TSLR vs. NVD

Last updated Jun 26, 2026

TSLR (GraniteShares 2x Long TSLA Daily ETF) and NVD (GraniteShares 2x Short NVDA Daily ETF) are both exchange-traded funds - TSLR is a Leveraged Equities fund actively managed by GraniteShares, while NVD is a Inverse Equities fund actively managed by GraniteShares. Both are actively managed. Over the past year, TSLR returned -2.93% vs -53.87% for NVD. At a correlation of -0.35, they often move in opposite directions. Both charge a 1.50% expense ratio.

Performance

TSLR vs. NVD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long TSLA Daily ETF (TSLR) and GraniteShares 2x Short NVDA Daily ETF (NVD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSLR achieves a -38.91% return, which is significantly lower than NVD's -23.92% return.

TSLR

• 1D: -0.10%
• 1M: -27.39%
• YTD: -38.91%
• 6M: -47.71%
• 1Y: -2.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NVD

• 1D: 3.23%
• 1M: 15.01%
• YTD: -23.92%
• 6M: -22.14%
• 1Y: -53.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TSLR vs. NVD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TSLR GraniteShares 2x Long TSLA Daily ETF	-38.91%	-25.97%	67.57%	1.69%
NVD GraniteShares 2x Short NVDA Daily ETF	-23.92%	-73.27%	-93.09%	-15.28%

Correlation

The correlation between TSLR and NVD is -0.41, 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	-0.41
Correlation (All Time) Calculated using the full available price history since Aug 22, 2023	-0.35

TSLR vs. NVD - Sectors Allocation Comparison

Sectors	TSLR	NVD
Consumer Cyclical	66.6%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	199.7%
Utilities	-	-

Return for Risk

TSLR vs. NVD — Risk / Return Rank

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

TSLR

TSLR Risk / Return Rank: 10
TSLR Sharpe Ratio Rank: 9
TSLR Sortino Ratio Rank: 13
TSLR Omega Ratio Rank: 12
TSLR Calmar Ratio Rank: 9
TSLR Martin Ratio Rank: 9

NVD

NVD Risk / Return Rank: 3
NVD Sharpe Ratio Rank: 3
NVD Sortino Ratio Rank: 4
NVD Omega Ratio Rank: 4
NVD Calmar Ratio Rank: 2
NVD Martin Ratio Rank: 3

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.

TSLR vs. NVD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long TSLA Daily ETF (TSLR) and GraniteShares 2x Short NVDA Daily ETF (NVD). 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.

	TSLR	NVD	Difference
Sharpe ratio: Return per unit of total volatility	-0.03	-0.76	+0.73
Sortino ratio: Return per unit of downside risk	0.58	-1.02	+1.60
Omega ratio: Gain probability vs. loss probability	1.07	0.89	+0.18
Calmar ratio: Return relative to maximum drawdown	-0.05	-0.81	+0.75
Martin ratio: Return relative to average drawdown	-0.11	-1.33	+1.22

TSLR vs. NVD - Sharpe Ratio Comparison

The current TSLR Sharpe Ratio is -0.03, which is higher than the NVD Sharpe Ratio of -0.76. The chart below compares the historical Sharpe Ratios of TSLR and NVD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TSLR vs. NVD - Drawdown Comparison

The maximum TSLR drawdown since its inception was -82.80%, smaller than the maximum NVD drawdown of -99.26%. Use the drawdown chart below to compare losses from any high point for TSLR and NVD.

Drawdown Indicators

	TSLR	NVD	Difference
Max Drawdown Largest peak-to-trough decline	-82.80%	-99.26%	+16.46%
Max Drawdown (1Y) Largest decline over 1 year	-54.37%	-66.81%	+12.44%
Current Drawdown Current decline from peak	-68.74%	-98.98%	+30.24%
Average Drawdown Average peak-to-trough decline	-50.47%	-81.90%	+31.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.96%	40.42%	-13.46%

Volatility

TSLR vs. NVD - Volatility Comparison

GraniteShares 2x Long TSLA Daily ETF (TSLR) has a higher volatility of 28.32% compared to GraniteShares 2x Short NVDA Daily ETF (NVD) at 26.63%. This indicates that TSLR's price experiences larger fluctuations and is considered to be riskier than NVD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSLR	NVD	Difference
Volatility (1M) Calculated over the trailing 1-month period	28.32%	26.63%	+1.69%
Volatility (6M) Calculated over the trailing 6-month period	56.96%	54.05%	+2.91%
Volatility (1Y) Calculated over the trailing 1-year period	87.92%	71.16%	+16.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	115.26%	92.48%	+22.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	115.26%	92.48%	+22.78%

TSLR vs. NVD - Expense Ratio Comparison

Both TSLR and NVD have an expense ratio of 1.50%.

Dividends

TSLR vs. NVD - Dividend Comparison

TSLR has not paid dividends to shareholders, while NVD's dividend yield for the trailing twelve months is around 15.54%.

Position	TTM	2025	2024	2023
NVD GraniteShares 2x Short NVDA Daily ETF	15.54%	11.83%	8.68%	15.78%
TSLR GraniteShares 2x Long TSLA Daily ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TSLR and NVD in my portfolio?

TSLR and NVD have a correlation of -0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSLR or NVD?

TSLR has higher volatility (28.32%) compared to NVD (26.63%). In terms of maximum drawdown, TSLR dropped -82.80% vs NVD's -99.26%.

Which ETF is better, TSLR or NVD?

On 1-year performance, TSLR leads with -2.93% vs -53.87% for NVD. Both ETFs have the same 1.50% expense ratio. On volatility, NVD has been the lower-risk option at 26.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLR or NVD?

Over the 1-year period, TSLR has performed better with a -2.93% return vs -53.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLR or NVD?

TSLR and NVD have the same expense ratio: 1.50% per year.

Which ETF pays a higher dividend yield, TSLR or NVD?

NVD has the higher dividend yield at 15.54%, compared with 0.00% for TSLR.

What is the main difference between TSLR and NVD?

TSLR is categorized as Leveraged Equities, while NVD is Inverse Equities.

Which has better risk-adjusted returns?

TSLR currently has the higher Sharpe Ratio (-0.03 vs -0.76), 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.