NVDS vs. PPI

Last updated Jun 3, 2026

NVDS (Tradr 1.25X NVDA Bear Daily ETF) and PPI (AXS Astoria Inflation Sensitive ETF) are both exchange-traded funds - NVDS is a Inverse Equities fund tracking the NVIDIA Corporation (-125%), while PPI is a Global Allocation fund actively managed by AXS. NVDS is passively managed, while PPI is actively managed. A 0.50 correlation means they provide meaningful diversification when combined. NVDS charges 1.15%/yr vs 0.76%/yr for PPI.

Performance

NVDS vs. PPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 1.25X NVDA Bear Daily ETF (NVDS) and AXS Astoria Inflation Sensitive ETF (PPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

NVDS

• 1D: 1.18%
• 1M: -17.63%
• YTD: -29.31%
• 6M: -32.74%
• 1Y: -58.02%
• 3Y*: -65.20%
• 5Y*: —
• 10Y*: —

PPI

• 1D: 1.01%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NVDS vs. PPI - Yearly Performance Comparison

	2026 (YTD)
NVDS Tradr 1.25X NVDA Bear Daily ETF	-6.34%
PPI AXS Astoria Inflation Sensitive ETF	-0.46%

Correlation

The correlation between NVDS and PPI is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 29, 2026	0.50

Return for Risk

NVDS vs. PPI — Risk / Return Rank

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

NVDS

NVDS Risk / Return Rank: 1
NVDS Sharpe Ratio Rank: 1
NVDS Sortino Ratio Rank: 1
NVDS Omega Ratio Rank: 1
NVDS Calmar Ratio Rank: 1
NVDS 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. PPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 1.25X NVDA Bear Daily ETF (NVDS) and AXS Astoria Inflation Sensitive ETF (PPI). 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.

	NVDS	PPI	Difference
Sharpe ratio Return per unit of total volatility	-1.14	—	—
Sortino ratio Return per unit of downside risk	-1.91	—	—
Omega ratio Gain probability vs. loss probability	0.79	—	—
Calmar ratio Return relative to maximum drawdown	-0.97	—	—
Martin ratio Return relative to average drawdown	-1.53	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	NVDS	PPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.14	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-1.03	-2.46	+1.43

Drawdowns

NVDS vs. PPI - Drawdown Comparison

The maximum NVDS drawdown since its inception was -99.40%, which is greater than PPI's maximum drawdown of -1.46%. Use the drawdown chart below to compare losses from any high point for NVDS and PPI.

Drawdown Indicators

	NVDS	PPI	Difference
Max Drawdown Largest peak-to-trough decline	-99.40%	-1.46%	-97.94%
Max Drawdown (1Y) Largest decline over 1 year	-59.88%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-96.32%	—	—
Current Drawdown Current decline from peak	-99.35%	-0.46%	-98.89%
Average Drawdown Average peak-to-trough decline	-83.38%	-0.86%	-82.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	38.60%	—	—

Volatility

Volatility by Period

	NVDS	PPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.32%	—	—
Volatility (6M) Calculated over the trailing 6-month period	38.28%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	50.88%	15.98%	+34.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.85%	15.98%	+52.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	68.85%	15.98%	+52.87%

NVDS vs. PPI - Expense Ratio Comparison

NVDS has a 1.15% expense ratio, which is higher than PPI's 0.76% expense ratio.

Dividends

NVDS vs. PPI - Dividend Comparison

NVDS's dividend yield for the trailing twelve months is around 20.07%, while PPI has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
NVDS Tradr 1.25X NVDA Bear Daily ETF	20.07%	14.19%	14.11%	14.69%	5.72%
PPI AXS Astoria Inflation Sensitive ETF	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NVDS and PPI in my portfolio?

NVDS and PPI have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NVDS or PPI?

On fees, PPI is cheaper at 0.76% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NVDS or PPI?

PPI is cheaper with a 0.76% expense ratio, compared with 1.15% for NVDS.

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

NVDS has the higher dividend yield at 20.07%, compared with 0.00% for PPI.

What is the main difference between NVDS and PPI?

NVDS is categorized as Inverse Equities, while PPI is Global Allocation. Their fees differ too: 1.15% for NVDS and 0.76% for PPI.