ULCC vs. NVD
ULCC (Frontier Group Holdings, Inc.) is a stock, while NVD (GraniteShares 2x Short NVDA Daily ETF) is Inverse Equities fund actively managed by GraniteShares. Over the past year, ULCC returned 106.85% vs -61.62% for NVD. At a correlation of -0.16, they often move in opposite directions.
Performance
ULCC vs. NVD - Performance Comparison
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Returns By Period
In the year-to-date period, ULCC achieves a 53.93% return, which is significantly higher than NVD's -26.99% return.
ULCC
- 1D
- 1.54%
- 1M
- 46.46%
- YTD
- 53.93%
- 6M
- 49.79%
- 1Y
- 106.85%
- 3Y*
- -7.33%
- 5Y*
- -16.31%
- 10Y*
- —
NVD
- 1D
- 8.30%
- 1M
- 10.83%
- YTD
- -26.99%
- 6M
- -24.81%
- 1Y
- -61.62%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ULCC vs. NVD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ULCC Frontier Group Holdings, Inc. | 53.93% | -33.76% | 30.22% | -20.06% |
NVD GraniteShares 2x Short NVDA Daily ETF | -26.99% | -73.27% | -93.09% | -15.28% |
Correlation
The correlation between ULCC and NVD is -0.06, 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 (1Y) Calculated over the trailing 1-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since Aug 22, 2023 | -0.16 |
The correlation between ULCC and NVD shifts across timeframes, from -0.16 (all time) to -0.06 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ULCC vs. NVD — Risk / Return Rank
ULCC
NVD
ULCC vs. NVD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Frontier Group Holdings, Inc. (ULCC) 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.
| ULCC | NVD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.15 | ||
| Sortino ratioReturn per unit of downside risk | +3.44 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 0.85 | +0.39 |
| Calmar ratioReturn relative to maximum drawdown | 2.05 | -0.89 | +2.94 |
| Martin ratioReturn relative to average drawdown | 4.41 | -1.39 | +5.79 |
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Drawdowns
ULCC vs. NVD - Drawdown Comparison
The maximum ULCC drawdown since its inception was -87.04%, smaller than the maximum NVD drawdown of -99.26%. Use the drawdown chart below to compare losses from any high point for ULCC and NVD.
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Drawdown Indicators
| ULCC | NVD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.04% | -99.26% | +12.22% |
Max Drawdown (1Y)Largest decline over 1 year | -52.45% | -69.44% | +16.99% |
Max Drawdown (3Y)Largest decline over 3 years | -72.90% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -84.04% | — | — |
Current DrawdownCurrent decline from peak | -66.91% | -99.02% | +32.11% |
Average DrawdownAverage peak-to-trough decline | -60.38% | -81.86% | +21.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.33% | 47.02% | -22.69% |
Volatility
ULCC vs. NVD - Volatility Comparison
The current volatility for Frontier Group Holdings, Inc. (ULCC) is 23.29%, while GraniteShares 2x Short NVDA Daily ETF (NVD) has a volatility of 26.72%. This indicates that ULCC experiences smaller price fluctuations and is considered to be less risky than NVD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ULCC | NVD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.29% | 26.72% | -3.43% |
Volatility (6M)Calculated over the trailing 6-month period | 58.36% | 54.57% | +3.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 83.94% | 71.22% | +12.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 70.20% | 92.58% | -22.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 69.14% | 92.58% | -23.44% |
Dividends
ULCC vs. NVD - Dividend Comparison
ULCC has not paid dividends to shareholders, while NVD's dividend yield for the trailing twelve months is around 16.20%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
NVD GraniteShares 2x Short NVDA Daily ETF | 16.20% | 11.83% | 8.68% | 15.78% |
ULCC Frontier Group Holdings, Inc. | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ULCC and NVD have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NVD has higher volatility (26.72%) compared to ULCC (23.29%). In terms of maximum drawdown, ULCC dropped -87.04% vs NVD's -99.26%.
ULCC currently has the higher Sharpe Ratio (1.28 vs -0.87), 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.
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