TBXU vs. NVDU

Last updated Jul 12, 2026

TBXU (Direxion Daily Biotech Top 5 Bull 2X ETF) and NVDU (Direxion Daily NVDA Bull 2X Shares ETF) are both Leveraged Equities funds from Direxion. Both are actively managed. At a 0.04 correlation, their price movements are largely independent. TBXU charges 0.98%/yr vs 1.04%/yr for NVDU.

Performance

TBXU vs. NVDU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Biotech Top 5 Bull 2X ETF (TBXU) and Direxion Daily NVDA Bull 2X Shares ETF (NVDU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TBXU achieves a 4.27% return, which is significantly lower than NVDU's 12.92% return.

TBXU

• 1D: -4.09%
• 1M: 7.73%
• 6M: 5.69%
• YTD: 4.27%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

NVDU

• 1D: 8.05%
• 1M: 4.46%
• 6M: 15.30%
• YTD: 12.92%
• 1Y: 29.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TBXU vs. NVDU - Yearly Performance Comparison

	2026 (YTD)	2025
TBXU Direxion Daily Biotech Top 5 Bull 2X ETF	4.27%	17.10%
NVDU Direxion Daily NVDA Bull 2X Shares ETF	12.92%	-6.27%

Correlation

The correlation between TBXU and NVDU is 0.04, 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 Oct 1, 2025	0.04

Return for Risk

TBXU vs. NVDU — Risk / Return Rank

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

TBXU

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

NVDU

NVDU Risk / Return Rank: 20
NVDU Sharpe Ratio Rank: 18
NVDU Sortino Ratio Rank: 23
NVDU Omega Ratio Rank: 22
NVDU Calmar Ratio Rank: 20
NVDU Martin Ratio Rank: 18

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.

TBXU vs. NVDU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Biotech Top 5 Bull 2X ETF (TBXU) and Direxion Daily NVDA Bull 2X Shares ETF (NVDU). 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.

	TBXU	NVDU	Difference
Sharpe ratio: Return per unit of total volatility	—	0.44	—
Sortino ratio: Return per unit of downside risk	—	1.08	—
Omega ratio: Gain probability vs. loss probability	—	1.13	—
Calmar ratio: Return relative to maximum drawdown	—	0.73	—
Martin ratio: Return relative to average drawdown	—	1.51	—

Drawdowns

TBXU vs. NVDU - Drawdown Comparison

The maximum TBXU drawdown since its inception was -26.53%, smaller than the maximum NVDU drawdown of -67.27%. Use the drawdown chart below to compare losses from any high point for TBXU and NVDU.

Drawdown Indicators

	TBXU	NVDU	Difference
Max Drawdown Largest peak-to-trough decline	-26.53%	-67.27%	+40.74%
Max Drawdown (1Y) Largest decline over 1 year	—	-42.27%	—
Current Drawdown Current decline from peak	-12.54%	-23.09%	+10.55%
Average Drawdown Average peak-to-trough decline	-9.53%	-19.12%	+9.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	20.49%	—

Volatility

Volatility by Period

	TBXU	NVDU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	21.93%	—
Volatility (6M) Calculated over the trailing 6-month period	—	53.87%	—
Volatility (1Y) Calculated over the trailing 1-year period	42.42%	70.52%	-28.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.42%	90.63%	-48.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.42%	90.63%	-48.21%

TBXU vs. NVDU - Expense Ratio Comparison

TBXU has a 0.98% expense ratio, which is lower than NVDU's 1.04% expense ratio.

Dividends

TBXU vs. NVDU - Dividend Comparison

TBXU's dividend yield for the trailing twelve months is around 1.94%, less than NVDU's 5.23% yield.

Position	TTM	2025	2024	2023
NVDU Direxion Daily NVDA Bull 2X Shares ETF	5.23%	5.68%	16.85%	0.63%
TBXU Direxion Daily Biotech Top 5 Bull 2X ETF	1.94%	1.33%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TBXU and NVDU in my portfolio?

TBXU and NVDU have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TBXU or NVDU?

On fees, TBXU is cheaper at 0.98% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TBXU or NVDU?

TBXU is cheaper with a 0.98% expense ratio, compared with 1.04% for NVDU.

Which ETF pays a higher dividend yield, TBXU or NVDU?

NVDU has the higher dividend yield at 5.23%, compared with 1.94% for TBXU.

What is the main difference between TBXU and NVDU?

Their fees differ too: 0.98% for TBXU and 1.04% for NVDU.