UXI vs. NVDG

Last updated Aug 2, 2026

UXI (ProShares Ultra Industrials) and NVDG (Leverage Shares 2X Long NVDA Daily ETF) are both Leveraged Equities funds. UXI is passively managed, while NVDG is actively managed. Over the past year, UXI returned 35.83% vs 4.49% for NVDG. Their 0.37 correlation means their historical movements had little consistent relationship. UXI charges 0.95%/yr vs 0.75%/yr for NVDG.

Performance

UXI vs. NVDG - Performance Comparison

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

Returns By Period

In the year-to-date period, UXI achieves a 28.57% return, which is significantly higher than NVDG's -0.36% return.

UXI

• 1D: 1.77%
• 1M: -4.74%
• 6M: 14.00%
• YTD: 28.57%
• 1Y: 35.83%
• 3Y*: 29.57%
• 5Y*: 12.67%
• 10Y*: 19.45%
• ALL TIME*: 13.24%

NVDG

• 1D: 5.91%
• 1M: 4.55%
• 6M: -3.62%
• YTD: -0.36%
• 1Y: 4.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.19%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
NVDG Leverage Shares 2X Long NVDA Daily ETF	$3.01M	$3.98M	$6.31M
UXI ProShares Ultra Industrials	$192.00K	$302.67K	$285.62K

UXI vs. NVDG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
UXI ProShares Ultra Industrials	28.57%	28.84%	-7.71%
NVDG Leverage Shares 2X Long NVDA Daily ETF	-0.36%	32.45%	-0.52%

Correlation

The correlation between UXI and NVDG is 0.32, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.32
Correlation (All Time) Calculated using the full available price history since Dec 13, 2024	0.37

Return for Risk

UXI vs. NVDG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

UXI

UXI Risk / Return Rank: 39
UXI Sharpe Ratio Rank: 39
UXI Sortino Ratio Rank: 39
UXI Omega Ratio Rank: 37
UXI Calmar Ratio Rank: 39
UXI Martin Ratio Rank: 43

NVDG

NVDG Risk / Return Rank: 13
NVDG Sharpe Ratio Rank: 11
NVDG Sortino Ratio Rank: 16
NVDG Omega Ratio Rank: 16
NVDG Calmar Ratio Rank: 11
NVDG Martin Ratio Rank: 10

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

UXI vs. NVDG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Industrials (UXI) 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.

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.

	UXI	NVDG	Difference
Sharpe ratio: Return per unit of total volatility	0.95	-0.01	+0.97
Sortino ratio: Return per unit of downside risk	1.46	0.50	+0.96
Omega ratio: Gain probability vs. loss probability	1.17	1.06	+0.12
Calmar ratio: Return relative to maximum drawdown	1.36	-0.02	+1.39
Martin ratio: Return relative to average drawdown	4.85	-0.04	+4.90

UXI vs. NVDG - Sharpe Ratio Comparison

The current UXI Sharpe Ratio is 0.95, which is higher than the NVDG Sharpe Ratio of -0.01. The chart below compares the historical Sharpe Ratios of UXI and NVDG, 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

UXI vs. NVDG - Drawdown Comparison

The maximum UXI drawdown since its inception was -89.01%, which is greater than NVDG's maximum drawdown of -66.19%. Use the drawdown chart below to compare losses from any high point for UXI and NVDG.

Drawdown Indicators

	UXI	NVDG	Difference
Max Drawdown Largest peak-to-trough decline	-89.01%	-66.19%	-22.82%
Max Drawdown (1Y) Largest decline over 1 year	-23.59%	-42.72%	+19.13%
Max Drawdown (3Y) Largest decline over 3 years	-36.42%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-48.25%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-66.48%	—	—
Current Drawdown Current decline from peak	-6.42%	-31.58%	+25.16%
Average Drawdown Average peak-to-trough decline	-22.46%	-23.52%	+1.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.62%	21.96%	-15.34%

Volatility

UXI vs. NVDG - Volatility Comparison

The current volatility for ProShares Ultra Industrials (UXI) is 9.93%, while Leverage Shares 2X Long NVDA Daily ETF (NVDG) has a volatility of 24.57%. This indicates that UXI experiences smaller price fluctuations and is considered to be less risky than NVDG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UXI	NVDG	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.93%	24.57%	-14.64%
Volatility (6M) Calculated over the trailing 6-month period	27.91%	55.94%	-28.03%
Volatility (1Y) Calculated over the trailing 1-year period	33.76%	72.25%	-38.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.24%	89.76%	-53.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.50%	89.76%	-50.26%

UXI vs. NVDG - Expense Ratio Comparison

UXI has a 0.95% expense ratio, which is higher than NVDG's 0.75% expense ratio.

Dividends

UXI vs. NVDG - Dividend Comparison

UXI's dividend yield for the trailing twelve months is around 0.51%, less than NVDG's 11.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NVDG Leverage Shares 2X Long NVDA Daily ETF	11.85%	11.81%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UXI ProShares Ultra Industrials	0.51%	0.90%	0.18%	0.21%	0.24%	0.03%	0.29%	0.58%	0.37%	0.24%	0.38%	0.41%

Frequently Asked Questions

Can I hold both UXI and NVDG in my portfolio?

UXI and NVDG have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UXI or NVDG?

NVDG has higher volatility (24.57%) compared to UXI (9.93%). In terms of maximum drawdown, UXI dropped -89.01% vs NVDG's -66.19%.

Which ETF is better, UXI or NVDG?

On 1-year performance, UXI leads with 35.83% vs 4.49% for NVDG. On fees, NVDG is cheaper at 0.75% per year. On volatility, UXI has been the lower-risk option at 9.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UXI or NVDG?

Over the 1-year period, UXI has performed better with a 35.83% return vs 4.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UXI or NVDG?

NVDG is cheaper with a 0.75% expense ratio, compared with 0.95% for UXI.

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

NVDG has the higher dividend yield at 11.85%, compared with 0.51% for UXI.

What is the main difference between UXI and NVDG?

They also come from different issuers: ProShares and Leverage Shares. Their fees differ too: 0.95% for UXI and 0.75% for NVDG.

Which has better risk-adjusted returns?

UXI currently has the higher Sharpe Ratio (0.95 vs -0.01), 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.