NVDQ vs. GLDM
NVDQ (T-Rex 2X Inverse NVIDIA Daily Target ETF) and GLDM (SPDR Gold MiniShares Trust) are both exchange-traded funds - NVDQ is a Inverse Equities fund actively managed by T-Rex, while GLDM is a Gold fund tracking the LBMA Gold Price PM. NVDQ is actively managed, while GLDM is passively managed. Over the past year, NVDQ returned -48.60% vs 20.58% for GLDM. Their -0.05 correlation means they have often moved in opposite directions in the past. NVDQ charges 1.05%/yr vs 0.10%/yr for GLDM.
Performance
NVDQ vs. GLDM - Performance Comparison
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Returns By Period
In the year-to-date period, NVDQ achieves a -32.56% return, which is significantly lower than GLDM's -6.13% return.
NVDQ
- 1D
- -5.82%
- 1M
- -9.94%
- 6M
- -28.13%
- YTD
- -32.56%
- 1Y
- -48.60%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -82.74%
GLDM
- 1D
- -1.46%
- 1M
- -1.72%
- 6M
- -16.53%
- YTD
- -6.13%
- 1Y
- 20.58%
- 3Y*
- 27.59%
- 5Y*
- 17.31%
- 10Y*
- —
- ALL TIME*
- 15.36%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $263.44M | $251.25M | $317.77M | |
| $23.89M | $29.47M | $56.41M |
NVDQ vs. GLDM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
NVDQ T-Rex 2X Inverse NVIDIA Daily Target ETF | -32.56% | -74.63% | -93.80% | -28.84% |
GLDM SPDR Gold MiniShares Trust | -6.13% | 64.20% | 27.08% | 5.77% |
Correlation
The correlation between NVDQ and GLDM is -0.17, 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. | -0.17 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2023 | -0.05 |
The correlation between NVDQ and GLDM shifts across timeframes, from -0.17 (1 year) to -0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NVDQ vs. GLDM — Risk / Return Rank
NVDQ
GLDM
NVDQ vs. GLDM - 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 SPDR Gold MiniShares Trust (GLDM). 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.
| NVDQ | GLDM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.47 | ||
| Sortino ratioReturn per unit of downside risk | -1.87 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.17 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.76 | 0.88 | -1.64 |
| Martin ratioReturn relative to average drawdown | -1.33 | 1.90 | -3.23 |
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Drawdowns
NVDQ vs. GLDM - Drawdown Comparison
The maximum NVDQ drawdown since its inception was -99.45%, which is greater than GLDM's maximum drawdown of -26.27%. Use the drawdown chart below to compare losses from any high point for NVDQ and GLDM.
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Drawdown Indicators
| NVDQ | GLDM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.45% | -26.27% | -73.18% |
Max Drawdown (1Y)Largest decline over 1 year | -61.17% | -26.27% | -34.90% |
Max Drawdown (3Y)Largest decline over 3 years | — | -26.27% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.27% | — |
Current DrawdownCurrent decline from peak | -99.32% | -24.94% | -74.38% |
Average DrawdownAverage peak-to-trough decline | -88.72% | -6.56% | -82.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.78% | 12.12% | +22.66% |
Volatility
NVDQ vs. GLDM - Volatility Comparison
T-Rex 2X Inverse NVIDIA Daily Target ETF (NVDQ) has a higher volatility of 23.95% compared to SPDR Gold MiniShares Trust (GLDM) at 6.35%. This indicates that NVDQ's price experiences larger fluctuations and is considered to be riskier than GLDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NVDQ | GLDM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.95% | 6.35% | +17.60% |
Volatility (6M)Calculated over the trailing 6-month period | 57.01% | 23.37% | +33.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 72.43% | 27.92% | +44.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 94.76% | 18.39% | +76.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 94.76% | 17.10% | +77.66% |
NVDQ vs. GLDM - Expense Ratio Comparison
NVDQ has a 1.05% expense ratio, which is higher than GLDM's 0.10% expense ratio.
Dividends
NVDQ vs. GLDM - Dividend Comparison
NVDQ's dividend yield for the trailing twelve months is around 0.39%, while GLDM has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
GLDM SPDR Gold MiniShares Trust | 0.00% | 0.00% | 0.00% | 0.00% |
NVDQ T-Rex 2X Inverse NVIDIA Daily Target ETF | 0.39% | 0.26% | 4.59% | 11.60% |
Frequently Asked Questions
NVDQ and GLDM have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NVDQ has higher volatility (23.95%) compared to GLDM (6.35%). In terms of maximum drawdown, NVDQ dropped -99.45% vs GLDM's -26.27%.
On 1-year performance, GLDM leads with 20.58% vs -48.60% for NVDQ. On fees, GLDM is cheaper at 0.10% per year. On volatility, GLDM has been the lower-risk option at 6.35%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, GLDM has performed better with a 20.58% return vs -48.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GLDM is cheaper with a 0.10% expense ratio, compared with 1.05% for NVDQ.
NVDQ has the higher dividend yield at 0.39%, compared with 0.00% for GLDM.
NVDQ is categorized as Inverse Equities, while GLDM is Gold. They also come from different issuers: T-Rex and State Street. Their fees differ too: 1.05% for NVDQ and 0.10% for GLDM.
GLDM currently has the higher Sharpe Ratio (0.83 vs -0.64), 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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