USAX vs. NVDG

Last updated Jun 6, 2026

USAX (Tradr 2X Long USAR Daily ETF) and NVDG (Leverage Shares 2X Long NVDA Daily ETF) are both Leveraged Equities funds. USAX is passively managed, while NVDG is actively managed. At a 0.28 correlation, their price movements are largely independent. USAX charges 1.49%/yr vs 0.75%/yr for NVDG.

Performance

USAX vs. NVDG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Long USAR Daily ETF (USAX) and Leverage Shares 2X Long NVDA Daily ETF (NVDG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

USAX

• 1D: -35.36%
• 1M: -46.82%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

NVDG

• 1D: -12.31%
• 1M: -4.74%
• YTD: 8.61%
• 6M: 11.95%
• 1Y: 70.59%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

USAX vs. NVDG - Yearly Performance Comparison

	2026 (YTD)
USAX Tradr 2X Long USAR Daily ETF	-0.64%
NVDG Leverage Shares 2X Long NVDA Daily ETF	10.11%

Correlation

The correlation between USAX and NVDG is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 14, 2026	0.28

Return for Risk

USAX vs. NVDG — Risk / Return Rank

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

NVDG

NVDG Risk / Return Rank: 31
NVDG Sharpe Ratio Rank: 30
NVDG Sortino Ratio Rank: 33
NVDG Omega Ratio Rank: 31
NVDG Calmar Ratio Rank: 35
NVDG Martin Ratio Rank: 28

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.

USAX vs. NVDG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Long USAR Daily ETF (USAX) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	USAX	NVDG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.03	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.01	0.30	-0.31

Drawdowns

USAX vs. NVDG - Drawdown Comparison

The maximum USAX drawdown since its inception was -77.92%, which is greater than NVDG's maximum drawdown of -66.19%. Use the drawdown chart below to compare losses from any high point for USAX and NVDG.

Drawdown Indicators

	USAX	NVDG	Difference
Max Drawdown Largest peak-to-trough decline	-77.92%	-66.19%	-11.73%
Max Drawdown (1Y) Largest decline over 1 year	—	-42.72%	—
Current Drawdown Current decline from peak	-58.50%	-25.43%	-33.07%
Average Drawdown Average peak-to-trough decline	-45.87%	-23.05%	-22.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	18.86%	—

Volatility

Volatility by Period

	USAX	NVDG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	26.49%	—
Volatility (6M) Calculated over the trailing 6-month period	—	51.99%	—
Volatility (1Y) Calculated over the trailing 1-year period	229.17%	68.90%	+160.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	229.17%	91.12%	+138.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	229.17%	91.12%	+138.05%

USAX vs. NVDG - Expense Ratio Comparison

USAX has a 1.49% expense ratio, which is higher than NVDG's 0.75% expense ratio.

Dividends

USAX vs. NVDG - Dividend Comparison

USAX has not paid dividends to shareholders, while NVDG's dividend yield for the trailing twelve months is around 10.88%.

Position	TTM	2025
NVDG Leverage Shares 2X Long NVDA Daily ETF	10.88%	11.81%
USAX Tradr 2X Long USAR Daily ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both USAX and NVDG in my portfolio?

USAX and NVDG have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, USAX or NVDG?

On fees, NVDG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, USAX or NVDG?

NVDG is cheaper with a 0.75% expense ratio, compared with 1.49% for USAX.

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

NVDG has the higher dividend yield at 10.88%, compared with 0.00% for USAX.

What is the main difference between USAX and NVDG?

They also come from different issuers: Tradr and Leverage Shares. Their fees differ too: 1.49% for USAX and 0.75% for NVDG.