NVDS vs. FLYD
NVDS (Tradr 1.25X NVDA Bear Daily ETF) and FLYD (MicroSectors Travel -3X Inverse Leveraged ETNs) are both Inverse Equities funds - NVDS tracks the NVIDIA Corporation (-125%) while FLYD tracks the MerQube MicroSectors U.S. Travel Index. Both are passively managed. Over the past 3 years, NVDS returned -62.25%/yr vs -54.34%/yr for FLYD. Their 0.42 correlation means their historical movements had little consistent relationship. NVDS charges 1.15%/yr vs 0.95%/yr for FLYD.
Performance
NVDS vs. FLYD - Performance Comparison
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Returns By Period
In the year-to-date period, NVDS achieves a -24.21% return, which is significantly higher than FLYD's -32.48% return.
NVDS
- 1D
- -4.24%
- 1M
- -10.37%
- 6M
- -24.26%
- YTD
- -24.21%
- 1Y
- -35.38%
- 3Y*
- -62.25%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -68.81%
FLYD
- 1D
- -4.80%
- 1M
- -0.16%
- 6M
- -34.69%
- YTD
- -32.48%
- 1Y
- -51.22%
- 3Y*
- -54.34%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -63.25%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $95.16K | $124.25K | $135.88K | |
| $5.22M | $5.62M | $7.37M |
NVDS vs. FLYD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
NVDS Tradr 1.25X NVDA Bear Daily ETF | -24.21% | -58.18% | -80.03% | -83.15% | -16.72% |
FLYD MicroSectors Travel -3X Inverse Leveraged ETNs | -32.48% | -60.42% | -54.13% | -75.14% | -42.79% |
Correlation
The correlation between NVDS and FLYD is 0.20, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.20 |
Correlation (3Y) Balances recent behavior with more history. | 0.33 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2022 | 0.42 |
Over the past year, the correlation between NVDS and FLYD has dropped to 0.20 - well below their long-term average of 0.42, suggesting their price drivers have been diverging.
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Return for Risk
NVDS vs. FLYD — Risk / Return Rank
NVDS
FLYD
NVDS vs. FLYD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tradr 1.25X NVDA Bear Daily ETF (NVDS) and MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD). 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.
| NVDS | FLYD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 0.92 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.75 | -0.92 | +0.16 |
| Martin ratioReturn relative to average drawdown | -1.44 | -1.69 | +0.25 |
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Drawdowns
NVDS vs. FLYD - Drawdown Comparison
The maximum NVDS drawdown since its inception was -99.40%, roughly equal to the maximum FLYD drawdown of -98.49%. Use the drawdown chart below to compare losses from any high point for NVDS and FLYD.
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Drawdown Indicators
| NVDS | FLYD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.40% | -98.49% | -0.91% |
Max Drawdown (1Y)Largest decline over 1 year | -47.10% | -56.11% | +9.01% |
Max Drawdown (3Y)Largest decline over 3 years | -95.83% | -94.73% | -1.10% |
Current DrawdownCurrent decline from peak | -99.31% | -98.44% | -0.87% |
Average DrawdownAverage peak-to-trough decline | -84.02% | -83.64% | -0.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.60% | 30.37% | -5.77% |
Volatility
NVDS vs. FLYD - Volatility Comparison
The current volatility for Tradr 1.25X NVDA Bear Daily ETF (NVDS) is 18.42%, while MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD) has a volatility of 22.40%. This indicates that NVDS experiences smaller price fluctuations and is considered to be less risky than FLYD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NVDS | FLYD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.42% | 22.40% | -3.98% |
Volatility (6M)Calculated over the trailing 6-month period | 43.03% | 64.43% | -21.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.77% | 76.86% | -22.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.61% | 83.53% | -14.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 68.61% | 83.53% | -14.92% |
NVDS vs. FLYD - Expense Ratio Comparison
NVDS has a 1.15% expense ratio, which is higher than FLYD's 0.95% expense ratio.
Dividends
NVDS vs. FLYD - Dividend Comparison
NVDS's dividend yield for the trailing twelve months is around 18.72%, while FLYD has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
FLYD MicroSectors Travel -3X Inverse Leveraged ETNs | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
NVDS Tradr 1.25X NVDA Bear Daily ETF | 18.72% | 14.19% | 14.11% | 14.69% | 5.72% |
Frequently Asked Questions
NVDS and FLYD have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLYD has higher volatility (22.40%) compared to NVDS (18.42%). In terms of maximum drawdown, NVDS dropped -99.40% vs FLYD's -98.49%.
On 3-year performance, FLYD leads with -54.34% vs -62.25% for NVDS. On fees, FLYD is cheaper at 0.95% per year. On volatility, NVDS has been the lower-risk option at 18.42%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, FLYD has performed better with a -54.34% return vs -62.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLYD is cheaper with a 0.95% expense ratio, compared with 1.15% for NVDS.
NVDS has the higher dividend yield at 18.72%, compared with 0.00% for FLYD.
NVDS tracks NVIDIA Corporation (-125%), while FLYD tracks MerQube MicroSectors U.S. Travel Index. They also come from different issuers: AXS and REX. Their fees differ too: 1.15% for NVDS and 0.95% for FLYD.
NVDS currently has the higher Sharpe Ratio (-0.65 vs -0.67), 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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