NVDX vs. NVDY

Last updated Jun 24, 2026

NVDX (T-REX 2X Long NVIDIA Daily Target ETF) and NVDY (YieldMax NVDA Option Income Strategy ETF) are both exchange-traded funds - NVDX is a Leveraged Equities fund actively managed by REX, while NVDY is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, NVDX returned 44.45% vs 33.90% for NVDY. With a 0.97 correlation, they move nearly in lockstep. NVDX charges 1.05%/yr vs 0.99%/yr for NVDY.

Performance

NVDX vs. NVDY - 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 YieldMax NVDA Option Income Strategy ETF (NVDY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NVDX achieves a -0.29% return, which is significantly lower than NVDY's 7.04% return.

NVDX

• 1D: -8.23%
• 1M: -16.04%
• YTD: -0.29%
• 6M: -3.65%
• 1Y: 44.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NVDY

• 1D: -3.24%
• 1M: -5.21%
• YTD: 7.04%
• 6M: 6.21%
• 1Y: 33.90%
• 3Y*: 50.59%
• 5Y*: —
• 10Y*: —

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

NVDX vs. NVDY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NVDX T-REX 2X Long NVIDIA Daily Target ETF	-0.29%	26.24%	384.03%	28.06%
NVDY YieldMax NVDA Option Income Strategy ETF	7.04%	27.38%	114.23%	13.55%

Correlation

The correlation between NVDX and NVDY is 0.99 - 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	0.99
Correlation (All Time) Calculated using the full available price history since Oct 19, 2023	0.97

The correlation between NVDX and NVDY has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.

Return for Risk

NVDX vs. NVDY — Risk / Return Rank

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

NVDX

NVDX Risk / Return Rank: 22
NVDX Sharpe Ratio Rank: 19
NVDX Sortino Ratio Rank: 24
NVDX Omega Ratio Rank: 22
NVDX Calmar Ratio Rank: 23
NVDX Martin Ratio Rank: 20

NVDY

NVDY Risk / Return Rank: 39
NVDY Sharpe Ratio Rank: 35
NVDY Sortino Ratio Rank: 33
NVDY Omega Ratio Rank: 32
NVDY Calmar Ratio Rank: 56
NVDY 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. NVDY - 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 YieldMax NVDA Option Income Strategy ETF (NVDY). 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.

	NVDX	NVDY	Difference
Sharpe ratio: Return per unit of total volatility	0.63	1.20	-0.57
Sortino ratio: Return per unit of downside risk	1.29	1.70	-0.41
Omega ratio: Gain probability vs. loss probability	1.15	1.21	-0.06
Calmar ratio: Return relative to maximum drawdown	1.02	2.66	-1.64
Martin ratio: Return relative to average drawdown	2.22	6.05	-3.83

NVDX vs. NVDY - Sharpe Ratio Comparison

The current NVDX Sharpe Ratio is 0.63, which is lower than the NVDY Sharpe Ratio of 1.20. The chart below compares the historical Sharpe Ratios of NVDX and NVDY, 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

NVDX vs. NVDY - Drawdown Comparison

The maximum NVDX drawdown since its inception was -68.19%, which is greater than NVDY's maximum drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for NVDX and NVDY.

Drawdown Indicators

	NVDX	NVDY	Difference
Max Drawdown Largest peak-to-trough decline	-68.19%	-34.08%	-34.11%
Max Drawdown (1Y) Largest decline over 1 year	-43.76%	-12.81%	-30.95%
Max Drawdown (3Y) Largest decline over 3 years	—	-34.08%	—
Current Drawdown Current decline from peak	-30.55%	-11.62%	-18.93%
Average Drawdown Average peak-to-trough decline	-20.34%	-6.20%	-14.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.08%	5.62%	+14.46%

Volatility

NVDX vs. NVDY - Volatility Comparison

T-REX 2X Long NVIDIA Daily Target ETF (NVDX) has a higher volatility of 26.46% compared to YieldMax NVDA Option Income Strategy ETF (NVDY) at 10.10%. This indicates that NVDX's price experiences larger fluctuations and is considered to be riskier than NVDY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NVDX	NVDY	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.46%	10.10%	+16.36%
Volatility (6M) Calculated over the trailing 6-month period	53.70%	21.63%	+32.07%
Volatility (1Y) Calculated over the trailing 1-year period	70.94%	28.32%	+42.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	95.51%	38.19%	+57.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	95.51%	38.19%	+57.32%

NVDX vs. NVDY - Expense Ratio Comparison

NVDX has a 1.05% expense ratio, which is higher than NVDY's 0.99% expense ratio.

Dividends

NVDX vs. NVDY - Dividend Comparison

NVDX's dividend yield for the trailing twelve months is around 3.36%, less than NVDY's 64.30% yield.

Position	TTM	2025	2024	2023
NVDX T-REX 2X Long NVIDIA Daily Target ETF	3.36%	3.35%	15.48%	0.00%
NVDY YieldMax NVDA Option Income Strategy ETF	64.30%	83.10%	83.65%	22.32%

Frequently Asked Questions

Can I hold both NVDX and NVDY in my portfolio?

With a correlation of 0.99, NVDX and NVDY 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 NVDY?

NVDX has higher volatility (26.46%) compared to NVDY (10.10%). In terms of maximum drawdown, NVDX dropped -68.19% vs NVDY's -34.08%.

Which ETF is better, NVDX or NVDY?

On 1-year performance, NVDX leads with 44.45% vs 33.90% for NVDY. On fees, NVDY is cheaper at 0.99% per year. On volatility, NVDY has been the lower-risk option at 10.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NVDX or NVDY?

Over the 1-year period, NVDX has performed better with a 44.45% return vs 33.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NVDX or NVDY?

NVDY is cheaper with a 0.99% expense ratio, compared with 1.05% for NVDX.

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

NVDY has the higher dividend yield at 64.30%, compared with 3.36% for NVDX.

What is the main difference between NVDX and NVDY?

NVDX is categorized as Leveraged Equities, while NVDY is Derivative Income. They also come from different issuers: REX and YieldMax. Their fees differ too: 1.05% for NVDX and 0.99% for NVDY.

Which has better risk-adjusted returns?

NVDY currently has the higher Sharpe Ratio (1.20 vs 0.63), 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.