NVDD vs NVDS: which held to its multiple?
Over three months against its own daily promise, NVDD finished 1.6 points over and NVDS 1.4 points over. Direxion Daily NVDA Bear 1X ETF and Tradr 1.5X Short NVDA Daily ETF.
NVDD returned −15.1% while −1 times NVDA's move would have been −15.7%
NVDS returned −23.7% while −1.5 times NVDA's move would have been −23.6%
A percentile among the 125 inverse ETFs over three months. 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 | NVDS | NVDD | NVDS | NVDD | NVDS |
| 1 month | −3.2% | −5.3% | −3.6% | −5.3% | +0.3 pts | 0.0 pts |
| 3 months | −15.1% | −23.7% | −15.7% | −23.6% | +0.6 pts | −0.1 pts |
| 6 months | −26.0% | −39.5% | −30.2% | −45.4% | +4.2 pts | +5.9 pts |
| 1 year | −23.5% | −39.0% | −22.7% | −34.0% | −0.8 pts | −4.9 pts |
| 3 years | −87.5% | −95.5% | not meaningful | not meaningful | not meaningful | not meaningful |
| Since launch NVDD Sep 2023 · NVDS Jul 2022 | −86.9% | −99.2% | not meaningful | not meaningful | not meaningful | not meaningful |
NVDD and NVDS 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 NVDS 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.
NVDS in plain words
Three months to Sep 30, 2026: NVDS returned −23.7% where its own daily promise gave −25.1%, 1.4 points over. Read the multiple against the whole window instead and −1.5 times NVDA's 15.7% implies −23.6%, which makes NVDS look 0.1 points short. 1.5 of that is daily compounding, which happens to any −1.5 times fund over the same path, and the rest is the fund. 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, NVDD or NVDS?
- Over the window to Sep 30, 2026, NVDD finished 0.6 points from what its multiple implies and NVDS finished 0.1 points from its own, so NVDS came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are NVDD and NVDS levered on the same thing?
- Yes. Both are levered on NVIDIA, NVDD at -1 times and NVDS at -1.5 times the daily move.
- Which one decays faster, NVDD or NVDS?
- Decay follows how much the underlying moves about. Over this window NVDD’s moved at 38% annualized and NVDS’s at 38%, so NVDD has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold NVDD 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. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.
ETFIQ, NVDD against NVDS, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/nvdd-vs-nvds
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 NVDS, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/nvdd-vs-nvds Free to use with attribution; the underlying files are at Open data.
Other forms
- Plain
- ETFIQ, NVDD against NVDS, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/nvdd-vs-nvds
- APA
- ETFIQ. (Sep 30, 2026). NVDD against NVDS. Retrieved from https://etfiq.com/compare/leverage/nvdd-vs-nvds
- Markdown
- [NVDD against NVDS (ETFIQ, Sep 30, 2026)](https://etfiq.com/compare/leverage/nvdd-vs-nvds)