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 70.03% vs -45.67% for NVD. Their -0.15 correlation means they have often moved in opposite directions in the past.
Performance
ULCC vs. NVD - Performance Comparison
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Returns By Period
In the year-to-date period, ULCC achieves a 43.31% return, which is significantly higher than NVD's -30.21% return.
ULCC
- 1D
- -3.30%
- 1M
- -10.95%
- 6M
- 45.47%
- YTD
- 43.31%
- 1Y
- 70.03%
- 3Y*
- -9.01%
- 5Y*
- -14.46%
- 10Y*
- —
- ALL TIME*
- -17.32%
NVD
- 1D
- -5.85%
- 1M
- -9.27%
- 6M
- -25.85%
- YTD
- -30.21%
- 1Y
- -45.67%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -78.48%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $448.34M | $392.73M | $345.88M | |
| $27.68M | $28.23M | $28.77M |
ULCC vs. NVD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ULCC Frontier Group Holdings, Inc. | 43.31% | -33.76% | 30.22% | -20.06% |
NVD GraniteShares 2x Short NVDA Daily ETF | -30.21% | -73.27% | -93.09% | -15.28% |
Correlation
The correlation between ULCC and NVD is -0.03, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.03 |
Correlation (All Time) Calculated using the full available price history since Aug 22, 2023 | -0.15 |
The correlation between ULCC and NVD shifts across timeframes, from -0.15 (all time) to -0.03 (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 | +1.23 | ||
| Sortino ratioReturn per unit of downside risk | +2.05 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 0.94 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.04 | -0.72 | +1.76 |
| Martin ratioReturn relative to average drawdown | 2.19 | -1.30 | +3.49 |
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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% | -59.80% | +7.35% |
Max Drawdown (3Y)Largest decline over 3 years | -70.38% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -83.72% | — | — |
Current DrawdownCurrent decline from peak | -69.19% | -99.06% | +29.87% |
Average DrawdownAverage peak-to-trough decline | -60.55% | -82.49% | +21.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.86% | 33.25% | -8.39% |
Volatility
ULCC vs. NVD - Volatility Comparison
The current volatility for Frontier Group Holdings, Inc. (ULCC) is 22.57%, while GraniteShares 2x Short NVDA Daily ETF (NVD) has a volatility of 24.19%. 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 | 22.57% | 24.19% | -1.62% |
Volatility (6M)Calculated over the trailing 6-month period | 60.55% | 57.44% | +3.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 85.41% | 73.16% | +12.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 70.72% | 92.05% | -21.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 69.29% | 92.05% | -22.76% |
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 16.95%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
NVD GraniteShares 2x Short NVDA Daily ETF | 16.95% | 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 -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NVD has higher volatility (24.19%) compared to ULCC (22.57%). In terms of maximum drawdown, ULCC dropped -87.04% vs NVD's -99.26%.
ULCC currently has the higher Sharpe Ratio (0.64 vs -0.59), 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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