NVDU vs. DLLL

Last updated Jun 24, 2026

NVDU (Direxion Daily NVDA Bull 2X Shares ETF) and DLLL (GraniteShares 2x Long DELL Daily ETF) are both Leveraged Equities funds. NVDU is actively managed, while DLLL is passively managed. Over the past year, NVDU returned 51.92% vs 765.95% for DLLL. At a 0.43 correlation, their price movements are largely independent. NVDU charges 1.04%/yr vs 1.50%/yr for DLLL.

Performance

NVDU vs. DLLL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily NVDA Bull 2X Shares ETF (NVDU) and GraniteShares 2x Long DELL Daily ETF (DLLL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NVDU achieves a 2.08% return, which is significantly lower than DLLL's 762.51% return.

NVDU

• 1D: -8.71%
• 1M: -16.05%
• YTD: 2.08%
• 6M: -1.18%
• 1Y: 51.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DLLL

• 1D: 4.21%
• 1M: 89.37%
• YTD: 762.51%
• 6M: 738.64%
• 1Y: 765.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NVDU vs. DLLL - Yearly Performance Comparison

	2026 (YTD)	2025
NVDU Direxion Daily NVDA Bull 2X Shares ETF	2.08%	52.86%
DLLL GraniteShares 2x Long DELL Daily ETF	762.51%	-3.72%

Correlation

The correlation between NVDU and DLLL is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (All Time) Calculated using the full available price history since Feb 13, 2025	0.43

The correlation between NVDU and DLLL shifts across timeframes, from 0.33 (1 year) to 0.43 (all time), reflecting how their relationship changes across market environments.

NVDU vs. DLLL - Sectors Allocation Comparison

Sectors	NVDU	DLLL
Technology	100.0%	66.6%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

NVDU vs. DLLL — Risk / Return Rank

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

NVDU

NVDU Risk / Return Rank: 24
NVDU Sharpe Ratio Rank: 22
NVDU Sortino Ratio Rank: 26
NVDU Omega Ratio Rank: 25
NVDU Calmar Ratio Rank: 26
NVDU Martin Ratio Rank: 22

DLLL

DLLL Risk / Return Rank: 96
DLLL Sharpe Ratio Rank: 99
DLLL Sortino Ratio Rank: 94
DLLL Omega Ratio Rank: 92
DLLL Calmar Ratio Rank: 98
DLLL Martin Ratio Rank: 95

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.

NVDU vs. DLLL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily NVDA Bull 2X Shares ETF (NVDU) and GraniteShares 2x Long DELL Daily ETF (DLLL). 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.

	NVDU	DLLL	Difference
Sharpe ratio: Return per unit of total volatility	0.74	5.91	-5.17
Sortino ratio: Return per unit of downside risk	1.40	4.55	-3.15
Omega ratio: Gain probability vs. loss probability	1.17	1.56	-0.39
Calmar ratio: Return relative to maximum drawdown	1.23	13.52	-12.29
Martin ratio: Return relative to average drawdown	2.70	27.52	-24.83

NVDU vs. DLLL - Sharpe Ratio Comparison

The current NVDU Sharpe Ratio is 0.74, which is lower than the DLLL Sharpe Ratio of 5.91. The chart below compares the historical Sharpe Ratios of NVDU and DLLL, 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

NVDU vs. DLLL - Drawdown Comparison

The maximum NVDU drawdown since its inception was -67.27%, roughly equal to the maximum DLLL drawdown of -68.58%. Use the drawdown chart below to compare losses from any high point for NVDU and DLLL.

Drawdown Indicators

	NVDU	DLLL	Difference
Max Drawdown Largest peak-to-trough decline	-67.27%	-68.58%	+1.31%
Max Drawdown (1Y) Largest decline over 1 year	-42.27%	-57.19%	+14.92%
Current Drawdown Current decline from peak	-30.48%	-18.41%	-12.07%
Average Drawdown Average peak-to-trough decline	-18.91%	-25.86%	+6.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.30%	28.05%	-8.75%

Volatility

NVDU vs. DLLL - Volatility Comparison

The current volatility for Direxion Daily NVDA Bull 2X Shares ETF (NVDU) is 26.33%, while GraniteShares 2x Long DELL Daily ETF (DLLL) has a volatility of 66.89%. This indicates that NVDU experiences smaller price fluctuations and is considered to be less risky than DLLL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NVDU	DLLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.33%	66.89%	-40.56%
Volatility (6M) Calculated over the trailing 6-month period	53.28%	102.56%	-49.28%
Volatility (1Y) Calculated over the trailing 1-year period	70.48%	131.00%	-60.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	91.03%	129.67%	-38.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	91.03%	129.67%	-38.64%

NVDU vs. DLLL - Expense Ratio Comparison

NVDU has a 1.04% expense ratio, which is lower than DLLL's 1.50% expense ratio.

Dividends

NVDU vs. DLLL - Dividend Comparison

NVDU's dividend yield for the trailing twelve months is around 5.68%, while DLLL has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
DLLL GraniteShares 2x Long DELL Daily ETF	0.00%	0.00%	0.00%	0.00%
NVDU Direxion Daily NVDA Bull 2X Shares ETF	5.68%	5.68%	16.85%	0.63%

Frequently Asked Questions

Can I hold both NVDU and DLLL in my portfolio?

NVDU and DLLL have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NVDU or DLLL?

DLLL has higher volatility (66.89%) compared to NVDU (26.33%). In terms of maximum drawdown, NVDU dropped -67.27% vs DLLL's -68.58%.

Which ETF is better, NVDU or DLLL?

On 1-year performance, DLLL leads with 765.95% vs 51.92% for NVDU. On fees, NVDU is cheaper at 1.04% per year. On volatility, NVDU has been the lower-risk option at 26.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NVDU or DLLL?

Over the 1-year period, DLLL has performed better with a 765.95% return vs 51.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NVDU or DLLL?

NVDU is cheaper with a 1.04% expense ratio, compared with 1.50% for DLLL.

Which ETF pays a higher dividend yield, NVDU or DLLL?

NVDU has the higher dividend yield at 5.68%, compared with 0.00% for DLLL.

What is the main difference between NVDU and DLLL?

They also come from different issuers: Direxion and GraniteShares. Their fees differ too: 1.04% for NVDU and 1.50% for DLLL.

Which has better risk-adjusted returns?

DLLL currently has the higher Sharpe Ratio (5.91 vs 0.74), 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.