NVC vs NVD: which held to its multiple?
Over three months against its own daily promise, NVC finished 2.2 points short and NVD 1.4 points over. Corgi NVDA 2x Daily ETF and GraniteShares 2x Short NVDA Daily ETF.
NVC returned +26.9% while 2 times NVDA's move would have been +31.4%
NVD returned −31.8% while −2 times NVDA's move would have been −31.4%
NVC among the 470 leveraged ETFs, long, over three months
NVD among the 125 inverse ETFs over three months
A percentile among the 470 leveraged ETFs, long, over three months. NVD is a percentile among the 125 inverse ETFs 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 | NVC | NVD | NVC | NVD | NVC | NVD |
| 1 month | +6.7% | −7.4% | +7.1% | −7.1% | −0.5 pts | −0.3 pts |
| 3 months | +26.9% | −31.8% | +31.4% | −31.4% | −4.5 pts | −0.4 pts |
| 6 months | not published | −51.1% | not published | −60.5% | not published | +9.3 pts |
| 1 year | not published | −53.1% | not published | −45.4% | not published | −7.7 pts |
| 3 years | not published | −99.3% | not published | not meaningful | not published | not meaningful |
| Since launch NVC Jun 2026 · NVD Aug 2023 | +24.7% | −99.2% | +28.5% | not meaningful | −3.9 pts | not meaningful |
NVC and NVD over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
NVC and NVD on the same fields, as of Sep 30, 2026. Source: ETFIQ.
NVC in plain words
Three months to Sep 30, 2026: NVC returned +26.9% where its own daily promise gave +29.2%, 2.2 points short. Read the multiple against the whole window instead and 2 times NVDA's 15.7% implies +31.4%, which makes NVC look 4.5 points short. 2.2 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. NVC aims to return +2 times NVDA'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. NVDA moved at 38% 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.
NVD in plain words
Three months to Sep 30, 2026: NVD returned −31.8% where its own daily promise gave −33.3%, 1.4 points over. Read the multiple against the whole window instead and −2 times NVDA's 15.7% implies −31.4%, which makes NVD look 0.4 points short. 1.8 of that is daily compounding, which happens to any −2 times fund over the same path, and the rest is the fund. NVD aims to return -2 times NVDA'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, NVC or NVD?
- Over the window to Sep 30, 2026, NVC finished 4.5 points from what its multiple implies and NVD finished 0.4 points from its own, so NVD came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are NVC and NVD levered on the same thing?
- Yes. Both are levered on NVIDIA, NVC at +2 times and NVD at -2 times the daily move.
- Which one decays faster, NVC or NVD?
- Decay follows how much the underlying moves about. Over this window NVC’s moved at 38% annualized and NVD’s at 38%, so NVC has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold NVC or NVD 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, NVC against NVD, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/nvc-vs-nvd
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, NVC against NVD, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/nvc-vs-nvd Free to use with attribution; the underlying files are at Open data.
Other forms
- Plain
- ETFIQ, NVC against NVD, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/nvc-vs-nvd
- APA
- ETFIQ. (Sep 30, 2026). NVC against NVD. Retrieved from https://etfiq.com/compare/leverage/nvc-vs-nvd
- Markdown
- [NVC against NVD (ETFIQ, Sep 30, 2026)](https://etfiq.com/compare/leverage/nvc-vs-nvd)