{"url":"https://etfiq.com/compare/leverage/nvd-vs-nvdl","section":"compare","title":"NVD vs NVDL: which held to its multiple? | ETFIQ","description":"NVD sets out to return -2 times NVDA each day and NVDL +2 times. Over the three months to Sep 30, 2026 they finished \u22120.4 pts and \u22125.5 pts away.","as_of":"Sep 30, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which came closer to its stated multiple, NVD or NVDL?","acceptedAnswer":{"@type":"Answer","text":"Over the window to Sep 30, 2026, NVD finished 0.4 points from what its multiple implies and NVDL finished 5.5 points from its own, so NVD came closer. Neither figure predicts the next window: it depends on how much the underlying moves about."}},{"@type":"Question","name":"Are NVD and NVDL levered on the same thing?","acceptedAnswer":{"@type":"Answer","text":"Yes. Both are levered on NVIDIA, NVD at -2 times and NVDL at +2 times the daily move."}},{"@type":"Question","name":"Which one decays faster, NVD or NVDL?","acceptedAnswer":{"@type":"Answer","text":"Decay follows how much the underlying moves about. Over this window NVD\u2019s moved at 38% annualized and NVDL\u2019s at 38%, so NVD has the rougher ride and, at the same multiple, loses more to compounding."}},{"@type":"Question","name":"Can I hold NVD or NVDL for a year?","acceptedAnswer":{"@type":"Answer","text":"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\u2019s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way."}},{"@type":"Question","name":"Which is cheaper, NVD or NVDL?","acceptedAnswer":{"@type":"Answer","text":"NVD charges 1.35% a year and NVDL charges 1.05%, so NVDL is cheaper. Fees come from each fund's prospectus."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Leveraged ETFs","item":"https://etfiq.com/leverage/"},{"@type":"ListItem","position":3,"name":"NVD vs NVDL","item":"https://etfiq.com/compare/leverage/nvd-vs-nvdl"}]},{"@type":"WebPage","name":"NVD vs NVDL: which held to its multiple?","description":"NVD sets out to return -2 times NVDA each day and NVDL +2 times. Over the three months to Sep 30, 2026 they finished \u22120.4 pts and \u22125.5 pts away.","url":"https://etfiq.com/compare/leverage/nvd-vs-nvdl","dateModified":"2026-09-30","abstract":"Over three months against its own daily promise, NVD finished 1.4 points over and NVDL 3.2 points short.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of NVD and NVDL","description":"NVD sets out to return -2 times NVDA each day and NVDL +2 times. Over the three months to Sep 30, 2026 they finished \u22120.4 pts and \u22125.5 pts away.","dateModified":"2026-09-30","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/leverage/nvd-vs-nvdl","license":"https://etfiq.com/standards/","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/leverage.json"}],"variableMeasured":["Stated multiple","Underlying return","What the stated multiple implies","Fund total return","Difference against the label","Volatility of the underlying","Expense ratio"],"keywords":["exchange-traded funds","ETF","Leveraged ETFs","fund data","SEC filings"]}],"characters":7155,"truncated":true,"content":"ETFIQ / Leveraged ETFs / Head to head / NVD vs NVDL \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Sep 30, 2026 .\n\n NVD vs NVDL: which held to its multiple?\n\n Over three months against its own daily promise, NVD finished 1.4 points over and NVDL 3.2 points short.\n Copy this for sharing \n \n GraniteShares 2x Short NVDA Daily ETF and GraniteShares 2x Long NVDA Daily ETF.\n\n Download as PDF \n\n \u221231.8% NVD returned, 3 months \n +26.0% NVDL returned, 3 months \n \u22120.4 pts NVD from its stated multiple \n \u22125.5 pts NVDL from its stated multiple \n\n ETFIQ Decay Resistance Score: NVD scores higher\n Did ","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","citation":"ETFIQ, as of Sep 30, 2026. https://etfiq.com/compare/leverage/nvd-vs-nvdl","a":{"ticker":"NVD","name":"GraniteShares 2x Short NVDA Daily ETF","issuer":"GraniteShares","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: NVD returned \u221231.8% where its own daily promise gave \u221233.3%, 1.4 points over.","url":"https://etfiq.com/funds/nvd","key_facts":[{"label":"What NVDA did","value":"+15.7%","as_of":"2026-09-30","source":null},{"label":"What \u22122 times a day gives","value":"\u221233.3%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"\u221231.8%","as_of":"2026-09-30","source":null},{"label":"The fund itself added","value":"+1.4 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$55m","as_of":"2026-09-30","source":"issuer page, as of Sep 30, 2026"},{"label":"Expense ratio","value":"1.35%","as_of":"2026-09-30","source":"485BPOS XBRL, Oct 24, 2025"}]},"b":{"ticker":"NVDL","name":"GraniteShares 2x Long NVDA Daily ETF","issuer":"GraniteShares","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: NVDL returned +26.0% where its own daily promise gave +29.2%, 3.2 points short.","url":"https://etfiq.com/funds/nvdl","key_facts":[{"label":"What NVDA did","value":"+15.7%","as_of":"2026-09-30","source":null},{"label":"What 2 times a day gives","value":"+29.2%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"+26.0%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22123.2 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$3.8bn","as_of":"2026-09-30","source":"issuer page, as of Sep 30, 2026"},{"label":"Expense ratio","value":"1.05%","as_of":"2026-09-30","source":"485BPOS XBRL, Oct 24, 2025"}]},"overlap_pct":null,"overlap_note":"ETFIQ does not publish a holdings overlap for this pair. Either the funds are not compared on holdings, or one book is incomplete.","full_text_at":"https://etfiq.com/compare/leverage/nvd-vs-nvdl"}