NVDL vs. NVDS
NVDL (GraniteShares 2x Long NVDA Daily ETF) and NVDS (Tradr 1.25X NVDA Bear Daily ETF) are both exchange-traded funds - NVDL is a Leveraged Equities fund actively managed by GraniteShares, while NVDS is a Inverse Equities fund tracking the NVIDIA Corporation (-125%). NVDL is actively managed, while NVDS is passively managed. Over the past 3 years, NVDL returned 113.21%/yr vs -64.99%/yr for NVDS. At a correlation of -0.99, they often move in opposite directions. NVDL charges 1.05%/yr vs 1.15%/yr for NVDS.
Performance
NVDL vs. NVDS - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, NVDL achieves a 24.36% return, which is significantly higher than NVDS's -27.67% return.
NVDL
- 1D
- 3.68%
- 1M
- 21.13%
- YTD
- 24.36%
- 6M
- 26.69%
- 1Y
- 90.12%
- 3Y*
- 113.21%
- 5Y*
- —
- 10Y*
- —
NVDS
- 1D
- -3.06%
- 1M
- -17.14%
- YTD
- -27.67%
- 6M
- -29.84%
- 1Y
- -54.87%
- 3Y*
- -64.99%
- 5Y*
- —
- 10Y*
- —
NVDL vs. NVDS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
NVDL GraniteShares 2x Long NVDA Daily ETF | 24.36% | 32.57% | 344.58% | 432.18% | -28.32% |
NVDS Tradr 1.25X NVDA Bear Daily ETF | -27.67% | -58.18% | -80.03% | -83.15% | 28.11% |
Correlation
The correlation between NVDL and NVDS is -1.00, 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 | -1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | -1.00 |
Correlation (All Time) Calculated using the full available price history since Dec 14, 2022 | -0.99 |
The correlation between NVDL and NVDS has been stable across timeframes, ranging from -1.00 to -0.99 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
NVDL vs. NVDS — Risk / Return Rank
NVDL
NVDS
NVDL vs. NVDS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long NVDA Daily ETF (NVDL) and Tradr 1.25X NVDA Bear Daily ETF (NVDS). 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 | NVDS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.41 | ||
| Sortino ratioReturn per unit of downside risk | +3.67 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 0.81 | +0.42 |
| Calmar ratioReturn relative to maximum drawdown | 2.15 | -0.92 | +3.06 |
| Martin ratioReturn relative to average drawdown | 4.91 | -1.47 | +6.39 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| NVDL | NVDS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.33 | -1.08 | +2.41 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.80 | -1.03 | +2.82 |
Drawdowns
NVDL vs. NVDS - Drawdown Comparison
The maximum NVDL drawdown since its inception was -67.55%, smaller than the maximum NVDS drawdown of -99.40%. Use the drawdown chart below to compare losses from any high point for NVDL and NVDS.
Loading charts...
Drawdown Indicators
| NVDL | NVDS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.55% | -99.40% | +31.85% |
Max Drawdown (1Y)Largest decline over 1 year | -42.23% | -59.88% | +17.65% |
Max Drawdown (3Y)Largest decline over 3 years | -67.55% | -96.32% | +28.77% |
Current DrawdownCurrent decline from peak | -15.19% | -99.34% | +84.15% |
Average DrawdownAverage peak-to-trough decline | -16.96% | -83.41% | +66.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.41% | 37.24% | -18.83% |
Volatility
NVDL vs. NVDS - Volatility Comparison
GraniteShares 2x Long NVDA Daily ETF (NVDL) has a higher volatility of 24.75% compared to Tradr 1.25X NVDA Bear Daily ETF (NVDS) at 19.37%. This indicates that NVDL's price experiences larger fluctuations and is considered to be riskier than NVDS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| NVDL | NVDS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.75% | 19.37% | +5.38% |
Volatility (6M)Calculated over the trailing 6-month period | 50.90% | 38.74% | +12.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.08% | 51.09% | +16.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 90.39% | 68.86% | +21.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 90.39% | 68.86% | +21.53% |
NVDL vs. NVDS - Expense Ratio Comparison
NVDL has a 1.05% expense ratio, which is lower than NVDS's 1.15% expense ratio.
Dividends
NVDL vs. NVDS - Dividend Comparison
NVDL has not paid dividends to shareholders, while NVDS's dividend yield for the trailing twelve months is around 19.62%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
NVDL GraniteShares 2x Long NVDA Daily ETF | 0.00% | 0.00% | 0.00% | 11.29% | 0.00% |
NVDS Tradr 1.25X NVDA Bear Daily ETF | 19.62% | 14.19% | 14.11% | 14.69% | 5.72% |
Frequently Asked Questions
NVDL and NVDS have a correlation of -1.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NVDL has higher volatility (24.75%) compared to NVDS (19.37%). In terms of maximum drawdown, NVDL dropped -67.55% vs NVDS's -99.40%.
On 3-year performance, NVDL leads with 113.21% vs -64.99% for NVDS. On fees, NVDL is cheaper at 1.05% per year. On volatility, NVDS has been the lower-risk option at 19.37%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, NVDL has performed better with a 113.21% return vs -64.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NVDL is cheaper with a 1.05% expense ratio, compared with 1.15% for NVDS.
NVDS has the higher dividend yield at 19.62%, compared with 0.00% for NVDL.
NVDL is categorized as Leveraged Equities, while NVDS is Inverse Equities. They also come from different issuers: GraniteShares and AXS. Their fees differ too: 1.05% for NVDL and 1.15% for NVDS.
NVDL currently has the higher Sharpe Ratio (1.33 vs -1.08), 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.
Find the right allocation for NVDL and NVDS
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer