NVDQ vs. SPUS
NVDQ (T-Rex 2X Inverse NVIDIA Daily Target ETF) and SPUS (SP Funds S&P 500 Sharia Industry Exclusions ETF) are both exchange-traded funds - NVDQ is a Inverse Equities fund actively managed by T-Rex, while SPUS is a S&P 500 fund tracking the S&P 500 Shariah Industry Exclusions Index. NVDQ is actively managed, while SPUS is passively managed. Over the past year, NVDQ returned -50.45% vs 27.90% for SPUS. Their -0.72 correlation means they have often moved in opposite directions in the past. NVDQ charges 1.05%/yr vs 0.45%/yr for SPUS.
Performance
NVDQ vs. SPUS - Performance Comparison
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Returns By Period
In the year-to-date period, NVDQ achieves a -39.70% return, which is significantly lower than SPUS's 15.14% return.
NVDQ
- 1D
- -5.06%
- 1M
- -19.48%
- 6M
- -42.67%
- YTD
- -39.70%
- 1Y
- -50.45%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -83.30%
SPUS
- 1D
- 2.50%
- 1M
- 3.47%
- 6M
- 15.10%
- YTD
- 15.14%
- 1Y
- 27.90%
- 3Y*
- 23.09%
- 5Y*
- 15.23%
- 10Y*
- —
- ALL TIME*
- 18.72%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $24.84M | $29.28M | $55.12M | |
| $35.17M | $26.20M | $28.44M |
NVDQ vs. SPUS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
NVDQ T-Rex 2X Inverse NVIDIA Daily Target ETF | -39.70% | -74.63% | -93.80% | -28.84% |
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF | 15.14% | 19.77% | 26.49% | 9.91% |
Correlation
The correlation between NVDQ and SPUS is -0.72, 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. | -0.72 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2023 | -0.72 |
The correlation between NVDQ and SPUS has been stable across timeframes, ranging from -0.72 to -0.72 - a consistent structural relationship.
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Return for Risk
NVDQ vs. SPUS — Risk / Return Rank
NVDQ
SPUS
NVDQ vs. SPUS - 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 SP Funds S&P 500 Sharia Industry Exclusions ETF (SPUS). 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 | SPUS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.46 | ||
| Sortino ratioReturn per unit of downside risk | -3.25 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.31 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.83 | 2.63 | -3.46 |
| Martin ratioReturn relative to average drawdown | -1.44 | 8.99 | -10.43 |
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Drawdowns
NVDQ vs. SPUS - Drawdown Comparison
The maximum NVDQ drawdown since its inception was -99.45%, which is greater than SPUS's maximum drawdown of -30.80%. Use the drawdown chart below to compare losses from any high point for NVDQ and SPUS.
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Drawdown Indicators
| NVDQ | SPUS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.45% | -30.80% | -68.65% |
Max Drawdown (1Y)Largest decline over 1 year | -61.17% | -10.66% | -50.51% |
Max Drawdown (3Y)Largest decline over 3 years | — | -22.82% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -28.06% | — |
Current DrawdownCurrent decline from peak | -99.39% | -1.44% | -97.95% |
Average DrawdownAverage peak-to-trough decline | -88.75% | -6.16% | -82.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.09% | 3.11% | +31.98% |
Volatility
NVDQ vs. SPUS - Volatility Comparison
T-Rex 2X Inverse NVIDIA Daily Target ETF (NVDQ) has a higher volatility of 24.71% compared to SP Funds S&P 500 Sharia Industry Exclusions ETF (SPUS) at 5.38%. This indicates that NVDQ's price experiences larger fluctuations and is considered to be riskier than SPUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NVDQ | SPUS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.71% | 5.38% | +19.33% |
Volatility (6M)Calculated over the trailing 6-month period | 57.15% | 13.09% | +44.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 72.63% | 16.04% | +56.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 94.71% | 19.53% | +75.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 94.71% | 21.27% | +73.44% |
NVDQ vs. SPUS - Expense Ratio Comparison
NVDQ has a 1.05% expense ratio, which is higher than SPUS's 0.45% expense ratio.
Dividends
NVDQ vs. SPUS - Dividend Comparison
NVDQ's dividend yield for the trailing twelve months is around 0.43%, less than SPUS's 0.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
NVDQ T-Rex 2X Inverse NVIDIA Daily Target ETF | 0.43% | 0.26% | 4.59% | 11.60% | 0.00% | 0.00% | 0.00% |
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF | 0.52% | 0.60% | 0.70% | 0.87% | 1.21% | 1.15% | 1.04% |
Frequently Asked Questions
NVDQ and SPUS have a correlation of -0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NVDQ has higher volatility (24.71%) compared to SPUS (5.38%). In terms of maximum drawdown, NVDQ dropped -99.45% vs SPUS's -30.80%.
On 1-year performance, SPUS leads with 27.90% vs -50.45% for NVDQ. On fees, SPUS is cheaper at 0.45% per year. On volatility, SPUS has been the lower-risk option at 5.38%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SPUS has performed better with a 27.90% return vs -50.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPUS is cheaper with a 0.45% expense ratio, compared with 1.05% for NVDQ.
SPUS has the higher dividend yield at 0.52%, compared with 0.43% for NVDQ.
NVDQ is categorized as Inverse Equities, while SPUS is S&P 500. They also come from different issuers: T-Rex and SP Funds. Their fees differ too: 1.05% for NVDQ and 0.45% for SPUS.
SPUS currently has the higher Sharpe Ratio (1.76 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.
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