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 57.93% vs -51.56% 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 39.49% return, which is significantly higher than NVD's -30.35% return.
ULCC
- 1D
- -5.33%
- 1M
- 5.12%
- 6M
- 24.20%
- YTD
- 39.49%
- 1Y
- 57.93%
- 3Y*
- -12.27%
- 5Y*
- -15.38%
- 10Y*
- —
NVD
- 1D
- 7.10%
- 1M
- -0.80%
- 6M
- -31.59%
- YTD
- -30.35%
- 1Y
- -51.56%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ULCC vs. NVD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ULCC Frontier Group Holdings, Inc. | 39.49% | -33.76% | 30.22% | -20.06% |
NVD GraniteShares 2x Short NVDA Daily ETF | -30.35% | -73.27% | -93.09% | -15.28% |
Correlation
The correlation between ULCC and NVD is -0.04, 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 | -0.04 |
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 -0.04 (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 | +1.41 | ||
| Sortino ratioReturn per unit of downside risk | +2.43 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 0.90 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 1.11 | -0.83 | +1.94 |
| Martin ratioReturn relative to average drawdown | 2.38 | -1.50 | +3.88 |
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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% | -61.97% | +9.52% |
Max Drawdown (3Y)Largest decline over 3 years | -72.16% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -83.72% | — | — |
Current DrawdownCurrent decline from peak | -70.01% | -99.06% | +29.05% |
Average DrawdownAverage peak-to-trough decline | -60.44% | -82.16% | +21.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.38% | 34.47% | -10.09% |
Volatility
ULCC vs. NVD - Volatility Comparison
Frontier Group Holdings, Inc. (ULCC) has a higher volatility of 24.32% compared to GraniteShares 2x Short NVDA Daily ETF (NVD) at 22.19%. This indicates that ULCC'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.
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Volatility by Period
| ULCC | NVD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.32% | 22.19% | +2.13% |
Volatility (6M)Calculated over the trailing 6-month period | 60.85% | 55.59% | +5.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 84.79% | 71.84% | +12.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 70.64% | 92.23% | -21.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 69.32% | 92.23% | -22.91% |
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 16.98%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
NVD GraniteShares 2x Short NVDA Daily ETF | 16.98% | 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 -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ULCC has higher volatility (24.32%) compared to NVD (22.19%). In terms of maximum drawdown, ULCC dropped -87.04% vs NVD's -99.26%.
ULCC currently has the higher Sharpe Ratio (0.69 vs -0.72), 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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