TSLL vs. NVDG

Last updated Jun 4, 2026

TSLL (Direxion Daily TSLA Bull 2X ETF) and NVDG (Leverage Shares 2X Long NVDA Daily ETF) are both Leveraged Equities funds. Both are actively managed. Over the past year, TSLL returned 7.17% vs 83.14% for NVDG. At a 0.42 correlation, their price movements are largely independent. TSLL charges 0.83%/yr vs 0.75%/yr for NVDG.

Performance

TSLL vs. NVDG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily TSLA Bull 2X ETF (TSLL) 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, TSLL achieves a -20.85% return, which is significantly lower than NVDG's 18.93% return.

TSLL

• 1D: 0.00%
• 1M: 13.88%
• YTD: -20.85%
• 6M: -21.38%
• 1Y: 7.17%
• 3Y*: 9.79%
• 5Y*: —
• 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)

TSLL vs. NVDG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TSLL Direxion Daily TSLA Bull 2X ETF	-20.85%	-26.80%	-16.90%
NVDG Leverage Shares 2X Long NVDA Daily ETF	18.93%	32.45%	-0.75%

Correlation

The correlation between TSLL and NVDG is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (All Time) Calculated using the full available price history since Dec 16, 2024	0.42

Return for Risk

TSLL vs. NVDG — Risk / Return Rank

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

TSLL

TSLL Risk / Return Rank: 12
TSLL Sharpe Ratio Rank: 9
TSLL Sortino Ratio Rank: 15
TSLL Omega Ratio Rank: 15
TSLL Calmar Ratio Rank: 10
TSLL Martin Ratio Rank: 10

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.

TSLL vs. NVDG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily TSLA Bull 2X ETF (TSLL) 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.

	TSLL	NVDG	Difference
Sharpe ratio: Return per unit of total volatility	0.08	1.24	-1.16
Sortino ratio: Return per unit of downside risk	0.77	1.87	-1.09
Omega ratio: Gain probability vs. loss probability	1.09	1.22	-0.13
Calmar ratio: Return relative to maximum drawdown	0.13	1.96	-1.83
Martin ratio: Return relative to average drawdown	0.27	4.44	-4.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TSLL vs. NVDG - Sharpe Ratio Comparison

The current TSLL Sharpe Ratio is 0.08, which is lower than the NVDG Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of TSLL 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

	TSLL	NVDG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.08	1.24	-1.16
Sharpe Ratio (All Time) Calculated using the full available price history	-0.08	0.40	-0.47

Drawdowns

TSLL vs. NVDG - Drawdown Comparison

The maximum TSLL drawdown since its inception was -82.88%, which is greater than NVDG's maximum drawdown of -66.19%. Use the drawdown chart below to compare losses from any high point for TSLL and NVDG.

Drawdown Indicators

	TSLL	NVDG	Difference
Max Drawdown Largest peak-to-trough decline	-82.88%	-66.19%	-16.69%
Max Drawdown (1Y) Largest decline over 1 year	-54.75%	-42.72%	-12.03%
Max Drawdown (3Y) Largest decline over 3 years	-82.88%	—	—
Current Drawdown Current decline from peak	-60.03%	-18.34%	-41.69%
Average Drawdown Average peak-to-trough decline	-53.82%	-23.07%	-30.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.72%	18.77%	+7.95%

Volatility

TSLL vs. NVDG - Volatility Comparison

Direxion Daily TSLA Bull 2X ETF (TSLL) and Leverage Shares 2X Long NVDA Daily ETF (NVDG) have volatilities of 24.26% and 25.14%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSLL	NVDG	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.26%	25.14%	-0.88%
Volatility (6M) Calculated over the trailing 6-month period	54.47%	50.15%	+4.32%
Volatility (1Y) Calculated over the trailing 1-year period	92.38%	67.81%	+24.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	106.87%	90.72%	+16.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	106.87%	90.72%	+16.15%

TSLL vs. NVDG - Expense Ratio Comparison

TSLL has a 0.83% expense ratio, which is higher than NVDG's 0.75% expense ratio.

Dividends

TSLL vs. NVDG - Dividend Comparison

TSLL's dividend yield for the trailing twelve months is around 6.46%, less than NVDG's 9.93% yield.

Position	TTM	2025	2024	2023	2022
NVDG Leverage Shares 2X Long NVDA Daily ETF	9.93%	11.81%	0.00%	0.00%	0.00%
TSLL Direxion Daily TSLA Bull 2X ETF	6.46%	5.00%	2.47%	4.44%	1.57%

Frequently Asked Questions

Can I hold both TSLL and NVDG in my portfolio?

TSLL and NVDG have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSLL or NVDG?

NVDG has higher volatility (25.14%) compared to TSLL (24.26%). In terms of maximum drawdown, TSLL dropped -82.88% vs NVDG's -66.19%.

Which ETF is better, TSLL or NVDG?

On 1-year performance, NVDG leads with 83.14% vs 7.17% for TSLL. On fees, NVDG is cheaper at 0.75% per year. On volatility, TSLL has been the lower-risk option at 24.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLL or NVDG?

Over the 1-year period, NVDG has performed better with a 83.14% return vs 7.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLL or NVDG?

NVDG is cheaper with a 0.75% expense ratio, compared with 0.83% for TSLL.

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

NVDG has the higher dividend yield at 9.93%, compared with 6.46% for TSLL.

What is the main difference between TSLL and NVDG?

They also come from different issuers: Direxion and Leverage Shares. Their fees differ too: 0.83% for TSLL and 0.75% for NVDG.

Which has better risk-adjusted returns?

NVDG currently has the higher Sharpe Ratio (1.24 vs 0.08), 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.