHD?

NVDL is categorized as Leveraged Equities, while LVHD is Dividend. They also come from different issuers: GraniteShares and Franklin Templeton. Their fees differ too: 1.05% for NVDL and 0.27% for LVHD.

Which has better risk-adjusted returns?

LVHD currently has the higher Sharpe Ratio (1.47 vs 0.32), 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.