NVDQ vs. NVDS

Last updated Jun 4, 2026

NVDQ (T-Rex 2X Inverse NVIDIA Daily Target ETF) and NVDS (Tradr 1.25X NVDA Bear Daily ETF) are both Inverse Equities funds. NVDQ is actively managed, while NVDS is passively managed. Over the past year, NVDQ returned -68.82% vs -53.75% for NVDS. With a 1.00 correlation, they move nearly in lockstep. NVDQ charges 1.05%/yr vs 1.15%/yr for NVDS.

Performance

NVDQ vs. NVDS - 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 Tradr 1.25X NVDA Bear Daily ETF (NVDS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NVDQ achieves a -36.13% return, which is significantly lower than NVDS's -25.38% return.

NVDQ

• 1D: 7.09%
• 1M: -18.40%
• YTD: -36.13%
• 6M: -41.91%
• 1Y: -68.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NVDS

• 1D: 5.56%
• 1M: -13.17%
• YTD: -25.38%
• 6M: -29.90%
• 1Y: -53.75%
• 3Y*: -64.56%
• 5Y*: —
• 10Y*: —

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

NVDQ vs. NVDS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NVDQ T-Rex 2X Inverse NVIDIA Daily Target ETF	-36.13%	-74.63%	-93.80%	-30.70%
NVDS Tradr 1.25X NVDA Bear Daily ETF	-25.38%	-58.18%	-80.03%	-18.93%

Correlation

The correlation between NVDQ and NVDS is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (All Time) Calculated using the full available price history since Oct 20, 2023	1.00

The correlation between NVDQ and NVDS has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

Return for Risk

NVDQ vs. NVDS — 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

NVDS

NVDS Risk / Return Rank: 1
NVDS Sharpe Ratio Rank: 1
NVDS Sortino Ratio Rank: 1
NVDS Omega Ratio Rank: 1
NVDS Calmar Ratio Rank: 1
NVDS 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. NVDS - 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 Tradr 1.25X NVDA Bear Daily ETF (NVDS). 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	NVDS	Difference
Sharpe ratio Return per unit of total volatility	-1.02	-1.06	+0.04
Sortino ratio Return per unit of downside risk	-1.82	-1.66	-0.16
Omega ratio Gain probability vs. loss probability	0.80	0.81	-0.02
Calmar ratio Return relative to maximum drawdown	-0.94	-0.90	-0.04
Martin ratio Return relative to average drawdown	-1.42	-1.45	+0.03
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. NVDS - Sharpe Ratio Comparison

The current NVDQ Sharpe Ratio is -1.02, which is comparable to the NVDS Sharpe Ratio of -1.06. The chart below compares the historical Sharpe Ratios of NVDQ and NVDS, 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	NVDS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.02	-1.06	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	-0.89	-1.02	+0.13

Drawdowns

NVDQ vs. NVDS - Drawdown Comparison

The maximum NVDQ drawdown since its inception was -99.45%, roughly equal to the maximum NVDS drawdown of -99.40%. Use the drawdown chart below to compare losses from any high point for NVDQ and NVDS.

Drawdown Indicators

	NVDQ	NVDS	Difference
Max Drawdown Largest peak-to-trough decline	-99.45%	-99.40%	-0.05%
Max Drawdown (1Y) Largest decline over 1 year	-73.67%	-59.88%	-13.79%
Max Drawdown (3Y) Largest decline over 3 years	—	-96.32%	—
Current Drawdown Current decline from peak	-99.35%	-99.32%	-0.03%
Average Drawdown Average peak-to-trough decline	-88.21%	-83.40%	-4.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	48.57%	37.07%	+11.50%

Volatility

NVDQ vs. NVDS - Volatility Comparison

T-Rex 2X Inverse NVIDIA Daily Target ETF (NVDQ) has a higher volatility of 25.84% compared to Tradr 1.25X NVDA Bear Daily ETF (NVDS) at 19.37%. This indicates that NVDQ's price experiences larger fluctuations and is considered to be riskier than NVDS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NVDQ	NVDS	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.84%	19.37%	+6.47%
Volatility (6M) Calculated over the trailing 6-month period	51.78%	38.64%	+13.14%
Volatility (1Y) Calculated over the trailing 1-year period	67.86%	51.17%	+16.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	95.52%	68.88%	+26.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	95.52%	68.88%	+26.64%

NVDQ vs. NVDS - Expense Ratio Comparison

NVDQ has a 1.05% expense ratio, which is lower than NVDS's 1.15% expense ratio.

Dividends

NVDQ vs. NVDS - Dividend Comparison

NVDQ's dividend yield for the trailing twelve months is around 0.41%, less than NVDS's 19.02% yield.

Position	TTM	2025	2024	2023	2022
NVDQ T-Rex 2X Inverse NVIDIA Daily Target ETF	0.41%	0.26%	4.59%	11.60%	0.00%
NVDS Tradr 1.25X NVDA Bear Daily ETF	19.02%	14.19%	14.11%	14.69%	5.72%

Frequently Asked Questions

Can I hold both NVDQ and NVDS in my portfolio?

With a correlation of 0.99, NVDQ and NVDS move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, NVDQ or NVDS?

NVDQ has higher volatility (25.84%) compared to NVDS (19.37%). In terms of maximum drawdown, NVDQ dropped -99.45% vs NVDS's -99.40%.

Which ETF is better, NVDQ or NVDS?

On 1-year performance, NVDS leads with -53.75% vs -68.82% for NVDQ. On fees, NVDQ is cheaper at 1.05% per year. On volatility, NVDS has been the lower-risk option at 19.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NVDQ or NVDS?

Over the 1-year period, NVDS has performed better with a -53.75% return vs -68.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NVDQ or NVDS?

NVDQ is cheaper with a 1.05% expense ratio, compared with 1.15% for NVDS.

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

NVDS has the higher dividend yield at 19.02%, compared with 0.41% for NVDQ.

What is the main difference between NVDQ and NVDS?

They also come from different issuers: T-Rex and AXS. Their fees differ too: 1.05% for NVDQ and 1.15% for NVDS.

Which has better risk-adjusted returns?

NVDQ currently has the higher Sharpe Ratio (-1.02 vs -1.06), 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.