SPOG vs. NVDL
SPOG (Leverage Shares 2X Long SPOT Daily ETF) and NVDL (GraniteShares 2x Long NVDA Daily ETF) are both Leveraged Equities funds. Both are actively managed. At a 0.06 correlation, their price movements are largely independent. SPOG charges 0.75%/yr vs 1.15%/yr for NVDL.
Performance
SPOG vs. NVDL - Performance Comparison
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Returns By Period
In the year-to-date period, SPOG achieves a -41.52% return, which is significantly lower than NVDL's 19.95% return.
SPOG
- 1D
- -5.23%
- 1M
- 19.81%
- YTD
- -41.52%
- 6M
- -37.75%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NVDL
- 1D
- -7.15%
- 1M
- 14.24%
- YTD
- 19.95%
- 6M
- 27.27%
- 1Y
- 84.82%
- 3Y*
- 109.72%
- 5Y*
- —
- 10Y*
- —
SPOG vs. NVDL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SPOG Leverage Shares 2X Long SPOT Daily ETF | -41.52% | -19.53% |
NVDL GraniteShares 2x Long NVDA Daily ETF | 19.95% | -2.58% |
Correlation
The correlation between SPOG and NVDL is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 18, 2025 | 0.06 |
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Return for Risk
SPOG vs. NVDL — Risk / Return Rank
SPOG
NVDL
SPOG vs. NVDL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long SPOT Daily ETF (SPOG) and GraniteShares 2x Long NVDA Daily ETF (NVDL). 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| SPOG | NVDL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 1.25 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.73 | 1.77 | -2.50 |
Drawdowns
SPOG vs. NVDL - Drawdown Comparison
The maximum SPOG drawdown since its inception was -64.41%, roughly equal to the maximum NVDL drawdown of -67.55%. Use the drawdown chart below to compare losses from any high point for SPOG and NVDL.
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Drawdown Indicators
| SPOG | NVDL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.41% | -67.55% | +3.14% |
Max Drawdown (1Y)Largest decline over 1 year | — | -42.23% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -67.55% | — |
Current DrawdownCurrent decline from peak | -52.94% | -18.19% | -34.75% |
Average DrawdownAverage peak-to-trough decline | -40.43% | -16.96% | -23.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 18.39% | — |
Volatility
SPOG vs. NVDL - Volatility Comparison
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Volatility by Period
| SPOG | NVDL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 24.77% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 50.80% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 103.84% | 68.20% | +35.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 103.84% | 90.43% | +13.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 103.84% | 90.43% | +13.41% |
SPOG vs. NVDL - Expense Ratio Comparison
SPOG has a 0.75% expense ratio, which is lower than NVDL's 1.15% expense ratio.
Dividends
SPOG vs. NVDL - Dividend Comparison
Neither SPOG nor NVDL has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
NVDL GraniteShares 2x Long NVDA Daily ETF | 0.00% | 0.00% | 0.00% | 11.29% |
SPOG Leverage Shares 2X Long SPOT Daily ETF | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SPOG and NVDL 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.
On fees, SPOG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPOG is cheaper with a 0.75% expense ratio, compared with 1.15% for NVDL.
SPOG and NVDL have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Leverage Shares and GraniteShares. Their fees differ too: 0.75% for SPOG and 1.15% for NVDL.
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