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 97.81%/yr vs -63.39%/yr for NVDS. Their -0.99 correlation means they have often moved in opposite directions in the past. NVDL charges 1.05%/yr vs 1.15%/yr for NVDS.
Performance
NVDL vs. NVDS - Performance Comparison
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Returns By Period
In the year-to-date period, NVDL achieves a 19.13% return, which is significantly higher than NVDS's -30.88% return.
NVDL
- 1D
- 6.85%
- 1M
- 22.50%
- 6M
- 38.93%
- YTD
- 19.13%
- 1Y
- 19.05%
- 3Y*
- 97.81%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 146.14%
NVDS
- 1D
- -5.19%
- 1M
- -17.79%
- 6M
- -37.06%
- YTD
- -30.88%
- 1Y
- -38.56%
- 3Y*
- -63.39%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -69.46%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $380.97M | $415.87M | $666.11M | |
| $5.83M | $5.95M | $7.15M |
NVDL vs. NVDS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
NVDL GraniteShares 2x Long NVDA Daily ETF | 19.13% | 32.57% | 344.58% | 432.18% | -28.71% |
NVDS Tradr 1.25X NVDA Bear Daily ETF | -30.88% | -58.18% | -80.03% | -83.15% | 22.77% |
Correlation
The correlation between NVDL and NVDS is -1.00, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -1.00 |
Correlation (3Y) Balances recent behavior with more history. | -1.00 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 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.
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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.
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 | NVDS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.97 | ||
| Sortino ratioReturn per unit of downside risk | +1.73 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 0.91 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.45 | -0.82 | +1.27 |
| Martin ratioReturn relative to average drawdown | 0.88 | -1.55 | +2.43 |
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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.
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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% | -47.10% | +4.87% |
Max Drawdown (3Y)Largest decline over 3 years | -67.55% | -95.83% | +28.28% |
Current DrawdownCurrent decline from peak | -18.75% | -99.37% | +80.62% |
Average DrawdownAverage peak-to-trough decline | -17.47% | -84.05% | +66.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.78% | 24.86% | -3.08% |
Volatility
NVDL vs. NVDS - Volatility Comparison
GraniteShares 2x Long NVDA Daily ETF (NVDL) has a higher volatility of 25.53% compared to Tradr 1.25X NVDA Bear Daily ETF (NVDS) at 19.30%. 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.
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Volatility by Period
| NVDL | NVDS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 25.53% | 19.30% | +6.23% |
Volatility (6M)Calculated over the trailing 6-month period | 56.52% | 43.00% | +13.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 72.65% | 54.76% | +17.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 90.01% | 68.61% | +21.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 90.01% | 68.61% | +21.40% |
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 20.53%.
| 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 | 20.53% | 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 (25.53%) compared to NVDS (19.30%). In terms of maximum drawdown, NVDL dropped -67.55% vs NVDS's -99.40%.
On 3-year performance, NVDL leads with 97.81% vs -63.39% for NVDS. On fees, NVDL is cheaper at 1.05% per year. On volatility, NVDS has been the lower-risk option at 19.30%. 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 97.81% return vs -63.39%. 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 20.53%, 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 (0.26 vs -0.71), 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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