NVDQ vs. EFZ

Last updated Jun 5, 2026

NVDQ (T-Rex 2X Inverse NVIDIA Daily Target ETF) and EFZ (ProShares Short MSCI EAFE) are both Inverse Equities funds. NVDQ is actively managed, while EFZ is passively managed. Over the past year, NVDQ returned -69.65% vs -14.29% for EFZ. At a 0.36 correlation, their price movements are largely independent. NVDQ charges 1.05%/yr vs 0.95%/yr for EFZ.

Performance

NVDQ vs. EFZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-Rex 2X Inverse NVIDIA Daily Target ETF (NVDQ) and ProShares Short MSCI EAFE (EFZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NVDQ achieves a -38.57% return, which is significantly lower than EFZ's -7.64% return.

NVDQ

• 1D: -3.82%
• 1M: -23.21%
• YTD: -38.57%
• 6M: -41.67%
• 1Y: -69.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EFZ

• 1D: -0.71%
• 1M: -2.63%
• YTD: -7.64%
• 6M: -9.27%
• 1Y: -14.29%
• 3Y*: -10.18%
• 5Y*: -5.52%
• 10Y*: -8.30%

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

NVDQ vs. EFZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NVDQ T-Rex 2X Inverse NVIDIA Daily Target ETF	-38.57%	-74.63%	-93.80%	-30.70%
EFZ ProShares Short MSCI EAFE	-7.64%	-20.92%	2.90%	-10.82%

Correlation

The correlation between NVDQ and EFZ is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (All Time) Calculated using the full available price history since Oct 20, 2023	0.36

Return for Risk

NVDQ vs. EFZ — Risk / Return Rank

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

NVDQ

NVDQ Risk / Return Rank: 1
NVDQ Sharpe Ratio Rank: 1
NVDQ Sortino Ratio Rank: 1
NVDQ Omega Ratio Rank: 1
NVDQ Calmar Ratio Rank: 1
NVDQ Martin Ratio Rank: 2

EFZ

EFZ Risk / Return Rank: 2
EFZ Sharpe Ratio Rank: 2
EFZ Sortino Ratio Rank: 3
EFZ Omega Ratio Rank: 3
EFZ Calmar Ratio Rank: 2
EFZ Martin Ratio Rank: 1

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.

NVDQ vs. EFZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-Rex 2X Inverse NVIDIA Daily Target ETF (NVDQ) and ProShares Short MSCI EAFE (EFZ). 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.

	NVDQ	EFZ	Difference
Sharpe ratio: Return per unit of total volatility	-1.03	-0.88	-0.15
Sortino ratio: Return per unit of downside risk	-1.87	-1.19	-0.68
Omega ratio: Gain probability vs. loss probability	0.79	0.86	-0.07
Calmar ratio: Return relative to maximum drawdown	-0.95	-0.83	-0.12
Martin ratio: Return relative to average drawdown	-1.43	-1.47	+0.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NVDQ vs. EFZ - Sharpe Ratio Comparison

The current NVDQ Sharpe Ratio is -1.03, which is comparable to the EFZ Sharpe Ratio of -0.88. The chart below compares the historical Sharpe Ratios of NVDQ and EFZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NVDQ	EFZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.03	-0.88	-0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.33	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.48	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.89	-0.34	-0.55

Drawdowns

NVDQ vs. EFZ - Drawdown Comparison

The maximum NVDQ drawdown since its inception was -99.45%, which is greater than EFZ's maximum drawdown of -88.08%. Use the drawdown chart below to compare losses from any high point for NVDQ and EFZ.

Drawdown Indicators

	NVDQ	EFZ	Difference
Max Drawdown Largest peak-to-trough decline	-99.45%	-88.08%	-11.37%
Max Drawdown (1Y) Largest decline over 1 year	-73.67%	-17.36%	-56.31%
Max Drawdown (3Y) Largest decline over 3 years	—	-35.42%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-43.77%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-61.88%	—
Current Drawdown Current decline from peak	-99.38%	-87.91%	-11.47%
Average Drawdown Average peak-to-trough decline	-88.22%	-67.09%	-21.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	48.77%	9.77%	+39.00%

Volatility

NVDQ vs. EFZ - Volatility Comparison

T-Rex 2X Inverse NVIDIA Daily Target ETF (NVDQ) has a higher volatility of 25.78% compared to ProShares Short MSCI EAFE (EFZ) at 5.08%. This indicates that NVDQ's price experiences larger fluctuations and is considered to be riskier than EFZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NVDQ	EFZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.78%	5.08%	+20.70%
Volatility (6M) Calculated over the trailing 6-month period	51.89%	13.47%	+38.42%
Volatility (1Y) Calculated over the trailing 1-year period	67.77%	16.34%	+51.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	95.47%	16.72%	+78.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	95.47%	17.38%	+78.09%

NVDQ vs. EFZ - Expense Ratio Comparison

NVDQ has a 1.05% expense ratio, which is higher than EFZ's 0.95% expense ratio.

Dividends

NVDQ vs. EFZ - Dividend Comparison

NVDQ's dividend yield for the trailing twelve months is around 0.42%, less than EFZ's 4.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
EFZ ProShares Short MSCI EAFE	4.07%	4.55%	5.29%	4.66%	0.57%	0.00%	0.04%	1.56%	0.34%
NVDQ T-Rex 2X Inverse NVIDIA Daily Target ETF	0.42%	0.26%	4.59%	11.60%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NVDQ and EFZ in my portfolio?

NVDQ and EFZ have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NVDQ or EFZ?

NVDQ has higher volatility (25.78%) compared to EFZ (5.08%). In terms of maximum drawdown, NVDQ dropped -99.45% vs EFZ's -88.08%.

Which ETF is better, NVDQ or EFZ?

On 1-year performance, EFZ leads with -14.29% vs -69.65% for NVDQ. On fees, EFZ is cheaper at 0.95% per year. On volatility, EFZ has been the lower-risk option at 5.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NVDQ or EFZ?

Over the 1-year period, EFZ has performed better with a -14.29% return vs -69.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NVDQ or EFZ?

EFZ is cheaper with a 0.95% expense ratio, compared with 1.05% for NVDQ.

Which ETF pays a higher dividend yield, NVDQ or EFZ?

EFZ has the higher dividend yield at 4.07%, compared with 0.42% for NVDQ.

What is the main difference between NVDQ and EFZ?

They also come from different issuers: T-Rex and ProShares. Their fees differ too: 1.05% for NVDQ and 0.95% for EFZ.

Which has better risk-adjusted returns?

EFZ currently has the higher Sharpe Ratio (-0.88 vs -1.03), 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.