NVDL vs. QCOM

Last updated Jun 16, 2026

NVDL (GraniteShares 2x Long NVDA Daily ETF) is Leveraged Equities fund actively managed by GraniteShares, while QCOM (QUALCOMM Incorporated) is a stock. Over the past 3 years, NVDL returned 99.48%/yr vs 24.31%/yr for QCOM. At a 0.46 correlation, their price movements are largely independent.

Performance

NVDL vs. QCOM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long NVDA Daily ETF (NVDL) and QUALCOMM Incorporated (QCOM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NVDL achieves a 16.15% return, which is significantly lower than QCOM's 30.40% return.

NVDL

• 1D: 7.05%
• 1M: -12.95%
• YTD: 16.15%
• 6M: 28.66%
• 1Y: 78.08%
• 3Y*: 99.48%
• 5Y*: —
• 10Y*: —

QCOM

• 1D: 4.29%
• 1M: 9.99%
• YTD: 30.40%
• 6M: 24.43%
• 1Y: 45.72%
• 3Y*: 24.31%
• 5Y*: 12.76%
• 10Y*: 18.41%

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

NVDL vs. QCOM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
NVDL GraniteShares 2x Long NVDA Daily ETF	16.15%	32.57%	344.58%	432.18%	-28.71%
QCOM QUALCOMM Incorporated	30.40%	13.84%	8.31%	35.07%	-9.30%

Correlation

The correlation between NVDL and QCOM is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (All Time) Calculated using the full available price history since Dec 13, 2022	0.46

Over the past year, the correlation between NVDL and QCOM has dropped to 0.22 - well below their long-term average of 0.46, suggesting their price drivers have been diverging.

Return for Risk

NVDL vs. QCOM — Risk / Return Rank

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

NVDL

NVDL Risk / Return Rank: 35
NVDL Sharpe Ratio Rank: 34
NVDL Sortino Ratio Rank: 36
NVDL Omega Ratio Rank: 34
NVDL Calmar Ratio Rank: 41
NVDL Martin Ratio Rank: 32

QCOM

QCOM Risk / Return Rank: 70
QCOM Sharpe Ratio Rank: 72
QCOM Sortino Ratio Rank: 69
QCOM Omega Ratio Rank: 72
QCOM Calmar Ratio Rank: 69
QCOM Martin Ratio Rank: 68

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. QCOM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long NVDA Daily ETF (NVDL) and QUALCOMM Incorporated (QCOM). 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	QCOM	Difference
Sharpe ratio: Return per unit of total volatility	1.12	0.94	+0.18
Sortino ratio: Return per unit of downside risk	1.76	1.58	+0.18
Omega ratio: Gain probability vs. loss probability	1.21	1.23	-0.01
Calmar ratio: Return relative to maximum drawdown	1.86	1.39	+0.47
Martin ratio: Return relative to average drawdown	4.15	3.08	+1.07

NVDL vs. QCOM - Sharpe Ratio Comparison

The current NVDL Sharpe Ratio is 1.12, which is comparable to the QCOM Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of NVDL and QCOM, 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. QCOM - Drawdown Comparison

The maximum NVDL drawdown since its inception was -67.55%, smaller than the maximum QCOM drawdown of -86.75%. Use the drawdown chart below to compare losses from any high point for NVDL and QCOM.

Drawdown Indicators

	NVDL	QCOM	Difference
Max Drawdown Largest peak-to-trough decline	-67.55%	-86.75%	+19.20%
Max Drawdown (1Y) Largest decline over 1 year	-42.23%	-33.13%	-9.10%
Max Drawdown (3Y) Largest decline over 3 years	-67.55%	-44.23%	-23.32%
Max Drawdown (5Y) Largest decline over 5 years	—	-44.29%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-44.29%	—
Current Drawdown Current decline from peak	-20.79%	-11.71%	-9.08%
Average Drawdown Average peak-to-trough decline	-17.02%	-32.87%	+15.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.88%	14.90%	+3.98%

Volatility

NVDL vs. QCOM - Volatility Comparison

GraniteShares 2x Long NVDA Daily ETF (NVDL) and QUALCOMM Incorporated (QCOM) have volatilities of 25.91% and 26.79%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NVDL	QCOM	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.91%	26.79%	-0.88%
Volatility (6M) Calculated over the trailing 6-month period	53.48%	42.38%	+11.10%
Volatility (1Y) Calculated over the trailing 1-year period	70.01%	48.72%	+21.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	90.45%	41.22%	+49.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	90.45%	39.31%	+51.14%

Dividends

NVDL vs. QCOM - Dividend Comparison

NVDL has not paid dividends to shareholders, while QCOM's dividend yield for the trailing twelve months is around 1.63%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%
QCOM QUALCOMM Incorporated	1.63%	2.06%	2.18%	2.18%	2.67%	1.47%	1.69%	2.81%	4.27%	3.50%	3.17%	3.72%

Frequently Asked Questions

Can I hold both NVDL and QCOM in my portfolio?

NVDL and QCOM have a correlation of 0.22, 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 QCOM?

QCOM has higher volatility (26.79%) compared to NVDL (25.91%). In terms of maximum drawdown, NVDL dropped -67.55% vs QCOM's -86.75%.

Which has better risk-adjusted returns?

NVDL currently has the higher Sharpe Ratio (1.12 vs 0.94), 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.