NVDU vs. USD

Last updated Jun 24, 2026

NVDU (Direxion Daily NVDA Bull 2X Shares ETF) and USD (ProShares Ultra Semiconductors) are both Leveraged Equities funds. NVDU is actively managed, while USD is passively managed. Over the past year, NVDU returned 51.92% vs 206.76% for USD. Their correlation of 0.91 suggests significant overlap in exposure. NVDU charges 1.04%/yr vs 0.95%/yr for USD.

Performance

NVDU vs. USD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily NVDA Bull 2X Shares ETF (NVDU) and ProShares Ultra Semiconductors (USD). 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 USD's 84.65% return.

NVDU

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

USD

• 1D: -12.35%
• 1M: 1.73%
• YTD: 84.65%
• 6M: 79.76%
• 1Y: 206.76%
• 3Y*: 114.28%
• 5Y*: 63.13%
• 10Y*: 61.02%

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

NVDU vs. USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NVDU Direxion Daily NVDA Bull 2X Shares ETF	2.08%	33.65%	289.29%	12.08%
USD ProShares Ultra Semiconductors	84.65%	62.08%	139.64%	32.54%

Correlation

The correlation between NVDU and USD is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023	0.91

The correlation between NVDU and USD has been stable across timeframes, ranging from 0.86 to 0.91 - a consistent structural relationship.

NVDU vs. USD - Sectors Allocation Comparison

Sectors	NVDU	USD
Technology	100.0%	26.3%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	0.0%
Financial Services	-	26.0%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

NVDU vs. USD — 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

USD

USD Risk / Return Rank: 82
USD Sharpe Ratio Rank: 92
USD Sortino Ratio Rank: 67
USD Omega Ratio Rank: 71
USD Calmar Ratio Rank: 94
USD Martin Ratio Rank: 87

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. USD - Risk-Adjusted Trends Comparison

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

	NVDU	USD	Difference
Sharpe ratio: Return per unit of total volatility	0.74	3.06	-2.32
Sortino ratio: Return per unit of downside risk	1.40	2.94	-1.54
Omega ratio: Gain probability vs. loss probability	1.17	1.40	-0.24
Calmar ratio: Return relative to maximum drawdown	1.23	6.54	-5.31
Martin ratio: Return relative to average drawdown	2.70	18.16	-15.46

NVDU vs. USD - Sharpe Ratio Comparison

The current NVDU Sharpe Ratio is 0.74, which is lower than the USD Sharpe Ratio of 3.06. The chart below compares the historical Sharpe Ratios of NVDU and USD, 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. USD - Drawdown Comparison

The maximum NVDU drawdown since its inception was -67.27%, smaller than the maximum USD drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for NVDU and USD.

Drawdown Indicators

	NVDU	USD	Difference
Max Drawdown Largest peak-to-trough decline	-67.27%	-88.63%	+21.36%
Max Drawdown (1Y) Largest decline over 1 year	-42.27%	-31.80%	-10.47%
Max Drawdown (3Y) Largest decline over 3 years	—	-64.46%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-77.85%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-77.85%	—
Current Drawdown Current decline from peak	-30.48%	-14.69%	-15.79%
Average Drawdown Average peak-to-trough decline	-18.91%	-32.29%	+13.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.30%	11.44%	+7.86%

Volatility

NVDU vs. USD - Volatility Comparison

The current volatility for Direxion Daily NVDA Bull 2X Shares ETF (NVDU) is 26.33%, while ProShares Ultra Semiconductors (USD) has a volatility of 34.07%. This indicates that NVDU 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.

Volatility by Period

	NVDU	USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.33%	34.07%	-7.74%
Volatility (6M) Calculated over the trailing 6-month period	53.28%	54.13%	-0.85%
Volatility (1Y) Calculated over the trailing 1-year period	70.48%	67.96%	+2.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	91.03%	77.73%	+13.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	91.03%	69.83%	+21.20%

NVDU vs. USD - Expense Ratio Comparison

NVDU has a 1.04% expense ratio, which is higher than USD's 0.95% expense ratio.

Dividends

NVDU vs. USD - Dividend Comparison

NVDU's dividend yield for the trailing twelve months is around 5.68%, more than USD's 0.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NVDU Direxion Daily NVDA Bull 2X Shares ETF	5.68%	5.68%	16.85%	0.63%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USD ProShares Ultra Semiconductors	0.25%	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

Can I hold both NVDU and USD in my portfolio?

NVDU and USD have a correlation of 0.86, 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 USD?

USD has higher volatility (34.07%) compared to NVDU (26.33%). In terms of maximum drawdown, NVDU dropped -67.27% vs USD's -88.63%.

Which ETF is better, NVDU or USD?

On 1-year performance, USD leads with 206.76% vs 51.92% for NVDU. On fees, USD is cheaper at 0.95% 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 USD?

Over the 1-year period, USD has performed better with a 206.76% 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 USD?

USD is cheaper with a 0.95% expense ratio, compared with 1.04% for NVDU.

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

NVDU has the higher dividend yield at 5.68%, compared with 0.25% for USD.

What is the main difference between NVDU and USD?

They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.04% for NVDU and 0.95% for USD.

Which has better risk-adjusted returns?

USD currently has the higher Sharpe Ratio (3.06 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.