USD vs. NVDU

Last updated Jun 26, 2026

USD (ProShares Ultra Semiconductors) and NVDU (Direxion Daily NVDA Bull 2X Shares ETF) are both Leveraged Equities funds. USD is passively managed, while NVDU is actively managed. Over the past year, USD returned 185.02% vs 27.95% for NVDU. Their correlation of 0.91 suggests significant overlap in exposure. USD charges 0.95%/yr vs 1.04%/yr for NVDU.

Performance

USD vs. NVDU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Semiconductors (USD) and Direxion Daily NVDA Bull 2X Shares ETF (NVDU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USD achieves a 92.18% return, which is significantly higher than NVDU's -1.77% return.

USD

• 1D: 4.73%
• 1M: -0.57%
• YTD: 92.18%
• 6M: 86.88%
• 1Y: 185.02%
• 3Y*: 118.50%
• 5Y*: 64.73%
• 10Y*: 62.72%

NVDU

• 1D: -3.21%
• 1M: -18.95%
• YTD: -1.77%
• 6M: -4.20%
• 1Y: 27.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

USD vs. NVDU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
USD ProShares Ultra Semiconductors	92.18%	62.08%	139.64%	32.54%
NVDU Direxion Daily NVDA Bull 2X Shares ETF	-1.77%	33.65%	289.29%	12.08%

Correlation

The correlation between USD and NVDU is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023	0.91

The correlation between USD and NVDU has been stable across timeframes, ranging from 0.85 to 0.91 - a consistent structural relationship.

USD vs. NVDU - Sectors Allocation Comparison

Sectors	USD	NVDU
Technology	26.3%	100.0%
Financial Services	26.0%	-
Energy	0.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

USD vs. NVDU — Risk / Return Rank

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

USD

USD Risk / Return Rank: 84
USD Sharpe Ratio Rank: 92
USD Sortino Ratio Rank: 71
USD Omega Ratio Rank: 74
USD Calmar Ratio Rank: 93
USD Martin Ratio Rank: 87

NVDU

NVDU Risk / Return Rank: 17
NVDU Sharpe Ratio Rank: 15
NVDU Sortino Ratio Rank: 20
NVDU Omega Ratio Rank: 19
NVDU Calmar Ratio Rank: 17
NVDU Martin Ratio Rank: 16

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.

USD vs. NVDU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Semiconductors (USD) and Direxion Daily NVDA Bull 2X Shares ETF (NVDU). 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.

	USD	NVDU	Difference
Sharpe ratio: Return per unit of total volatility	2.75	0.40	+2.35
Sortino ratio: Return per unit of downside risk	2.77	1.03	+1.74
Omega ratio: Gain probability vs. loss probability	1.38	1.12	+0.26
Calmar ratio: Return relative to maximum drawdown	5.86	0.66	+5.19
Martin ratio: Return relative to average drawdown	16.16	1.44	+14.72

USD vs. NVDU - Sharpe Ratio Comparison

The current USD Sharpe Ratio is 2.75, which is higher than the NVDU Sharpe Ratio of 0.40. The chart below compares the historical Sharpe Ratios of USD and NVDU, 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

USD vs. NVDU - Drawdown Comparison

The maximum USD drawdown since its inception was -88.63%, which is greater than NVDU's maximum drawdown of -67.27%. Use the drawdown chart below to compare losses from any high point for USD and NVDU.

Drawdown Indicators

	USD	NVDU	Difference
Max Drawdown Largest peak-to-trough decline	-88.63%	-67.27%	-21.36%
Max Drawdown (1Y) Largest decline over 1 year	-31.80%	-42.27%	+10.47%
Max Drawdown (3Y) Largest decline over 3 years	-64.46%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-77.85%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-77.85%	—	—
Current Drawdown Current decline from peak	-11.21%	-33.10%	+21.89%
Average Drawdown Average peak-to-trough decline	-32.29%	-18.95%	-13.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.50%	19.51%	-8.01%

Volatility

USD vs. NVDU - Volatility Comparison

ProShares Ultra Semiconductors (USD) has a higher volatility of 33.79% compared to Direxion Daily NVDA Bull 2X Shares ETF (NVDU) at 26.08%. This indicates that USD's price experiences larger fluctuations and is considered to be riskier than NVDU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USD	NVDU	Difference
Volatility (1M) Calculated over the trailing 1-month period	33.79%	26.08%	+7.71%
Volatility (6M) Calculated over the trailing 6-month period	53.90%	52.69%	+1.21%
Volatility (1Y) Calculated over the trailing 1-year period	67.84%	70.35%	-2.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	77.74%	90.91%	-13.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	69.82%	90.91%	-21.09%

USD vs. NVDU - Expense Ratio Comparison

USD has a 0.95% expense ratio, which is lower than NVDU's 1.04% expense ratio.

Dividends

USD vs. NVDU - Dividend Comparison

USD's dividend yield for the trailing twelve months is around 0.30%, less than NVDU's 6.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NVDU Direxion Daily NVDA Bull 2X Shares ETF	6.01%	5.68%	16.85%	0.63%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USD ProShares Ultra Semiconductors	0.30%	0.39%	0.10%	0.05%	0.30%	0.00%	0.14%	0.72%	0.93%	0.32%	0.46%	0.39%

Frequently Asked Questions

Can I hold both USD and NVDU in my portfolio?

USD and NVDU have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USD or NVDU?

USD has higher volatility (33.79%) compared to NVDU (26.08%). In terms of maximum drawdown, USD dropped -88.63% vs NVDU's -67.27%.

Which ETF is better, USD or NVDU?

On 1-year performance, USD leads with 185.02% vs 27.95% for NVDU. On fees, USD is cheaper at 0.95% per year. On volatility, NVDU has been the lower-risk option at 26.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, USD or NVDU?

Over the 1-year period, USD has performed better with a 185.02% return vs 27.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, USD or NVDU?

USD is cheaper with a 0.95% expense ratio, compared with 1.04% for NVDU.

Which ETF pays a higher dividend yield, USD or NVDU?

NVDU has the higher dividend yield at 6.01%, compared with 0.30% for USD.

What is the main difference between USD and NVDU?

They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for USD and 1.04% for NVDU.

Which has better risk-adjusted returns?

USD currently has the higher Sharpe Ratio (2.75 vs 0.40), 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.