NVDS vs. USD
NVDS (Tradr 1.25X NVDA Bear Daily ETF) and USD (ProShares Ultra Semiconductors) are both exchange-traded funds - NVDS is a Inverse Equities fund tracking the NVIDIA Corporation (-125%), while USD is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (200%). Both are passively managed. Over the past 3 years, NVDS returned -61.55%/yr vs 99.92%/yr for USD. At a correlation of -0.91, they often move in opposite directions. NVDS charges 1.15%/yr vs 0.95%/yr for USD.
Performance
NVDS vs. USD - Performance Comparison
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Returns By Period
In the year-to-date period, NVDS achieves a -21.24% return, which is significantly lower than USD's 70.32% return.
NVDS
- 1D
- 5.35%
- 1M
- -0.21%
- 6M
- -22.24%
- YTD
- -21.24%
- 1Y
- -38.07%
- 3Y*
- -61.55%
- 5Y*
- —
- 10Y*
- —
USD
- 1D
- -8.00%
- 1M
- -8.85%
- 6M
- 60.45%
- YTD
- 70.32%
- 1Y
- 127.92%
- 3Y*
- 99.92%
- 5Y*
- 59.89%
- 10Y*
- 57.21%
NVDS vs. USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
NVDS Tradr 1.25X NVDA Bear Daily ETF | -21.24% | -58.18% | -80.03% | -83.15% | -16.72% |
USD ProShares Ultra Semiconductors | 70.32% | 62.08% | 139.64% | 228.79% | -13.75% |
Correlation
The correlation between NVDS and USD is -0.84, 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 | -0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.91 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2022 | -0.91 |
The correlation between NVDS and USD has been stable across timeframes, ranging from -0.91 to -0.84 - a consistent structural relationship.
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Return for Risk
NVDS vs. USD — Risk / Return Rank
NVDS
USD
NVDS vs. USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tradr 1.25X NVDA Bear Daily ETF (NVDS) 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.
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 | USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.54 | ||
| Sortino ratioReturn per unit of downside risk | -3.05 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.29 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | 4.05 | -4.83 |
| Martin ratioReturn relative to average drawdown | -1.51 | 10.59 | -12.10 |
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Drawdowns
NVDS vs. USD - Drawdown Comparison
The maximum NVDS drawdown since its inception was -99.40%, which is greater than USD's maximum drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for NVDS and USD.
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Drawdown Indicators
| NVDS | USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.40% | -88.63% | -10.77% |
Max Drawdown (1Y)Largest decline over 1 year | -48.88% | -31.80% | -17.08% |
Max Drawdown (3Y)Largest decline over 3 years | -95.83% | -64.46% | -31.37% |
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 | -99.28% | -21.31% | -77.97% |
Average DrawdownAverage peak-to-trough decline | -83.79% | -32.25% | -51.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.28% | 12.13% | +13.15% |
Volatility
NVDS vs. USD - Volatility Comparison
The current volatility for Tradr 1.25X NVDA Bear Daily ETF (NVDS) is 16.55%, while ProShares Ultra Semiconductors (USD) has a volatility of 32.41%. This indicates that NVDS experiences smaller price fluctuations and is considered to be less risky 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
| NVDS | USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.55% | 32.41% | -15.86% |
Volatility (6M)Calculated over the trailing 6-month period | 41.40% | 57.60% | -16.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 53.61% | 70.64% | -17.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.71% | 78.22% | -9.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 68.71% | 70.05% | -1.34% |
NVDS vs. USD - Expense Ratio Comparison
NVDS has a 1.15% expense ratio, which is higher than USD's 0.95% expense ratio.
Dividends
NVDS vs. USD - Dividend Comparison
NVDS's dividend yield for the trailing twelve months is around 18.02%, more than USD's 0.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NVDS Tradr 1.25X NVDA Bear Daily ETF | 18.02% | 14.19% | 14.11% | 14.69% | 5.72% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
USD ProShares Ultra Semiconductors | 0.34% | 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
NVDS and USD have a correlation of -0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USD has higher volatility (32.41%) compared to NVDS (16.55%). In terms of maximum drawdown, NVDS dropped -99.40% vs USD's -88.63%.
On 3-year performance, USD leads with 99.92% vs -61.55% for NVDS. On fees, USD is cheaper at 0.95% 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.
Over the 3-year period, USD has performed better with a 99.92% return vs -61.55%. 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 1.15% for NVDS.
NVDS has the higher dividend yield at 18.02%, compared with 0.34% for USD.
NVDS is categorized as Inverse Equities, while USD is Leveraged Equities. NVDS tracks NVIDIA Corporation (-125%), while USD tracks Dow Jones U.S. Semiconductors Index (200%). They also come from different issuers: AXS and ProShares. Their fees differ too: 1.15% for NVDS and 0.95% for USD.
USD currently has the higher Sharpe Ratio (1.83 vs -0.71), 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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