SCDL vs. NVDG

Last updated Jun 4, 2026

SCDL (ETRACS 2x Leveraged U.S. Dividend Factor TR ETN) and NVDG (Leverage Shares 2X Long NVDA Daily ETF) are both Leveraged Equities funds. SCDL is passively managed, while NVDG is actively managed. Over the past year, SCDL returned 50.97% vs 83.14% for NVDG. At a 0.02 correlation, their price movements are largely independent. SCDL charges 0.95%/yr vs 0.75%/yr for NVDG.

Performance

SCDL vs. NVDG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETRACS 2x Leveraged U.S. Dividend Factor TR ETN (SCDL) and Leverage Shares 2X Long NVDA Daily ETF (NVDG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SCDL achieves a 37.06% return, which is significantly higher than NVDG's 18.93% return.

SCDL

• 1D: 0.51%
• 1M: 5.01%
• YTD: 37.06%
• 6M: 35.80%
• 1Y: 50.97%
• 3Y*: 22.79%
• 5Y*: 9.40%
• 10Y*: —

NVDG

• 1D: -7.35%
• 1M: 14.07%
• YTD: 18.93%
• 6M: 26.05%
• 1Y: 83.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SCDL vs. NVDG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SCDL ETRACS 2x Leveraged U.S. Dividend Factor TR ETN	37.06%	2.05%	-6.25%
NVDG Leverage Shares 2X Long NVDA Daily ETF	18.93%	32.45%	-0.75%

Correlation

The correlation between SCDL and NVDG is -0.14, 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	-0.14
Correlation (All Time) Calculated using the full available price history since Dec 16, 2024	0.02

The correlation between SCDL and NVDG shifts across timeframes, from -0.14 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SCDL vs. NVDG — Risk / Return Rank

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

SCDL

SCDL Risk / Return Rank: 73
SCDL Sharpe Ratio Rank: 73
SCDL Sortino Ratio Rank: 75
SCDL Omega Ratio Rank: 64
SCDL Calmar Ratio Rank: 87
SCDL Martin Ratio Rank: 68

NVDG

NVDG Risk / Return Rank: 34
NVDG Sharpe Ratio Rank: 34
NVDG Sortino Ratio Rank: 35
NVDG Omega Ratio Rank: 33
NVDG Calmar Ratio Rank: 39
NVDG Martin Ratio Rank: 30

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.

SCDL vs. NVDG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ETRACS 2x Leveraged U.S. Dividend Factor TR ETN (SCDL) 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.

	SCDL	NVDG	Difference
Sharpe ratio: Return per unit of total volatility	2.37	1.24	+1.13
Sortino ratio: Return per unit of downside risk	3.41	1.87	+1.54
Omega ratio: Gain probability vs. loss probability	1.39	1.22	+0.17
Calmar ratio: Return relative to maximum drawdown	5.03	1.96	+3.07
Martin ratio: Return relative to average drawdown	12.65	4.44	+8.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SCDL vs. NVDG - Sharpe Ratio Comparison

The current SCDL Sharpe Ratio is 2.37, which is higher than the NVDG Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of SCDL 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

	SCDL	NVDG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.37	1.24	+1.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.40	+0.14

Drawdowns

SCDL vs. NVDG - Drawdown Comparison

The maximum SCDL drawdown since its inception was -34.87%, smaller than the maximum NVDG drawdown of -66.19%. Use the drawdown chart below to compare losses from any high point for SCDL and NVDG.

Drawdown Indicators

	SCDL	NVDG	Difference
Max Drawdown Largest peak-to-trough decline	-34.87%	-66.19%	+31.32%
Max Drawdown (1Y) Largest decline over 1 year	-10.19%	-42.72%	+32.53%
Max Drawdown (3Y) Largest decline over 3 years	-32.79%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-34.87%	—	—
Current Drawdown Current decline from peak	-2.79%	-18.34%	+15.55%
Average Drawdown Average peak-to-trough decline	-11.96%	-23.07%	+11.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.04%	18.77%	-14.73%

Volatility

SCDL vs. NVDG - Volatility Comparison

The current volatility for ETRACS 2x Leveraged U.S. Dividend Factor TR ETN (SCDL) is 5.20%, while Leverage Shares 2X Long NVDA Daily ETF (NVDG) has a volatility of 25.14%. This indicates that SCDL experiences smaller price fluctuations and is considered to be less risky than NVDG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCDL	NVDG	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.20%	25.14%	-19.94%
Volatility (6M) Calculated over the trailing 6-month period	14.82%	50.15%	-35.33%
Volatility (1Y) Calculated over the trailing 1-year period	21.66%	67.81%	-46.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.02%	90.72%	-61.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.89%	90.72%	-61.83%

SCDL vs. NVDG - Expense Ratio Comparison

SCDL has a 0.95% expense ratio, which is higher than NVDG's 0.75% expense ratio.

Dividends

SCDL vs. NVDG - Dividend Comparison

SCDL has not paid dividends to shareholders, while NVDG's dividend yield for the trailing twelve months is around 9.93%.

Position	TTM	2025
NVDG Leverage Shares 2X Long NVDA Daily ETF	9.93%	11.81%
SCDL ETRACS 2x Leveraged U.S. Dividend Factor TR ETN	0.00%	0.00%

Frequently Asked Questions

Can I hold both SCDL and NVDG in my portfolio?

SCDL and NVDG have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCDL or NVDG?

NVDG has higher volatility (25.14%) compared to SCDL (5.20%). In terms of maximum drawdown, SCDL dropped -34.87% vs NVDG's -66.19%.

Which ETF is better, SCDL or NVDG?

On 1-year performance, NVDG leads with 83.14% vs 50.97% for SCDL. On fees, NVDG is cheaper at 0.75% per year. On volatility, SCDL has been the lower-risk option at 5.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCDL or NVDG?

Over the 1-year period, NVDG has performed better with a 83.14% return vs 50.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCDL or NVDG?

NVDG is cheaper with a 0.75% expense ratio, compared with 0.95% for SCDL.

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

NVDG has the higher dividend yield at 9.93%, compared with 0.00% for SCDL.

What is the main difference between SCDL and NVDG?

They also come from different issuers: UBS and Leverage Shares. Their fees differ too: 0.95% for SCDL and 0.75% for NVDG.

Which has better risk-adjusted returns?

SCDL currently has the higher Sharpe Ratio (2.37 vs 1.24), 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.