NVDG vs NVDL: which held to its multiple?
Over the days both have traded, NVDG finished 5.4 points from its stated multiple and NVDL 5.5. Leverage Shares 2X Long NVDA Daily ETF and GraniteShares 2x Long NVDA Daily ETF.
NVDG returned +26.1% while 2 times NVDA's move would have been +31.4%
NVDL returned +26.0% while 2 times NVDA's move would have been +31.4%
A percentile among the 470 leveraged ETFs, long, 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 | NVDG | NVDL | NVDG | NVDL | NVDG | NVDL |
| 1 month | +5.8% | +5.6% | +7.1% | +7.1% | −1.3 pts | −1.5 pts |
| 3 months | +26.1% | +26.0% | +31.4% | +31.4% | −5.4 pts | −5.5 pts |
| 6 months | +49.1% | +49.4% | +60.5% | +60.5% | −11.4 pts | −11.1 pts |
| 1 year | +16.9% | +17.6% | +45.4% | +45.4% | −28.5 pts | −27.8 pts |
| 3 years | not published | +766.9% | not published | not meaningful | not published | not meaningful |
| Since launch NVDG Dec 2024 · NVDL Dec 2022 | +63.6% | +2711.9% | +141.1% | not meaningful | −77.5 pts | not meaningful |
NVDG and NVDL over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
NVDG and NVDL on the same fields, as of Sep 30, 2026. Source: ETFIQ.
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 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.
NVDL in plain words
Three months to Sep 30, 2026: NVDL returned +26.0% where its own daily promise gave +29.2%, 3.2 points short. Read the multiple against the whole window instead and 2 times NVDA's 15.7% implies +31.4%, which makes NVDL look 5.5 points short. NVDL aims to return +2 times NVDA's move each day, then resets.
Questions people ask
- Which came closer to its stated multiple, NVDG or NVDL?
- Over the window to Sep 30, 2026, NVDG finished 5.4 points from what its multiple implies and NVDL finished 5.5 points from its own, so NVDG came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are NVDG and NVDL levered on the same thing?
- Yes. Both are levered on NVIDIA, NVDG at +2 times and NVDL at +2 times the daily move.
- Which one decays faster, NVDG or NVDL?
- Decay follows how much the underlying moves about. Over this window NVDG’s moved at 38% annualized and NVDL’s at 38%, so NVDG has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold NVDG or NVDL 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, NVDG against NVDL, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/nvdg-vs-nvdl
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, NVDG against NVDL, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/nvdg-vs-nvdl Free to use with attribution; the underlying files are at Open data.
Other forms
- Plain
- ETFIQ, NVDG against NVDL, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/nvdg-vs-nvdl
- APA
- ETFIQ. (Sep 30, 2026). NVDG against NVDL. Retrieved from https://etfiq.com/compare/leverage/nvdg-vs-nvdl
- Markdown
- [NVDG against NVDL (ETFIQ, Sep 30, 2026)](https://etfiq.com/compare/leverage/nvdg-vs-nvdl)