UCYB vs. NVDG

Last updated Jun 5, 2026

UCYB (ProShares Ultra Nasdaq Cybersecurity) and NVDG (Leverage Shares 2X Long NVDA Daily ETF) are both Leveraged Equities funds. UCYB is passively managed, while NVDG is actively managed. Over the past year, UCYB returned 37.94% vs 88.87% for NVDG. At a 0.41 correlation, their price movements are largely independent. UCYB charges 0.97%/yr vs 0.75%/yr for NVDG.

Performance

UCYB vs. NVDG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Nasdaq Cybersecurity (UCYB) 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, UCYB achieves a 51.10% return, which is significantly higher than NVDG's 23.86% return.

UCYB

• 1D: -1.99%
• 1M: 61.03%
• YTD: 51.10%
• 6M: 38.20%
• 1Y: 37.94%
• 3Y*: 43.47%
• 5Y*: 18.13%
• 10Y*: —

NVDG

• 1D: 4.14%
• 1M: 21.48%
• YTD: 23.86%
• 6M: 26.22%
• 1Y: 88.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UCYB vs. NVDG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
UCYB ProShares Ultra Nasdaq Cybersecurity	51.10%	9.41%	-4.59%
NVDG Leverage Shares 2X Long NVDA Daily ETF	23.86%	32.45%	-0.75%

Correlation

The correlation between UCYB and NVDG is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (All Time) Calculated using the full available price history since Dec 16, 2024	0.41

The correlation between UCYB and NVDG shifts across timeframes, from 0.27 (1 year) to 0.41 (all time), reflecting how their relationship changes across market environments.

Return for Risk

UCYB vs. NVDG — Risk / Return Rank

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

UCYB

UCYB Risk / Return Rank: 22
UCYB Sharpe Ratio Rank: 23
UCYB Sortino Ratio Rank: 25
UCYB Omega Ratio Rank: 25
UCYB Calmar Ratio Rank: 20
UCYB Martin Ratio Rank: 18

NVDG

NVDG Risk / Return Rank: 37
NVDG Sharpe Ratio Rank: 38
NVDG Sortino Ratio Rank: 38
NVDG Omega Ratio Rank: 36
NVDG Calmar Ratio Rank: 43
NVDG Martin Ratio Rank: 32

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.

UCYB vs. NVDG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Nasdaq Cybersecurity (UCYB) 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.

	UCYB	NVDG	Difference
Sharpe ratio: Return per unit of total volatility	0.77	1.32	-0.55
Sortino ratio: Return per unit of downside risk	1.32	1.94	-0.62
Omega ratio: Gain probability vs. loss probability	1.17	1.23	-0.06
Calmar ratio: Return relative to maximum drawdown	0.89	2.09	-1.21
Martin ratio: Return relative to average drawdown	1.97	4.75	-2.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UCYB vs. NVDG - Sharpe Ratio Comparison

The current UCYB Sharpe Ratio is 0.77, which is lower than the NVDG Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of UCYB 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

	UCYB	NVDG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.77	1.32	-0.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.44	-0.14

Drawdowns

UCYB vs. NVDG - Drawdown Comparison

The maximum UCYB drawdown since its inception was -62.69%, smaller than the maximum NVDG drawdown of -66.19%. Use the drawdown chart below to compare losses from any high point for UCYB and NVDG.

Drawdown Indicators

	UCYB	NVDG	Difference
Max Drawdown Largest peak-to-trough decline	-62.69%	-66.19%	+3.50%
Max Drawdown (1Y) Largest decline over 1 year	-43.04%	-42.72%	-0.32%
Max Drawdown (3Y) Largest decline over 3 years	-43.04%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-62.69%	—	—
Current Drawdown Current decline from peak	-8.02%	-14.96%	+6.94%
Average Drawdown Average peak-to-trough decline	-27.47%	-23.05%	-4.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.33%	18.79%	+0.54%

Volatility

UCYB vs. NVDG - Volatility Comparison

The current volatility for ProShares Ultra Nasdaq Cybersecurity (UCYB) is 22.45%, while Leverage Shares 2X Long NVDA Daily ETF (NVDG) has a volatility of 25.17%. This indicates that UCYB experiences smaller price fluctuations and is considered to be less risky than NVDG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UCYB	NVDG	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.45%	25.17%	-2.72%
Volatility (6M) Calculated over the trailing 6-month period	42.18%	50.28%	-8.10%
Volatility (1Y) Calculated over the trailing 1-year period	49.53%	67.73%	-18.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.95%	90.65%	-40.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.63%	90.65%	-41.02%

UCYB vs. NVDG - Expense Ratio Comparison

UCYB has a 0.97% expense ratio, which is higher than NVDG's 0.75% expense ratio.

Dividends

UCYB vs. NVDG - Dividend Comparison

UCYB's dividend yield for the trailing twelve months is around 1.43%, less than NVDG's 9.54% yield.

Position	TTM	2025	2024	2023	2022	2021
NVDG Leverage Shares 2X Long NVDA Daily ETF	9.54%	11.81%	0.00%	0.00%	0.00%	0.00%
UCYB ProShares Ultra Nasdaq Cybersecurity	1.43%	1.90%	2.16%	0.56%	0.00%	0.91%

Frequently Asked Questions

Can I hold both UCYB and NVDG in my portfolio?

UCYB and NVDG have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UCYB or NVDG?

NVDG has higher volatility (25.17%) compared to UCYB (22.45%). In terms of maximum drawdown, UCYB dropped -62.69% vs NVDG's -66.19%.

Which ETF is better, UCYB or NVDG?

On 1-year performance, NVDG leads with 88.87% vs 37.94% for UCYB. On fees, NVDG is cheaper at 0.75% per year. On volatility, UCYB has been the lower-risk option at 22.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UCYB or NVDG?

Over the 1-year period, NVDG has performed better with a 88.87% return vs 37.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UCYB or NVDG?

NVDG is cheaper with a 0.75% expense ratio, compared with 0.97% for UCYB.

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

NVDG has the higher dividend yield at 9.54%, compared with 1.43% for UCYB.

What is the main difference between UCYB and NVDG?

They also come from different issuers: ProShares and Leverage Shares. Their fees differ too: 0.97% for UCYB and 0.75% for NVDG.

Which has better risk-adjusted returns?

NVDG currently has the higher Sharpe Ratio (1.32 vs 0.77), 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.