NVDQ vs. USD
NVDQ (T-Rex 2X Inverse NVIDIA Daily Target ETF) and USD (ProShares Ultra Semiconductors) are both exchange-traded funds - NVDQ is a Inverse Equities fund actively managed by T-Rex, while USD is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (200%). NVDQ is actively managed, while USD is passively managed. Over the past year, NVDQ returned -69.65% vs 250.81% for USD. At a correlation of -0.91, they often move in opposite directions. NVDQ charges 1.05%/yr vs 0.95%/yr for USD.
Performance
NVDQ vs. USD - Performance Comparison
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Returns By Period
In the year-to-date period, NVDQ achieves a -38.57% return, which is significantly lower than USD's 103.32% return.
NVDQ
- 1D
- -3.82%
- 1M
- -23.21%
- YTD
- -38.57%
- 6M
- -41.67%
- 1Y
- -69.65%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
USD
- 1D
- -4.99%
- 1M
- 31.62%
- YTD
- 103.32%
- 6M
- 97.79%
- 1Y
- 250.81%
- 3Y*
- 125.78%
- 5Y*
- 67.80%
- 10Y*
- 61.24%
NVDQ vs. USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
NVDQ T-Rex 2X Inverse NVIDIA Daily Target ETF | -38.57% | -74.63% | -93.80% | -30.70% |
USD ProShares Ultra Semiconductors | 103.32% | 62.08% | 139.64% | 48.40% |
Correlation
The correlation between NVDQ and USD is -0.86, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.86 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2023 | -0.91 |
The correlation between NVDQ and USD has been stable across timeframes, ranging from -0.91 to -0.86 - a consistent structural relationship.
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Return for Risk
NVDQ vs. USD — Risk / Return Rank
NVDQ
USD
NVDQ vs. USD - 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 ProShares Ultra Semiconductors (USD). 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 | USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.15 | ||
| Sortino ratioReturn per unit of downside risk | -5.48 | ||
| Omega ratioGain probability vs. loss probability | 0.79 | 1.48 | -0.69 |
| Calmar ratioReturn relative to maximum drawdown | -0.95 | 7.94 | -8.89 |
| Martin ratioReturn relative to average drawdown | -1.43 | 22.96 | -24.39 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NVDQ | USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.03 | 4.12 | -5.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.89 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.89 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.89 | 0.49 | -1.38 |
Drawdowns
NVDQ vs. USD - Drawdown Comparison
The maximum NVDQ drawdown since its inception was -99.45%, which is greater than USD's maximum drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for NVDQ and USD.
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Drawdown Indicators
| NVDQ | USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.45% | -88.63% | -10.82% |
Max Drawdown (1Y)Largest decline over 1 year | -73.67% | -31.80% | -41.87% |
Max Drawdown (3Y)Largest decline over 3 years | — | -64.46% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -77.85% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -77.85% | — |
Current DrawdownCurrent decline from peak | -99.38% | -6.07% | -93.31% |
Average DrawdownAverage peak-to-trough decline | -88.22% | -32.35% | -55.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 48.77% | 10.98% | +37.79% |
Volatility
NVDQ vs. USD - Volatility Comparison
T-Rex 2X Inverse NVIDIA Daily Target ETF (NVDQ) has a higher volatility of 25.78% compared to ProShares Ultra Semiconductors (USD) at 21.29%. This indicates that NVDQ's price experiences larger fluctuations and is considered to be riskier than USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NVDQ | USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 25.78% | 21.29% | +4.49% |
Volatility (6M)Calculated over the trailing 6-month period | 51.89% | 46.74% | +5.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 67.77% | 61.28% | +6.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 95.47% | 76.56% | +18.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.47% | 69.24% | +26.23% |
NVDQ vs. USD - Expense Ratio Comparison
NVDQ has a 1.05% expense ratio, which is higher than USD's 0.95% expense ratio.
Dividends
NVDQ vs. USD - Dividend Comparison
NVDQ's dividend yield for the trailing twelve months is around 0.42%, more than USD's 0.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NVDQ T-Rex 2X Inverse NVIDIA Daily Target ETF | 0.42% | 0.26% | 4.59% | 11.60% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
USD ProShares Ultra Semiconductors | 0.23% | 0.39% | 0.10% | 0.05% | 0.30% | 0.00% | 0.14% | 0.72% | 0.93% | 0.32% | 0.46% | 0.39% |
Frequently Asked Questions
NVDQ and USD have a correlation of -0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NVDQ has higher volatility (25.78%) compared to USD (21.29%). In terms of maximum drawdown, NVDQ dropped -99.45% vs USD's -88.63%.
On 1-year performance, USD leads with 250.81% vs -69.65% for NVDQ. On fees, USD is cheaper at 0.95% per year. On volatility, USD has been the lower-risk option at 21.29%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, USD has performed better with a 250.81% return vs -69.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USD is cheaper with a 0.95% expense ratio, compared with 1.05% for NVDQ.
NVDQ has the higher dividend yield at 0.42%, compared with 0.23% for USD.
NVDQ is categorized as Inverse Equities, while USD is Leveraged Equities. They also come from different issuers: T-Rex and ProShares. Their fees differ too: 1.05% for NVDQ and 0.95% for USD.
USD currently has the higher Sharpe Ratio (4.12 vs -1.03), 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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