NVDS vs. NVDQ

Last updated Jul 14, 2026

NVDS (Tradr 1.25X NVDA Bear Daily ETF) and NVDQ (T-Rex 2X Inverse NVIDIA Daily Target ETF) are both Inverse Equities funds. NVDS is passively managed, while NVDQ is actively managed. Over the past year, NVDS returned -38.07% vs -54.11% for NVDQ. With a 1.00 correlation, they move nearly in lockstep. NVDS charges 1.15%/yr vs 1.05%/yr for NVDQ.

Performance

NVDS vs. NVDQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 1.25X NVDA Bear Daily ETF (NVDS) and T-Rex 2X Inverse NVIDIA Daily Target ETF (NVDQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NVDS achieves a -21.24% return, which is significantly higher than NVDQ's -32.44% return.

NVDS

• 1D: 5.35%
• 1M: -0.21%
• 6M: -22.24%
• YTD: -21.24%
• 1Y: -38.07%
• 3Y*: -61.55%
• 5Y*: —
• 10Y*: —

NVDQ

• 1D: 6.97%
• 1M: -1.48%
• 6M: -33.47%
• YTD: -32.44%
• 1Y: -54.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NVDS vs. NVDQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NVDS Tradr 1.25X NVDA Bear Daily ETF	-21.24%	-58.18%	-80.03%	-18.65%
NVDQ T-Rex 2X Inverse NVIDIA Daily Target ETF	-32.44%	-74.63%	-93.80%	-28.84%

Correlation

The correlation between NVDS and NVDQ 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 19, 2023	1.00

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

Return for Risk

NVDS vs. NVDQ — Risk / Return Rank

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

NVDS

NVDS Risk / Return Rank: 3
NVDS Sharpe Ratio Rank: 4
NVDS Sortino Ratio Rank: 4
NVDS Omega Ratio Rank: 4
NVDS Calmar Ratio Rank: 3
NVDS Martin Ratio Rank: 1

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: 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.

NVDS vs. NVDQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 1.25X NVDA Bear Daily ETF (NVDS) and T-Rex 2X Inverse NVIDIA Daily Target ETF (NVDQ). 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	NVDQ	Difference
Sharpe ratio: Return per unit of total volatility	-0.71	-0.77	+0.05
Sortino ratio: Return per unit of downside risk	-0.86	-1.01	+0.15
Omega ratio: Gain probability vs. loss probability	0.90	0.89	+0.02
Calmar ratio: Return relative to maximum drawdown	-0.78	-0.85	+0.07
Martin ratio: Return relative to average drawdown	-1.51	-1.50	-0.01

NVDS vs. NVDQ - Sharpe Ratio Comparison

The current NVDS Sharpe Ratio is -0.71, which is comparable to the NVDQ Sharpe Ratio of -0.77. The chart below compares the historical Sharpe Ratios of NVDS and NVDQ, 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

NVDS vs. NVDQ - Drawdown Comparison

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

Drawdown Indicators

	NVDS	NVDQ	Difference
Max Drawdown Largest peak-to-trough decline	-99.40%	-99.45%	+0.05%
Max Drawdown (1Y) Largest decline over 1 year	-48.88%	-63.49%	+14.61%
Max Drawdown (3Y) Largest decline over 3 years	-95.83%	—	—
Current Drawdown Current decline from peak	-99.28%	-99.31%	+0.03%
Average Drawdown Average peak-to-trough decline	-83.79%	-88.50%	+4.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.28%	36.14%	-10.86%

Volatility

NVDS vs. NVDQ - Volatility Comparison

The current volatility for Tradr 1.25X NVDA Bear Daily ETF (NVDS) is 16.55%, while T-Rex 2X Inverse NVIDIA Daily Target ETF (NVDQ) has a volatility of 21.64%. This indicates that NVDS experiences smaller price fluctuations and is considered to be less risky than NVDQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NVDS	NVDQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.55%	21.64%	-5.09%
Volatility (6M) Calculated over the trailing 6-month period	41.40%	55.15%	-13.75%
Volatility (1Y) Calculated over the trailing 1-year period	53.61%	71.03%	-17.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.71%	95.00%	-26.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	68.71%	95.00%	-26.29%

NVDS vs. NVDQ - Expense Ratio Comparison

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

Dividends

NVDS vs. NVDQ - Dividend Comparison

NVDS's dividend yield for the trailing twelve months is around 18.02%, more than NVDQ's 0.39% yield.

Position	TTM	2025	2024	2023	2022
NVDQ T-Rex 2X Inverse NVIDIA Daily Target ETF	0.39%	0.26%	4.59%	11.60%	0.00%
NVDS Tradr 1.25X NVDA Bear Daily ETF	18.02%	14.19%	14.11%	14.69%	5.72%

Frequently Asked Questions

Can I hold both NVDS and NVDQ in my portfolio?

With a correlation of 0.99, NVDS and NVDQ 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, NVDS or NVDQ?

NVDQ has higher volatility (21.64%) compared to NVDS (16.55%). In terms of maximum drawdown, NVDS dropped -99.40% vs NVDQ's -99.45%.

Which ETF is better, NVDS or NVDQ?

On 1-year performance, NVDS leads with -38.07% vs -54.11% for NVDQ. On fees, NVDQ is cheaper at 1.05% per year. On volatility, NVDS has been the lower-risk option at 16.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NVDS or NVDQ?

Over the 1-year period, NVDS has performed better with a -38.07% return vs -54.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NVDS or NVDQ?

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

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

NVDS has the higher dividend yield at 18.02%, compared with 0.39% for NVDQ.

What is the main difference between NVDS and NVDQ?

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

Which has better risk-adjusted returns?

NVDS currently has the higher Sharpe Ratio (-0.71 vs -0.77), 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.