NVDQ vs. TSDD

Last updated Jun 26, 2026

NVDQ (T-Rex 2X Inverse NVIDIA Daily Target ETF) and TSDD (GraniteShares 2x Short TSLA Daily ETF) are both Inverse Equities funds. Both are actively managed. Over the past year, NVDQ returned -56.35% vs -54.15% for TSDD. At a 0.34 correlation, their price movements are largely independent. NVDQ charges 1.05%/yr vs 1.50%/yr for TSDD.

Performance

NVDQ vs. TSDD - 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 GraniteShares 2x Short TSLA Daily ETF (TSDD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NVDQ achieves a -25.89% return, which is significantly lower than TSDD's 16.69% return.

NVDQ

• 1D: 3.06%
• 1M: 14.12%
• YTD: -25.89%
• 6M: -24.18%
• 1Y: -56.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSDD

• 1D: 0.17%
• 1M: 26.86%
• YTD: 16.69%
• 6M: 35.71%
• 1Y: -54.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NVDQ vs. TSDD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NVDQ T-Rex 2X Inverse NVIDIA Daily Target ETF	-25.89%	-74.63%	-93.80%	-28.84%
TSDD GraniteShares 2x Short TSLA Daily ETF	16.69%	-74.84%	-89.21%	-9.35%

Correlation

The correlation between NVDQ and TSDD is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (All Time) Calculated using the full available price history since Oct 19, 2023	0.34

Return for Risk

NVDQ vs. TSDD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NVDQ

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

TSDD

TSDD Risk / Return Rank: 5
TSDD Sharpe Ratio Rank: 5
TSDD Sortino Ratio Rank: 5
TSDD Omega Ratio Rank: 5
TSDD Calmar Ratio Rank: 3
TSDD 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. TSDD - 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 GraniteShares 2x Short TSLA Daily ETF (TSDD). 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	TSDD	Difference
Sharpe ratio: Return per unit of total volatility	-0.81	-0.62	-0.19
Sortino ratio: Return per unit of downside risk	-1.14	-0.64	-0.50
Omega ratio: Gain probability vs. loss probability	0.87	0.93	-0.06
Calmar ratio: Return relative to maximum drawdown	-0.83	-0.75	-0.08
Martin ratio: Return relative to average drawdown	-1.35	-0.95	-0.40

NVDQ vs. TSDD - Sharpe Ratio Comparison

The current NVDQ Sharpe Ratio is -0.81, which is lower than the TSDD Sharpe Ratio of -0.62. The chart below compares the historical Sharpe Ratios of NVDQ and TSDD, 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. TSDD - Drawdown Comparison

The maximum NVDQ drawdown since its inception was -99.45%, roughly equal to the maximum TSDD drawdown of -99.03%. Use the drawdown chart below to compare losses from any high point for NVDQ and TSDD.

Drawdown Indicators

	NVDQ	TSDD	Difference
Max Drawdown Largest peak-to-trough decline	-99.45%	-99.03%	-0.42%
Max Drawdown (1Y) Largest decline over 1 year	-68.07%	-72.39%	+4.32%
Current Drawdown Current decline from peak	-99.25%	-98.66%	-0.59%
Average Drawdown Average peak-to-trough decline	-88.32%	-71.69%	-16.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	41.70%	56.75%	-15.05%

Volatility

NVDQ vs. TSDD - Volatility Comparison

T-Rex 2X Inverse NVIDIA Daily Target ETF (NVDQ) and GraniteShares 2x Short TSLA Daily ETF (TSDD) have volatilities of 26.21% and 27.02%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NVDQ	TSDD	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.21%	27.02%	-0.81%
Volatility (6M) Calculated over the trailing 6-month period	53.68%	56.73%	-3.05%
Volatility (1Y) Calculated over the trailing 1-year period	70.34%	87.65%	-17.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	95.32%	114.18%	-18.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	95.32%	114.18%	-18.86%

NVDQ vs. TSDD - Expense Ratio Comparison

NVDQ has a 1.05% expense ratio, which is lower than TSDD's 1.50% expense ratio.

Dividends

NVDQ vs. TSDD - Dividend Comparison

NVDQ's dividend yield for the trailing twelve months is around 0.35%, less than TSDD's 7.22% yield.

Position	TTM	2025	2024	2023
NVDQ T-Rex 2X Inverse NVIDIA Daily Target ETF	0.35%	0.26%	4.59%	11.60%
TSDD GraniteShares 2x Short TSLA Daily ETF	7.22%	8.42%	0.00%	24.84%

Frequently Asked Questions

Can I hold both NVDQ and TSDD in my portfolio?

NVDQ and TSDD have a correlation of 0.40, 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 TSDD?

TSDD has higher volatility (27.02%) compared to NVDQ (26.21%). In terms of maximum drawdown, NVDQ dropped -99.45% vs TSDD's -99.03%.

Which ETF is better, NVDQ or TSDD?

On 1-year performance, TSDD leads with -54.15% vs -56.35% for NVDQ. On fees, NVDQ is cheaper at 1.05% per year. On volatility, NVDQ has been the lower-risk option at 26.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NVDQ or TSDD?

Over the 1-year period, TSDD has performed better with a -54.15% return vs -56.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NVDQ or TSDD?

NVDQ is cheaper with a 1.05% expense ratio, compared with 1.50% for TSDD.

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

TSDD has the higher dividend yield at 7.22%, compared with 0.35% for NVDQ.

What is the main difference between NVDQ and TSDD?

They also come from different issuers: T-Rex and GraniteShares. Their fees differ too: 1.05% for NVDQ and 1.50% for TSDD.

Which has better risk-adjusted returns?

TSDD currently has the higher Sharpe Ratio (-0.62 vs -0.81), 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.