NVDU vs. NVDG

Last updated Jun 5, 2026

NVDU (Direxion Daily NVDA Bull 2X Shares ETF) and NVDG (Leverage Shares 2X Long NVDA Daily ETF) are both Leveraged Equities funds. Both are actively managed. Over the past year, NVDU returned 90.38% vs 88.87% for NVDG. With a 1.00 correlation, they move nearly in lockstep. NVDU charges 1.04%/yr vs 0.75%/yr for NVDG.

Performance

NVDU vs. NVDG - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with NVDU having a 24.68% return and NVDG slightly lower at 23.86%.

NVDU

• 1D: 3.97%
• 1M: 21.27%
• YTD: 24.68%
• 6M: 26.89%
• 1Y: 90.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NVDG

• 1D: 4.14%
• 1M: 21.48%
• YTD: 23.86%
• 6M: 26.22%
• 1Y: 88.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NVDU vs. NVDG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NVDU Direxion Daily NVDA Bull 2X Shares ETF	24.68%	33.65%	-0.91%
NVDG Leverage Shares 2X Long NVDA Daily ETF	23.86%	32.45%	-0.75%

Correlation

The correlation between NVDU and NVDG is 1.00 - 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	1.00
Correlation (All Time) Calculated using the full available price history since Dec 16, 2024	1.00

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

Return for Risk

NVDU vs. NVDG — Risk / Return Rank

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

NVDU

NVDU Risk / Return Rank: 38
NVDU Sharpe Ratio Rank: 39
NVDU Sortino Ratio Rank: 39
NVDU Omega Ratio Rank: 36
NVDU Calmar Ratio Rank: 44
NVDU Martin Ratio Rank: 33

NVDG

NVDG Risk / Return Rank: 37
NVDG Sharpe Ratio Rank: 38
NVDG Sortino Ratio Rank: 38
NVDG Omega Ratio Rank: 36
NVDG Calmar Ratio Rank: 43
NVDG Martin Ratio Rank: 32

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. NVDG - Risk-Adjusted Trends Comparison

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

	NVDU	NVDG	Difference
Sharpe ratio: Return per unit of total volatility	1.34	1.32	+0.02
Sortino ratio: Return per unit of downside risk	1.96	1.94	+0.02
Omega ratio: Gain probability vs. loss probability	1.23	1.23	0.00
Calmar ratio: Return relative to maximum drawdown	2.15	2.09	+0.06
Martin ratio: Return relative to average drawdown	4.90	4.75	+0.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NVDU vs. NVDG - Sharpe Ratio Comparison

The current NVDU Sharpe Ratio is 1.34, which is comparable to the NVDG Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of NVDU and NVDG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NVDU	NVDG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.34	1.32	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	1.17	0.44	+0.73

Drawdowns

NVDU vs. NVDG - Drawdown Comparison

The maximum NVDU drawdown since its inception was -67.27%, roughly equal to the maximum NVDG drawdown of -66.19%. Use the drawdown chart below to compare losses from any high point for NVDU and NVDG.

Drawdown Indicators

	NVDU	NVDG	Difference
Max Drawdown Largest peak-to-trough decline	-67.27%	-66.19%	-1.08%
Max Drawdown (1Y) Largest decline over 1 year	-42.27%	-42.72%	+0.45%
Current Drawdown Current decline from peak	-15.08%	-14.96%	-0.12%
Average Drawdown Average peak-to-trough decline	-18.83%	-23.05%	+4.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.50%	18.79%	-0.29%

Volatility

NVDU vs. NVDG - Volatility Comparison

Direxion Daily NVDA Bull 2X Shares ETF (NVDU) and Leverage Shares 2X Long NVDA Daily ETF (NVDG) have volatilities of 24.76% and 25.17%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NVDU	NVDG	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.76%	25.17%	-0.41%
Volatility (6M) Calculated over the trailing 6-month period	50.62%	50.28%	+0.34%
Volatility (1Y) Calculated over the trailing 1-year period	67.91%	67.73%	+0.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	91.02%	90.65%	+0.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	91.02%	90.65%	+0.37%

NVDU vs. NVDG - Expense Ratio Comparison

NVDU has a 1.04% expense ratio, which is higher than NVDG's 0.75% expense ratio.

Dividends

NVDU vs. NVDG - Dividend Comparison

NVDU's dividend yield for the trailing twelve months is around 4.65%, less than NVDG's 9.54% yield.

Position	TTM	2025	2024	2023
NVDG Leverage Shares 2X Long NVDA Daily ETF	9.54%	11.81%	0.00%	0.00%
NVDU Direxion Daily NVDA Bull 2X Shares ETF	4.65%	5.68%	16.85%	0.63%

Frequently Asked Questions

Can I hold both NVDU and NVDG in my portfolio?

With a correlation of 1.00, NVDU and NVDG 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, NVDU or NVDG?

NVDG has higher volatility (25.17%) compared to NVDU (24.76%). In terms of maximum drawdown, NVDU dropped -67.27% vs NVDG's -66.19%.

Which ETF is better, NVDU or NVDG?

On 1-year performance, NVDU leads with 90.38% vs 88.87% for NVDG. On fees, NVDG is cheaper at 0.75% per year. On volatility, NVDU has been the lower-risk option at 24.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NVDU or NVDG?

Over the 1-year period, NVDU has performed better with a 90.38% return vs 88.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NVDU or NVDG?

NVDG is cheaper with a 0.75% expense ratio, compared with 1.04% for NVDU.

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

NVDG has the higher dividend yield at 9.54%, compared with 4.65% for NVDU.

What is the main difference between NVDU and NVDG?

They also come from different issuers: Direxion and Leverage Shares. Their fees differ too: 1.04% for NVDU and 0.75% for NVDG.

Which has better risk-adjusted returns?

NVDU currently has the higher Sharpe Ratio (1.34 vs 1.32), 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.