NVDQ vs. NFXS

Last updated Aug 5, 2026

NVDQ (T-Rex 2X Inverse NVIDIA Daily Target ETF) and NFXS (Direxion Daily NFLX Bear 1X Shares) are both Inverse Equities funds. Both are actively managed. Over the past year, NVDQ returned -50.45% vs 50.72% for NFXS. Their 0.22 correlation means their historical movements had little consistent relationship. NVDQ charges 1.05%/yr vs 1.03%/yr for NFXS.

Performance

NVDQ vs. NFXS - 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 Direxion Daily NFLX Bear 1X Shares (NFXS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NVDQ achieves a -39.70% return, which is significantly lower than NFXS's 21.94% return.

NVDQ

• 1D: -5.06%
• 1M: -19.48%
• 6M: -42.67%
• YTD: -39.70%
• 1Y: -50.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -83.30%

NFXS

• 1D: -0.35%
• 1M: 5.11%
• 6M: 3.86%
• YTD: 21.94%
• 1Y: 50.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -6.99%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
NFXS Direxion Daily NFLX Bear 1X Shares	$409.21K	$927.21K	$648.45K
NVDQ T-Rex 2X Inverse NVIDIA Daily Target ETF	$24.84M	$29.28M	$55.12M

NVDQ vs. NFXS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NVDQ T-Rex 2X Inverse NVIDIA Daily Target ETF	-39.70%	-74.63%	-28.45%
NFXS Direxion Daily NFLX Bear 1X Shares	21.94%	-8.56%	-21.49%

Correlation

The correlation between NVDQ and NFXS is 0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.01
Correlation (All Time) Calculated using the full available price history since Oct 3, 2024	0.22

Over the past year, the correlation between NVDQ and NFXS has dropped to 0.01 - well below their long-term average of 0.22, suggesting their price drivers have been diverging.

Return for Risk

NVDQ vs. NFXS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NVDQ

NVDQ Risk / Return Rank: 3
NVDQ Sharpe Ratio Rank: 3
NVDQ Sortino Ratio Rank: 4
NVDQ Omega Ratio Rank: 4
NVDQ Calmar Ratio Rank: 2
NVDQ Martin Ratio Rank: 1

NFXS

NFXS Risk / Return Rank: 48
NFXS Sharpe Ratio Rank: 52
NFXS Sortino Ratio Rank: 51
NFXS Omega Ratio Rank: 58
NFXS Calmar Ratio Rank: 40
NFXS Martin Ratio Rank: 38

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NVDQ vs. NFXS - 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 Direxion Daily NFLX Bear 1X Shares (NFXS). 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	NFXS	Difference
Sharpe ratio: Return per unit of total volatility	-0.70	1.45	-2.15
Sortino ratio: Return per unit of downside risk	-0.84	2.06	-2.90
Omega ratio: Gain probability vs. loss probability	0.91	1.29	-0.38
Calmar ratio: Return relative to maximum drawdown	-0.83	1.63	-2.46
Martin ratio: Return relative to average drawdown	-1.44	4.40	-5.84

NVDQ vs. NFXS - Sharpe Ratio Comparison

The current NVDQ Sharpe Ratio is -0.70, which is lower than the NFXS Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of NVDQ and NFXS, 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

NVDQ vs. NFXS - Drawdown Comparison

The maximum NVDQ drawdown since its inception was -99.45%, which is greater than NFXS's maximum drawdown of -50.37%. Use the drawdown chart below to compare losses from any high point for NVDQ and NFXS.

Drawdown Indicators

	NVDQ	NFXS	Difference
Max Drawdown Largest peak-to-trough decline	-99.45%	-50.37%	-49.08%
Max Drawdown (1Y) Largest decline over 1 year	-61.17%	-31.31%	-29.86%
Current Drawdown Current decline from peak	-99.39%	-14.47%	-84.92%
Average Drawdown Average peak-to-trough decline	-88.75%	-30.74%	-58.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	35.09%	11.56%	+23.53%

Volatility

NVDQ vs. NFXS - Volatility Comparison

T-Rex 2X Inverse NVIDIA Daily Target ETF (NVDQ) has a higher volatility of 24.71% compared to Direxion Daily NFLX Bear 1X Shares (NFXS) at 9.76%. This indicates that NVDQ's price experiences larger fluctuations and is considered to be riskier than NFXS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NVDQ	NFXS	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.71%	9.76%	+14.95%
Volatility (6M) Calculated over the trailing 6-month period	57.15%	28.51%	+28.64%
Volatility (1Y) Calculated over the trailing 1-year period	72.63%	35.07%	+37.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	94.71%	34.89%	+59.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	94.71%	34.89%	+59.82%

NVDQ vs. NFXS - Expense Ratio Comparison

NVDQ has a 1.05% expense ratio, which is higher than NFXS's 1.03% expense ratio.

Dividends

NVDQ vs. NFXS - Dividend Comparison

NVDQ's dividend yield for the trailing twelve months is around 0.43%, less than NFXS's 2.91% yield.

Position	TTM	2025	2024	2023
NFXS Direxion Daily NFLX Bear 1X Shares	2.91%	3.53%	0.87%	0.00%
NVDQ T-Rex 2X Inverse NVIDIA Daily Target ETF	0.43%	0.26%	4.59%	11.60%

Frequently Asked Questions

Can I hold both NVDQ and NFXS in my portfolio?

NVDQ and NFXS have a correlation of 0.01, 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 NFXS?

NVDQ has higher volatility (24.71%) compared to NFXS (9.76%). In terms of maximum drawdown, NVDQ dropped -99.45% vs NFXS's -50.37%.

Which ETF is better, NVDQ or NFXS?

On 1-year performance, NFXS leads with 50.72% vs -50.45% for NVDQ. On fees, NFXS is cheaper at 1.03% per year. On volatility, NFXS has been the lower-risk option at 9.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NVDQ or NFXS?

Over the 1-year period, NFXS has performed better with a 50.72% return vs -50.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NVDQ or NFXS?

NFXS is cheaper with a 1.03% expense ratio, compared with 1.05% for NVDQ.

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

NFXS has the higher dividend yield at 2.91%, compared with 0.43% for NVDQ.

What is the main difference between NVDQ and NFXS?

They also come from different issuers: T-Rex and Direxion. Their fees differ too: 1.05% for NVDQ and 1.03% for NFXS.

Which has better risk-adjusted returns?

NFXS currently has the higher Sharpe Ratio (1.45 vs -0.70), 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.