SMHB vs. NVDG
SMHB (ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN Series B) and NVDG (Leverage Shares 2X Long NVDA Daily ETF) are both Leveraged Equities funds. SMHB is passively managed, while NVDG is actively managed. Over the past year, SMHB returned 15.19% vs 18.71% for NVDG. Their 0.16 correlation means their historical movements had little consistent relationship. SMHB charges 0.85%/yr vs 0.75%/yr for NVDG.
Performance
SMHB vs. NVDG - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with SMHB having a 18.27% return and NVDG slightly higher at 18.95%.
SMHB
- 1D
- 0.73%
- 1M
- 0.79%
- 6M
- 2.86%
- YTD
- 18.27%
- 1Y
- 15.19%
- 3Y*
- 0.99%
- 5Y*
- -3.07%
- 10Y*
- —
- ALL TIME*
- -5.41%
NVDG
- 1D
- 7.27%
- 1M
- 23.11%
- 6M
- 38.73%
- YTD
- 18.95%
- 1Y
- 18.71%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 31.46%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.50M | $4.23M | $6.05M | |
| $64.27K | $88.97K | $90.19K |
SMHB vs. NVDG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SMHB ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN Series B | 18.27% | -7.75% | -7.80% |
NVDG Leverage Shares 2X Long NVDA Daily ETF | 18.95% | 32.45% | -0.52% |
Correlation
The correlation between SMHB and NVDG is 0.06, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.06 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2024 | 0.16 |
The correlation between SMHB and NVDG shifts across timeframes, from 0.06 (1 year) to 0.16 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SMHB vs. NVDG — Risk / Return Rank
SMHB
NVDG
SMHB vs. NVDG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN Series B (SMHB) 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.
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.
| SMHB | NVDG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.10 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.67 | 0.44 | +0.23 |
| Martin ratioReturn relative to average drawdown | 1.68 | 0.85 | +0.83 |
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Drawdowns
SMHB vs. NVDG - Drawdown Comparison
The maximum SMHB drawdown since its inception was -90.30%, which is greater than NVDG's maximum drawdown of -66.19%. Use the drawdown chart below to compare losses from any high point for SMHB and NVDG.
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Drawdown Indicators
| SMHB | NVDG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.30% | -66.19% | -24.11% |
Max Drawdown (1Y)Largest decline over 1 year | -25.16% | -42.72% | +17.56% |
Max Drawdown (3Y)Largest decline over 3 years | -45.05% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -58.11% | — | — |
Current DrawdownCurrent decline from peak | -34.90% | -18.32% | -16.58% |
Average DrawdownAverage peak-to-trough decline | -37.17% | -23.52% | -13.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.95% | 22.11% | -12.16% |
Volatility
SMHB vs. NVDG - Volatility Comparison
The current volatility for ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN Series B (SMHB) is 9.79%, while Leverage Shares 2X Long NVDA Daily ETF (NVDG) has a volatility of 26.09%. This indicates that SMHB 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.
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Volatility by Period
| SMHB | NVDG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.79% | 26.09% | -16.30% |
Volatility (6M)Calculated over the trailing 6-month period | 24.34% | 56.20% | -31.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.80% | 72.44% | -35.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 48.90% | 89.79% | -40.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 65.77% | 89.79% | -24.02% |
SMHB vs. NVDG - Expense Ratio Comparison
SMHB has a 0.85% expense ratio, which is higher than NVDG's 0.75% expense ratio.
Dividends
SMHB vs. NVDG - Dividend Comparison
SMHB's dividend yield for the trailing twelve months is around 19.17%, more than NVDG's 9.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
NVDG Leverage Shares 2X Long NVDA Daily ETF | 9.93% | 11.81% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SMHB ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN Series B | 19.17% | 22.22% | 21.95% | 15.27% | 24.18% | 12.22% | 16.86% | 19.97% | 0.91% |
Frequently Asked Questions
SMHB and NVDG have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NVDG has higher volatility (26.09%) compared to SMHB (9.79%). In terms of maximum drawdown, SMHB dropped -90.30% vs NVDG's -66.19%.
On 1-year performance, NVDG leads with 18.71% vs 15.19% for SMHB. On fees, NVDG is cheaper at 0.75% per year. On volatility, SMHB has been the lower-risk option at 9.79%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, NVDG has performed better with a 18.71% return vs 15.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NVDG is cheaper with a 0.75% expense ratio, compared with 0.85% for SMHB.
SMHB has the higher dividend yield at 19.17%, compared with 9.93% for NVDG.
They also come from different issuers: UBS and Leverage Shares. Their fees differ too: 0.85% for SMHB and 0.75% for NVDG.
SMHB currently has the higher Sharpe Ratio (0.46 vs 0.26), 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.
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