NVDU vs. NVDS

Last updated Jul 17, 2026

NVDU (Direxion Daily NVDA Bull 2X Shares ETF) and NVDS (Tradr 1.25X NVDA Bear Daily ETF) are both exchange-traded funds - NVDU is a Leveraged Equities fund actively managed by Direxion, while NVDS is a Inverse Equities fund tracking the NVIDIA Corporation (-125%). NVDU is actively managed, while NVDS is passively managed. Over the past year, NVDU returned 15.65% vs -36.34% for NVDS. At a correlation of -1.00, they often move in opposite directions. NVDU charges 1.04%/yr vs 1.15%/yr for NVDS.

Performance

NVDU vs. NVDS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily NVDA Bull 2X Shares ETF (NVDU) and Tradr 1.25X NVDA Bear Daily ETF (NVDS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NVDU achieves a 8.46% return, which is significantly higher than NVDS's -23.67% return.

NVDU

• 1D: -4.89%
• 1M: -2.03%
• 6M: 8.26%
• YTD: 8.46%
• 1Y: 15.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NVDS

• 1D: 3.74%
• 1M: -1.20%
• 6M: -23.35%
• YTD: -23.67%
• 1Y: -36.34%
• 3Y*: -61.60%
• 5Y*: —
• 10Y*: —

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

NVDU vs. NVDS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NVDU Direxion Daily NVDA Bull 2X Shares ETF	8.46%	33.65%	289.29%	12.08%
NVDS Tradr 1.25X NVDA Bear Daily ETF	-23.67%	-58.18%	-80.03%	-12.79%

Correlation

The correlation between NVDU and NVDS is -1.00, 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	-1.00
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023	-1.00

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

Return for Risk

NVDU vs. NVDS — Risk / Return Rank

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

NVDU

NVDU Risk / Return Rank: 15
NVDU Sharpe Ratio Rank: 13
NVDU Sortino Ratio Rank: 18
NVDU Omega Ratio Rank: 17
NVDU Calmar Ratio Rank: 14
NVDU Martin Ratio Rank: 14

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

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. NVDS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily NVDA Bull 2X Shares ETF (NVDU) and Tradr 1.25X NVDA Bear Daily ETF (NVDS). 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	NVDS	Difference
Sharpe ratio: Return per unit of total volatility	0.22	-0.68	+0.90
Sortino ratio: Return per unit of downside risk	0.82	-0.79	+1.61
Omega ratio: Gain probability vs. loss probability	1.09	0.91	+0.18
Calmar ratio: Return relative to maximum drawdown	0.37	-0.77	+1.14
Martin ratio: Return relative to average drawdown	0.76	-1.53	+2.29

NVDU vs. NVDS - Sharpe Ratio Comparison

The current NVDU Sharpe Ratio is 0.22, which is higher than the NVDS Sharpe Ratio of -0.68. The chart below compares the historical Sharpe Ratios of NVDU and NVDS, 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. NVDS - Drawdown Comparison

The maximum NVDU drawdown since its inception was -67.27%, smaller than the maximum NVDS drawdown of -99.40%. Use the drawdown chart below to compare losses from any high point for NVDU and NVDS.

Drawdown Indicators

	NVDU	NVDS	Difference
Max Drawdown Largest peak-to-trough decline	-67.27%	-99.40%	+32.13%
Max Drawdown (1Y) Largest decline over 1 year	-42.27%	-47.34%	+5.07%
Max Drawdown (3Y) Largest decline over 3 years	—	-95.83%	—
Current Drawdown Current decline from peak	-26.13%	-99.30%	+73.17%
Average Drawdown Average peak-to-trough decline	-19.16%	-83.84%	+64.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.73%	23.74%	-3.01%

Volatility

NVDU vs. NVDS - Volatility Comparison

Direxion Daily NVDA Bull 2X Shares ETF (NVDU) has a higher volatility of 22.33% compared to Tradr 1.25X NVDA Bear Daily ETF (NVDS) at 16.89%. This indicates that NVDU's price experiences larger fluctuations and is considered to be riskier than NVDS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NVDU	NVDS	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.33%	16.89%	+5.44%
Volatility (6M) Calculated over the trailing 6-month period	55.02%	42.02%	+13.00%
Volatility (1Y) Calculated over the trailing 1-year period	71.10%	53.64%	+17.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	90.66%	68.69%	+21.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	90.66%	68.69%	+21.97%

NVDU vs. NVDS - Expense Ratio Comparison

NVDU has a 1.04% expense ratio, which is lower than NVDS's 1.15% expense ratio.

Dividends

NVDU vs. NVDS - Dividend Comparison

NVDU's dividend yield for the trailing twelve months is around 5.44%, less than NVDS's 18.59% yield.

Position	TTM	2025	2024	2023	2022
NVDS Tradr 1.25X NVDA Bear Daily ETF	18.59%	14.19%	14.11%	14.69%	5.72%
NVDU Direxion Daily NVDA Bull 2X Shares ETF	5.44%	5.68%	16.85%	0.63%	0.00%

Frequently Asked Questions

Can I hold both NVDU and NVDS in my portfolio?

NVDU and NVDS have a correlation of -1.00, 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 NVDS?

NVDU has higher volatility (22.33%) compared to NVDS (16.89%). In terms of maximum drawdown, NVDU dropped -67.27% vs NVDS's -99.40%.

Which ETF is better, NVDU or NVDS?

On 1-year performance, NVDU leads with 15.65% vs -36.34% for NVDS. On fees, NVDU is cheaper at 1.04% per year. On volatility, NVDS has been the lower-risk option at 16.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NVDU or NVDS?

Over the 1-year period, NVDU has performed better with a 15.65% return vs -36.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NVDU or NVDS?

NVDU is cheaper with a 1.04% expense ratio, compared with 1.15% for NVDS.

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

NVDS has the higher dividend yield at 18.59%, compared with 5.44% for NVDU.

What is the main difference between NVDU and NVDS?

NVDU is categorized as Leveraged Equities, while NVDS is Inverse Equities. They also come from different issuers: Direxion and AXS. Their fees differ too: 1.04% for NVDU and 1.15% for NVDS.

Which has better risk-adjusted returns?

NVDU currently has the higher Sharpe Ratio (0.22 vs -0.68), 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.