NVDD vs NVDG: which held to its multiple?
Over three months against its own daily promise, NVDD finished 1.6 points over and NVDG 3.1 points short. Direxion Daily NVDA Bear 1X ETF and Leverage Shares 2X Long NVDA Daily ETF.
NVDD returned −15.1% while −1 times NVDA's move would have been −15.7%
NVDG returned +26.1% while 2 times NVDA's move would have been +31.4%
NVDD among the 125 inverse ETFs over three months
NVDG among the 470 leveraged ETFs, long, over three months
A percentile among the 125 inverse ETFs over three months. NVDG 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 | NVDD | NVDG | NVDD | NVDG | NVDD | NVDG |
| 1 month | −3.2% | +5.8% | −3.6% | +7.1% | +0.3 pts | −1.3 pts |
| 3 months | −15.1% | +26.1% | −15.7% | +31.4% | +0.6 pts | −5.4 pts |
| 6 months | −26.0% | +49.1% | −30.2% | +60.5% | +4.2 pts | −11.4 pts |
| 1 year | −23.5% | +16.9% | −22.7% | +45.4% | −0.8 pts | −28.5 pts |
| 3 years | −87.5% | not published | not meaningful | not published | not meaningful | not published |
| Since launch NVDD Sep 2023 · NVDG Dec 2024 | −86.9% | +63.6% | not meaningful | +141.1% | not meaningful | −77.5 pts |
NVDD and NVDG over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
NVDD and NVDG on the same fields, as of Sep 30, 2026. Source: ETFIQ.
NVDD in plain words
Three months to Sep 30, 2026: NVDD returned −15.1% where its own daily promise gave −16.7%, 1.6 points over. Read the multiple against the whole window instead and −1 times NVDA's 15.7% implies −15.7%, which makes NVDD look 0.6 points over. 1.0 of that is daily compounding, which happens to any −1 times fund over the same path, and the rest is the fund. NVDD aims to return -1 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 -1 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.
NVDG in plain words
Three months to Sep 30, 2026: NVDG returned +26.1% where its own daily promise gave +29.2%, 3.1 points short. Read the multiple against the whole window instead and 2 times NVDA's 15.7% implies +31.4%, which makes NVDG look 5.4 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. NVDG 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, NVDD or NVDG?
- Over the window to Sep 30, 2026, NVDD finished 0.6 points from what its multiple implies and NVDG finished 5.4 points from its own, so NVDD came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are NVDD and NVDG levered on the same thing?
- Yes. Both are levered on NVIDIA, NVDD at -1 times and NVDG at +2 times the daily move.
- Which one decays faster, NVDD or NVDG?
- Decay follows how much the underlying moves about. Over this window NVDD’s moved at 38% annualized and NVDG’s at 38%, so NVDD has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold NVDD or NVDG 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, NVDD against NVDG, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/nvdd-vs-nvdg
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, NVDD against NVDG, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/nvdd-vs-nvdg Free to use with attribution; the underlying files are at Open data.
Other forms
- Plain
- ETFIQ, NVDD against NVDG, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/nvdd-vs-nvdg
- APA
- ETFIQ. (Sep 30, 2026). NVDD against NVDG. Retrieved from https://etfiq.com/compare/leverage/nvdd-vs-nvdg
- Markdown
- [NVDD against NVDG (ETFIQ, Sep 30, 2026)](https://etfiq.com/compare/leverage/nvdd-vs-nvdg)