SSG vs. NVDY
SSG (Proshares Ultrashort Semiconductors) and NVDY (YieldMax NVDA Option Income Strategy ETF) are both exchange-traded funds - SSG is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (-200%), while NVDY is a Derivative Income fund actively managed by YieldMax. SSG is passively managed, while NVDY is actively managed. Over the past 3 years, SSG returned -74.84%/yr vs 54.54%/yr for NVDY. At a correlation of -0.88, they often move in opposite directions. SSG charges 0.95%/yr vs 0.99%/yr for NVDY.
Performance
SSG vs. NVDY - Performance Comparison
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Returns By Period
In the year-to-date period, SSG achieves a -60.94% return, which is significantly lower than NVDY's 13.06% return.
SSG
- 1D
- 1.36%
- 1M
- -33.91%
- YTD
- -60.94%
- 6M
- -61.42%
- 1Y
- -81.06%
- 3Y*
- -74.84%
- 5Y*
- -66.94%
- 10Y*
- -62.12%
NVDY
- 1D
- -2.22%
- 1M
- 5.54%
- YTD
- 13.06%
- 6M
- 17.67%
- 1Y
- 46.64%
- 3Y*
- 54.54%
- 5Y*
- —
- 10Y*
- —
SSG vs. NVDY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SSG Proshares Ultrashort Semiconductors | -60.94% | -70.03% | -77.59% | -61.92% |
NVDY YieldMax NVDA Option Income Strategy ETF | 13.06% | 27.38% | 114.23% | 42.02% |
Correlation
The correlation between SSG and NVDY is -0.87, 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 | -0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.88 |
Correlation (All Time) Calculated using the full available price history since May 12, 2023 | -0.88 |
The correlation between SSG and NVDY has been stable across timeframes, ranging from -0.88 to -0.87 - a consistent structural relationship.
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Return for Risk
SSG vs. NVDY — Risk / Return Rank
SSG
NVDY
SSG vs. NVDY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Proshares Ultrashort Semiconductors (SSG) 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.
| SSG | NVDY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.03 | ||
| Sortino ratioReturn per unit of downside risk | -5.40 | ||
| Omega ratioGain probability vs. loss probability | 0.67 | 1.29 | -0.62 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | 3.66 | -4.66 |
| Martin ratioReturn relative to average drawdown | -1.60 | 9.00 | -10.61 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SSG | NVDY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.32 | 1.72 | -3.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.87 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.90 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.79 | 1.64 | -2.42 |
Drawdowns
SSG vs. NVDY - Drawdown Comparison
The maximum SSG drawdown since its inception was -100.00%, which is greater than NVDY's maximum drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for SSG and NVDY.
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Drawdown Indicators
| SSG | NVDY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -34.08% | -65.92% |
Max Drawdown (1Y)Largest decline over 1 year | -81.36% | -12.81% | -68.55% |
Max Drawdown (3Y)Largest decline over 3 years | -98.49% | -34.08% | -64.41% |
Max Drawdown (5Y)Largest decline over 5 years | -99.64% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.99% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -6.66% | -93.34% |
Average DrawdownAverage peak-to-trough decline | -88.59% | -6.15% | -82.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 50.50% | 5.20% | +45.30% |
Volatility
SSG vs. NVDY - Volatility Comparison
Proshares Ultrashort Semiconductors (SSG) has a higher volatility of 21.44% compared to YieldMax NVDA Option Income Strategy ETF (NVDY) at 9.46%. This indicates that SSG'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.
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Volatility by Period
| SSG | NVDY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.44% | 9.46% | +11.98% |
Volatility (6M)Calculated over the trailing 6-month period | 47.41% | 20.68% | +26.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 61.80% | 27.35% | +34.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 77.33% | 38.24% | +39.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 68.97% | 38.24% | +30.73% |
SSG vs. NVDY - Expense Ratio Comparison
SSG has a 0.95% expense ratio, which is lower than NVDY's 0.99% expense ratio.
Dividends
SSG vs. NVDY - Dividend Comparison
SSG's dividend yield for the trailing twelve months is around 13.36%, less than NVDY's 61.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
NVDY YieldMax NVDA Option Income Strategy ETF | 61.36% | 83.10% | 83.65% | 22.32% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SSG Proshares Ultrashort Semiconductors | 13.36% | 9.19% | 7.67% | 6.73% | 0.75% | 0.00% | 0.34% | 1.81% | 0.62% |
Frequently Asked Questions
SSG and NVDY have a correlation of -0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SSG has higher volatility (21.44%) compared to NVDY (9.46%). In terms of maximum drawdown, SSG dropped -100.00% vs NVDY's -34.08%.
On 3-year performance, NVDY leads with 54.54% vs -74.84% for SSG. On fees, SSG is cheaper at 0.95% per year. On volatility, NVDY has been the lower-risk option at 9.46%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, NVDY has performed better with a 54.54% return vs -74.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SSG is cheaper with a 0.95% expense ratio, compared with 0.99% for NVDY.
NVDY has the higher dividend yield at 61.36%, compared with 13.36% for SSG.
SSG is categorized as Leveraged Equities, while NVDY is Derivative Income. They also come from different issuers: ProShares and YieldMax. Their fees differ too: 0.95% for SSG and 0.99% for NVDY.
NVDY currently has the higher Sharpe Ratio (1.72 vs -1.32), 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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