NVDX vs. NVDU

Last updated Jun 3, 2026

NVDX (T-REX 2X Long NVIDIA Daily Target ETF) and NVDU (Direxion Daily NVDA Bull 2X Shares ETF) are both Leveraged Equities funds. Both are actively managed. Over the past year, NVDX returned 99.01% vs 110.52% for NVDU. With a 1.00 correlation, they move nearly in lockstep. NVDX charges 1.05%/yr vs 1.04%/yr for NVDU.

Performance

NVDX vs. NVDU - Performance Comparison

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

Returns By Period

In the year-to-date period, NVDX achieves a 26.23% return, which is significantly lower than NVDU's 29.37% return.

NVDX

• 1D: -1.37%
• 1M: 22.92%
• YTD: 26.23%
• 6M: 30.31%
• 1Y: 99.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NVDU

• 1D: -1.47%
• 1M: 23.27%
• YTD: 29.37%
• 6M: 34.58%
• 1Y: 110.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NVDX vs. NVDU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NVDX T-REX 2X Long NVIDIA Daily Target ETF	26.23%	26.24%	384.03%	32.65%
NVDU Direxion Daily NVDA Bull 2X Shares ETF	29.37%	33.65%	289.29%	24.91%

Correlation

The correlation between NVDX and NVDU 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 Oct 20, 2023	1.00

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

NVDX vs. NVDU - Sectors Allocation Comparison

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

Return for Risk

NVDX vs. NVDU — Risk / Return Rank

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

NVDX

NVDX Risk / Return Rank: 40
NVDX Sharpe Ratio Rank: 41
NVDX Sortino Ratio Rank: 40
NVDX Omega Ratio Rank: 37
NVDX Calmar Ratio Rank: 48
NVDX Martin Ratio Rank: 35

NVDU

NVDU Risk / Return Rank: 45
NVDU Sharpe Ratio Rank: 47
NVDU Sortino Ratio Rank: 44
NVDU Omega Ratio Rank: 41
NVDU Calmar Ratio Rank: 56
NVDU Martin Ratio Rank: 40

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.

NVDX vs. NVDU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-REX 2X Long NVIDIA Daily Target ETF (NVDX) and Direxion Daily NVDA Bull 2X Shares ETF (NVDU). 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.

	NVDX	NVDU	Difference
Sharpe ratio Return per unit of total volatility	1.46	1.64	-0.18
Sortino ratio Return per unit of downside risk	2.07	2.21	-0.14
Omega ratio Gain probability vs. loss probability	1.25	1.27	-0.02
Calmar ratio Return relative to maximum drawdown	2.43	2.80	-0.37
Martin ratio Return relative to average drawdown	5.53	6.42	-0.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NVDX vs. NVDU - Sharpe Ratio Comparison

The current NVDX Sharpe Ratio is 1.46, which is comparable to the NVDU Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of NVDX and NVDU, 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

	NVDX	NVDU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.46	1.64	-0.18
Sharpe Ratio (All Time) Calculated using the full available price history	1.52	1.21	+0.31

Drawdowns

NVDX vs. NVDU - Drawdown Comparison

The maximum NVDX drawdown since its inception was -68.19%, roughly equal to the maximum NVDU drawdown of -67.27%. Use the drawdown chart below to compare losses from any high point for NVDX and NVDU.

Drawdown Indicators

	NVDX	NVDU	Difference
Max Drawdown Largest peak-to-trough decline	-68.19%	-67.27%	-0.92%
Max Drawdown (1Y) Largest decline over 1 year	-43.76%	-42.27%	-1.49%
Current Drawdown Current decline from peak	-12.08%	-11.89%	-0.19%
Average Drawdown Average peak-to-trough decline	-20.28%	-18.84%	-1.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.24%	18.44%	+0.80%

Volatility

NVDX vs. NVDU - Volatility Comparison

T-REX 2X Long NVIDIA Daily Target ETF (NVDX) and Direxion Daily NVDA Bull 2X Shares ETF (NVDU) have volatilities of 23.25% and 23.20%, 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

	NVDX	NVDU	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.25%	23.20%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	50.41%	49.98%	+0.43%
Volatility (1Y) Calculated over the trailing 1-year period	68.12%	67.67%	+0.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	95.54%	91.00%	+4.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	95.54%	91.00%	+4.54%

NVDX vs. NVDU - Expense Ratio Comparison

NVDX has a 1.05% expense ratio, which is higher than NVDU's 1.04% expense ratio.

Dividends

NVDX vs. NVDU - Dividend Comparison

NVDX's dividend yield for the trailing twelve months is around 2.65%, less than NVDU's 4.48% yield.

Position	TTM	2025	2024	2023
NVDU Direxion Daily NVDA Bull 2X Shares ETF	4.48%	5.68%	16.85%	0.63%
NVDX T-REX 2X Long NVIDIA Daily Target ETF	2.65%	3.35%	15.48%	0.00%

Frequently Asked Questions

Can I hold both NVDX and NVDU in my portfolio?

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

NVDX has higher volatility (23.25%) compared to NVDU (23.20%). In terms of maximum drawdown, NVDX dropped -68.19% vs NVDU's -67.27%.

Which ETF is better, NVDX or NVDU?

On 1-year performance, NVDU leads with 110.52% vs 99.01% for NVDX. On fees, NVDU is cheaper at 1.04% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NVDX or NVDU?

Over the 1-year period, NVDU has performed better with a 110.52% return vs 99.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NVDX or NVDU?

NVDU is cheaper with a 1.04% expense ratio, compared with 1.05% for NVDX.

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

NVDU has the higher dividend yield at 4.48%, compared with 2.65% for NVDX.

What is the main difference between NVDX and NVDU?

They also come from different issuers: REX and Direxion. Their fees differ too: 1.05% for NVDX and 1.04% for NVDU.

Which has better risk-adjusted returns?

NVDU currently has the higher Sharpe Ratio (1.64 vs 1.46), 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.