NVDB vs NVDS: which held to its multiple?
Over three months against its own daily promise, NVDB finished 3.2 points short and NVDS 1.4 points over. ProShares Ultra NVDA and Tradr 1.5X Short NVDA Daily ETF.
NVDB costs 0.20 points a year less; their one-year returns differ by 45.5 points; NVDS is 2.1 times larger.
| NVDB | NVDS | |
|---|---|---|
| Expense ratio | 0.95% | 1.15% |
| Net assets | $5m | $11m |
| Total return, 1 year | +9.0% | −36.5% |
| What it tracks | NVDA | NVDA |
| Holdings in common | not published | |
| What its daily multiple gave, 3 months | +14.4% | −17.6% |
| What the underlying did, 3 months | NVDA 8.8% | NVDA 8.8% |
| The multiple over the whole window | 5 times gives −13.2% | |
NVDB returned +11.2% while 2 times NVDA's move would have been +17.6%. Figures from Jul 10, 2026 to Oct 9, 2026.
NVDB returned +11.2% while 2 times NVDA's move would have been +17.6%. Figures from Jul 10, 2026 to Oct 9, 2026.
NVDS returned −16.2% while −1.5 times NVDA's move would have been −13.2%. Figures from Jul 10, 2026 to Oct 9, 2026.
NVDS returned −16.2% while −1.5 times NVDA's move would have been −13.2%. Figures from Jul 10, 2026 to Oct 9, 2026.
NVDB among the 517 leveraged ETFs, long, over three months
NVDS among the 128 inverse ETFs over three months
A percentile among the 517 leveraged ETFs, long, over three months. NVDS is a percentile among the 128 inverse ETFs over three months, a different set, so the two marks are not on one scale. All leveraged ETFs ranked by it → How it is computed →
Performance, window by window
| Total return | Multiple would give | Difference | ||||
|---|---|---|---|---|---|---|
| Window | NVDB | NVDS | NVDB | NVDS | NVDB | NVDS |
| 1 month | +3.5% | −4.2% | +5.3% | −3.9% | −1.7 pts | −0.2 pts |
| 3 months | +11.2% | −16.2% | +17.6% | −13.2% | −6.4 pts | −3.0 pts |
| 6 months | +29.7% | −33.3% | +43.7% | −32.7% | −13.9 pts | −0.5 pts |
| 1 year | +9.0% | −36.5% | +38.7% | −29.0% | −29.7 pts | −7.5 pts |
| 3 years | not published | −95.2% | not published | not meaningful | not published | not meaningful |
| Since launch NVDB Sep 2025 · NVDS Jul 2022 | +26.3% | −99.2% | +59.2% | not meaningful | −32.9 pts | not meaningful |
Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
As of Oct 9, 2026. Source: ETFIQ.
NVDB in plain words
Three months to Oct 9, 2026: NVDB returned +11.2% where its own daily promise gave +14.4%, 3.2 points short. Read the multiple against the whole window instead and 2 times NVDA's 8.8% implies +17.6%, which makes NVDB look 6.4 points short. That 6.4 is two pieces: daily compounding, −3.2 points, which happens to any 2 times fund over the same path, and the fund itself, −3.2 points against its own daily promise. NVDB 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 37% 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.
NVDS in plain words
Three months to Oct 9, 2026: NVDS returned −16.2% where its own daily promise gave −17.6%, 1.4 points over. Read the multiple against the whole window instead and −1.5 times NVDA's 8.8% implies −13.2%, which makes NVDS look 3.0 points short. That 3.0 is two pieces: daily compounding, −4.4 points, which happens to any −1.5 times fund over the same path, and the fund itself, +1.4 points against its own daily promise. NVDS aims to return -1.5 times NVDA's move each day, then resets. Over longer, the daily results compound, so the total is not -1.5 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, NVDB or NVDS?
- Over the window to Oct 9, 2026, NVDB finished 6.4 points from what its multiple implies and NVDS finished 3.0 points from its own, so NVDS came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are NVDB and NVDS levered on the same thing?
- Yes. Both are levered on NVIDIA, NVDB at +2 times and NVDS at -1.5 times the daily move.
- Which one decays faster, NVDB or NVDS?
- Decay follows how much the underlying moves about. Over this window NVDB’s moved at 37% annualized and NVDS’s at 37%, so NVDB has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold NVDB or NVDS 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; a link is not an endorsement. A comparison is not a recommendation.
How this is computed
It is a position in a set, not a rating, and neither end of it is a recommendation.
Every figure is an ETFIQ calculation with distributions reinvested.
ETFIQ, NVDB against NVDS, data as of Oct 9, 2026. https://etfiq.com/compare/leverage/nvdb-vs-nvds
ETFIQ. (Oct 9, 2026). NVDB against NVDS. Retrieved from https://etfiq.com/compare/leverage/nvdb-vs-nvds
[NVDB against NVDS (ETFIQ, Oct 9, 2026)](https://etfiq.com/compare/leverage/nvdb-vs-nvds)
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