NVDQ vs. FLYD

Last updated Apr 2, 2026

Compare and contrast key facts about T-Rex 2X Inverse NVIDIA Daily Target ETF (NVDQ) and MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD).

NVDQ and FLYD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. NVDQ is an actively managed fund by T-Rex. It was launched on Oct 18, 2023. FLYD is a passively managed fund by REX that tracks the performance of the MerQube MicroSectors U.S. Travel Index. It was launched on Jun 22, 2022.

Performance

NVDQ vs. FLYD - 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 MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD). The values are adjusted to include any dividend payments, if applicable.

NVDQ vs. FLYD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NVDQ T-Rex 2X Inverse NVIDIA Daily Target ETF	2.80%	-74.63%	-93.80%	-30.70%
FLYD MicroSectors Travel -3X Inverse Leveraged ETNs	26.36%	-60.42%	-54.13%	-50.52%

Returns By Period

In the year-to-date period, NVDQ achieves a 2.80% return, which is significantly lower than FLYD's 26.36% return.

NVDQ

• 1D: -1.60%
• 1M: 4.57%
• YTD: 2.80%
• 6M: -5.50%
• 1Y: -76.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FLYD

• 1D: -3.97%
• 1M: 7.80%
• YTD: 26.36%
• 6M: 5.01%
• 1Y: -62.53%
• 3Y*: -52.14%
• 5Y*: —
• 10Y*: —

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

NVDQ vs. FLYD - Expense Ratio Comparison

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

NVDQ

T-Rex 2X Inverse NVIDIA Daily Target ETF

FLYD

MicroSectors Travel -3X Inverse Leveraged ETNs

Return for Risk

NVDQ vs. FLYD — 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: 0
NVDQ Omega Ratio Rank: 0
NVDQ Calmar Ratio Rank: 0
NVDQ Martin Ratio Rank: 4

FLYD

FLYD Risk / Return Rank: 3
FLYD Sharpe Ratio Rank: 2
FLYD Sortino Ratio Rank: 3
FLYD Omega Ratio Rank: 3
FLYD Calmar Ratio Rank: 1
FLYD Martin Ratio Rank: 5

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. FLYD - 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 MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD). 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	FLYD	Difference
Sharpe ratio Return per unit of total volatility	-0.93	-0.67	-0.26
Sortino ratio Return per unit of downside risk	-1.68	-0.73	-0.95
Omega ratio Gain probability vs. loss probability	0.79	0.90	-0.11
Calmar ratio Return relative to maximum drawdown	-0.91	-0.76	-0.15
Martin ratio Return relative to average drawdown	-1.03	-0.86	-0.17
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. FLYD - Sharpe Ratio Comparison

The current NVDQ Sharpe Ratio is -0.93, which is lower than the FLYD Sharpe Ratio of -0.67. The chart below compares the historical Sharpe Ratios of NVDQ and FLYD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	NVDQ	FLYD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.93	-0.67	-0.26
Sharpe Ratio (All Time) Calculated using the full available price history	-0.87	-0.72	-0.15

Correlation

The correlation between NVDQ and FLYD is 0.34, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

NVDQ vs. FLYD - Dividend Comparison

NVDQ's dividend yield for the trailing twelve months is around 0.25%, while FLYD has not paid dividends to shareholders.

	TTM	2025	2024	2023
NVDQ T-Rex 2X Inverse NVIDIA Daily Target ETF	0.25%	0.26%	4.59%	11.60%
FLYD MicroSectors Travel -3X Inverse Leveraged ETNs	0.00%	0.00%	0.00%	0.00%

Drawdowns

NVDQ vs. FLYD - Drawdown Comparison

The maximum NVDQ drawdown since its inception was -99.13%, roughly equal to the maximum FLYD drawdown of -97.96%. Use the drawdown chart below to compare losses from any high point for NVDQ and FLYD.

Drawdown Indicators

	NVDQ	FLYD	Difference
Max Drawdown Largest peak-to-trough decline	-99.13%	-97.96%	-1.17%
Max Drawdown (1Y) Largest decline over 1 year	-85.00%	-82.41%	-2.59%
Current Drawdown Current decline from peak	-98.96%	-97.09%	-1.87%
Average Drawdown Average peak-to-trough decline	-87.43%	-82.46%	-4.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	74.62%	72.53%	+2.09%

Volatility

NVDQ vs. FLYD - Volatility Comparison

The current volatility for T-Rex 2X Inverse NVIDIA Daily Target ETF (NVDQ) is 20.90%, while MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD) has a volatility of 28.29%. This indicates that NVDQ experiences smaller price fluctuations and is considered to be less risky than FLYD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NVDQ	FLYD	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.90%	28.29%	-7.39%
Volatility (6M) Calculated over the trailing 6-month period	51.76%	54.96%	-3.20%
Volatility (1Y) Calculated over the trailing 1-year period	82.26%	92.87%	-10.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	96.76%	83.48%	+13.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	96.76%	83.48%	+13.28%