UGE vs. NVDG

Last updated Aug 5, 2026

UGE (ProShares Ultra Consumer Goods) and NVDG (Leverage Shares 2X Long NVDA Daily ETF) are both Leveraged Equities funds. UGE is passively managed, while NVDG is actively managed. Over the past year, UGE returned 9.97% vs 8.42% for NVDG. Their -0.25 correlation means they have often moved in opposite directions in the past. UGE charges 0.95%/yr vs 0.75%/yr for NVDG.

Performance

UGE vs. NVDG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Consumer Goods (UGE) 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, UGE achieves a 17.97% return, which is significantly higher than NVDG's 10.88% return.

UGE

• 1D: 1.09%
• 1M: 0.41%
• 6M: -2.98%
• YTD: 17.97%
• 1Y: 9.97%
• 3Y*: 6.30%
• 5Y*: -2.42%
• 10Y*: 8.02%
• ALL TIME*: 11.27%

NVDG

• 1D: 5.28%
• 1M: 16.34%
• 6M: 20.84%
• YTD: 10.88%
• 1Y: 8.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 26.01%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
NVDG Leverage Shares 2X Long NVDA Daily ETF	$3.07M	$3.99M	$6.16M
UGE ProShares Ultra Consumer Goods	$1.04M	$851.07K	$1.08M

UGE vs. NVDG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
UGE ProShares Ultra Consumer Goods	17.97%	-5.21%	-7.88%
NVDG Leverage Shares 2X Long NVDA Daily ETF	10.88%	32.45%	-0.52%

Correlation

The correlation between UGE and NVDG is -0.34, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.34
Correlation (All Time) Calculated using the full available price history since Dec 13, 2024	-0.25

Return for Risk

UGE vs. NVDG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

UGE

UGE Risk / Return Rank: 18
UGE Sharpe Ratio Rank: 17
UGE Sortino Ratio Rank: 18
UGE Omega Ratio Rank: 18
UGE Calmar Ratio Rank: 19
UGE Martin Ratio Rank: 16

NVDG

NVDG Risk / Return Rank: 15
NVDG Sharpe Ratio Rank: 12
NVDG Sortino Ratio Rank: 18
NVDG Omega Ratio Rank: 17
NVDG Calmar Ratio Rank: 13
NVDG Martin Ratio Rank: 13

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

UGE vs. NVDG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Consumer Goods (UGE) 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.

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.

	UGE	NVDG	Difference
Sharpe ratio: Return per unit of total volatility	0.35	0.12	+0.24
Sortino ratio: Return per unit of downside risk	0.71	0.68	+0.02
Omega ratio: Gain probability vs. loss probability	1.08	1.08	0.00
Calmar ratio: Return relative to maximum drawdown	0.53	0.20	+0.33
Martin ratio: Return relative to average drawdown	0.86	0.38	+0.48

UGE vs. NVDG - Sharpe Ratio Comparison

The current UGE Sharpe Ratio is 0.35, which is higher than the NVDG Sharpe Ratio of 0.12. The chart below compares the historical Sharpe Ratios of UGE 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.

Drawdowns

UGE vs. NVDG - Drawdown Comparison

The maximum UGE drawdown since its inception was -71.36%, which is greater than NVDG's maximum drawdown of -66.19%. Use the drawdown chart below to compare losses from any high point for UGE and NVDG.

Drawdown Indicators

	UGE	NVDG	Difference
Max Drawdown Largest peak-to-trough decline	-71.36%	-66.19%	-5.17%
Max Drawdown (1Y) Largest decline over 1 year	-18.95%	-42.72%	+23.77%
Max Drawdown (3Y) Largest decline over 3 years	-22.81%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-56.55%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-57.14%	—	—
Current Drawdown Current decline from peak	-33.35%	-23.86%	-9.49%
Average Drawdown Average peak-to-trough decline	-18.86%	-23.53%	+4.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.59%	22.08%	-10.49%

Volatility

UGE vs. NVDG - Volatility Comparison

The current volatility for ProShares Ultra Consumer Goods (UGE) is 11.70%, while Leverage Shares 2X Long NVDA Daily ETF (NVDG) has a volatility of 25.30%. This indicates that UGE 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

	UGE	NVDG	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.70%	25.30%	-13.60%
Volatility (6M) Calculated over the trailing 6-month period	23.05%	56.10%	-33.05%
Volatility (1Y) Calculated over the trailing 1-year period	28.29%	72.44%	-44.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.87%	89.73%	-57.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.26%	89.73%	-56.47%

UGE vs. NVDG - Expense Ratio Comparison

UGE has a 0.95% expense ratio, which is higher than NVDG's 0.75% expense ratio.

Dividends

UGE vs. NVDG - Dividend Comparison

UGE's dividend yield for the trailing twelve months is around 2.07%, less than NVDG's 10.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NVDG Leverage Shares 2X Long NVDA Daily ETF	10.65%	11.81%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UGE ProShares Ultra Consumer Goods	2.07%	2.54%	1.43%	1.20%	0.74%	0.20%	0.41%	0.86%	0.76%	0.68%	0.76%	0.60%

Frequently Asked Questions

Can I hold both UGE and NVDG in my portfolio?

UGE 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, UGE or NVDG?

NVDG has higher volatility (25.30%) compared to UGE (11.70%). In terms of maximum drawdown, UGE dropped -71.36% vs NVDG's -66.19%.

Which ETF is better, UGE or NVDG?

On 1-year performance, UGE leads with 9.97% vs 8.42% for NVDG. On fees, NVDG is cheaper at 0.75% per year. On volatility, UGE has been the lower-risk option at 11.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UGE or NVDG?

Over the 1-year period, UGE has performed better with a 9.97% return vs 8.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UGE or NVDG?

NVDG is cheaper with a 0.75% expense ratio, compared with 0.95% for UGE.

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

NVDG has the higher dividend yield at 10.65%, compared with 2.07% for UGE.

What is the main difference between UGE and NVDG?

They also come from different issuers: ProShares and Leverage Shares. Their fees differ too: 0.95% for UGE and 0.75% for NVDG.

Which has better risk-adjusted returns?

UGE currently has the higher Sharpe Ratio (0.35 vs 0.12), 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.