NBIZ vs NEBX: which held to its multiple?
Over three months against its own daily promise, NBIZ finished 0.0 points over and NEBX 3.1 points short. Tradr 2X Short NBIS Daily ETF and Tradr 2X Long NBIS Daily ETF.
NBIZ returned −81.0% while −2 times NBIS's move would have been −5.8%
NEBX returned −30.2% while 2 times NBIS's move would have been +5.8%
NBIZ among the 125 inverse ETFs over three months
NEBX among the 470 leveraged ETFs, long, over three months
A percentile among the 125 inverse ETFs over three months. NEBX is a percentile among the 470 leveraged ETFs, long, over three months, a different set, so the two marks are not on one scale. It is a position in a set, not a rating, and neither end of it is a recommendation. All leveraged ETFs ranked by it → How it is computed →
Performance, window by window
| Total return | Multiple would give | Difference | ||||
|---|---|---|---|---|---|---|
| Window | NBIZ | NEBX | NBIZ | NEBX | NBIZ | NEBX |
| 1 month | −31.0% | +24.7% | −28.7% | +28.7% | −2.4 pts | −4.0 pts |
| 3 months | −81.0% | −30.2% | −5.8% | +5.8% | −75.1 pts | −36.1 pts |
| 6 months | −98.4% | +162.7% | not meaningful | not meaningful | not meaningful | not meaningful |
| 1 year | not published | +27.0% | not published | not meaningful | not published | not meaningful |
| Since launch NBIZ Jan 2026 · NEBX Sep 2025 | −99.3% | +63.7% | not meaningful | not meaningful | not meaningful | not meaningful |
NBIZ and NEBX over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
NBIZ and NEBX on the same fields, as of Sep 30, 2026. Source: ETFIQ.
NBIZ in plain words
Three months to Sep 30, 2026: NBIZ returned −81.0% where its own daily promise gave −81.0%, 0.0 points short. Read the multiple against the whole window instead and −2 times NBIS's 2.9% implies −5.8%, which makes NBIZ look 75.1 points short. 75.1 of that is daily compounding, which happens to any −2 times fund over the same path, and the rest is the fund. NBIZ aims to return -2 times NBIS's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not -2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. NBIS moved at 131% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.
NEBX in plain words
Three months to Sep 30, 2026: NEBX returned −30.2% where its own daily promise gave −27.1%, 3.1 points short. Read the multiple against the whole window instead and 2 times NBIS's 2.9% implies +5.8%, which makes NEBX look 36.1 points short. 32.9 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. NEBX aims to return +2 times NBIS's move each day, then resets. Over longer, the daily results compound, so the total is not +2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more.
Questions people ask
- Which came closer to its stated multiple, NBIZ or NEBX?
- Over the window to Sep 30, 2026, NBIZ finished 75.1 points from what its multiple implies and NEBX finished 36.1 points from its own, so NEBX came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are NBIZ and NEBX levered on the same thing?
- Yes. Both are levered on Nebius, NBIZ at -2 times and NEBX at +2 times the daily move.
- Which one decays faster, NBIZ or NEBX?
- Decay follows how much the underlying moves about. Over this window NBIZ’s moved at 131% annualized and NEBX’s at 131%, so NBIZ has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold NBIZ or NEBX for a year?
- Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.
ETFIQ, NBIZ against NEBX, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/nbiz-vs-nebx
Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.
Cite this page. ETFIQ, NBIZ against NEBX, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/nbiz-vs-nebx Free to use with attribution; the underlying files are at Open data.
Other forms
- Plain
- ETFIQ, NBIZ against NEBX, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/nbiz-vs-nebx
- APA
- ETFIQ. (Sep 30, 2026). NBIZ against NEBX. Retrieved from https://etfiq.com/compare/leverage/nbiz-vs-nebx
- Markdown
- [NBIZ against NEBX (ETFIQ, Sep 30, 2026)](https://etfiq.com/compare/leverage/nbiz-vs-nebx)