Which came closer to its stated multiple, NVDG or NVDX?

Over the window to Sep 30, 2026, NVDG finished 5.4 points from what its multiple implies and NVDX finished 6.8 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 NVDX levered on the same thing?

Yes. Both are levered on NVIDIA, NVDG at +2 times and NVDX at +2 times the daily move.

Which one decays faster, NVDG or NVDX?

Decay follows how much the underlying moves about. Over this window NVDG’s moved at 38% annualized and NVDX’s at 38%, so NVDG has the rougher ride and, at the same multiple, loses more to compounding.

Can I hold NVDG or NVDX 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.

Which is cheaper, NVDG or NVDX?

NVDG charges 0.76% a year and NVDX charges 1.05%, so NVDG is cheaper. Fees come from each fund's prospectus.

Share on X Download as PDF Open live

NVDG vs NVDX: which held to its multiple?

Over the days both have traded, NVDG finished 5.4 points from its stated multiple and NVDX 6.8. Leverage Shares 2X Long NVDA Daily ETF and T-REX 2X LONG NVIDIA DAILY TARGET ETF.

+26.1%

NVDG returned, 3 months

+24.6%

NVDX returned, 3 months

−5.4 pts

NVDG from its stated multiple

−6.8 pts

NVDX from its stated multiple

NVDG · 3 months to Sep 30, 20265.4 pts short of its stated multiple

NVDG returned +26.1% while 2 times NVDA's move would have been +31.4%

NVDX · 3 months to Sep 30, 20266.8 pts short of its stated multiple

NVDX returned +24.6% while 2 times NVDA's move would have been +31.4%

ETFIQ Decay Resistance Score · NVDG scores higherDid it keep up with its own daily multiple, compounded day by day?

NVDG 37.4

NVDX 16.4

0.1, the lowest in this set99.9, the highest

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	NVDX	NVDG	NVDX	NVDG	NVDX
1 month	+5.8%	+5.8%	+7.1%	+7.1%	−1.3 pts	−1.3 pts
3 months	+26.1%	+24.6%	+31.4%	+31.4%	−5.4 pts	−6.8 pts
6 months	+49.1%	+46.1%	+60.5%	+60.5%	−11.4 pts	−14.4 pts
1 year	+16.9%	+11.7%	+45.4%	+45.4%	−28.5 pts	−33.7 pts
Since launch NVDG Dec 2024 · NVDX Oct 2023	+63.6%	+877.3%	+141.1%	not meaningful	−77.5 pts	not meaningful

NVDG and NVDX 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

Leverage Shares 2X Long NVDA Daily ETF · Aims to return twice the daily move of NVIDIA (NVDA)

NVDX

T-REX 2X LONG NVIDIA DAILY TARGET ETF · Aims to return twice the daily move of NVIDIA (NVDA)

Issuer Leverage Shares T-REX

Sets out to return +2x +2x

Underlying asset NVDA NVDA

Segment company company

Fund returned, 3 months or since launch +26.1% +24.6%

Underlying returned, over that window +15.7% +15.7%

What the stated multiple implies, over that window +31.4% +31.4%

Difference from stated, over that window −5.4 pts −6.8 pts

Fund returned, 1 year or since launch +16.9% +11.7%

Difference from stated, over that window −28.5 pts −33.7 pts

Underlying volatility 38% 38%

Difference over the days both have traded −5.4 pts −6.8 pts

Expense ratio 0.76% 1.05%

Launched Dec 13, 2024 Oct 19, 2023

Net assets $42m $479m

NVDG and NVDX 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.

NVDX in plain words

Three months to Sep 30, 2026: NVDX returned +24.6% where its own daily promise gave +29.2%, 4.6 points short. Read the multiple against the whole window instead and 2 times NVDA's 15.7% implies +31.4%, which makes NVDX look 6.8 points short. NVDX aims to return +2 times NVDA's move each day, then resets.

Questions people ask

Which came closer to its stated multiple, NVDG or NVDX?: Over the window to Sep 30, 2026, NVDG finished 5.4 points from what its multiple implies and NVDX finished 6.8 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 NVDX levered on the same thing?: Yes. Both are levered on NVIDIA, NVDG at +2 times and NVDX at +2 times the daily move.
Which one decays faster, NVDG or NVDX?: Decay follows how much the underlying moves about. Over this window NVDG’s moved at 38% annualized and NVDX’s at 38%, so NVDG has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold NVDG or NVDX 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.
Which is cheaper, NVDG or NVDX?: NVDG charges 0.76% a year and NVDX charges 1.05%, so NVDG is cheaper. Fees come from each fund's prospectus.

Other comparisons

NVDG vs NVDU NVDG vs NVC NVDG vs NVD NVDG vs NVDD NVDX vs NVC NVDX vs NVD NVDX vs NVDL NVDX vs NVDQ

NVDG on its own →NVDX on its own →How every figure is computed →Standards and sources →

Where these figures came from

NVDG filings on SEC EDGAR ↗NVDG prospectus with the expense ratio (SEC) ↗Leverage Shares website ↗NVDX filings on SEC EDGAR ↗NVDX prospectus with the expense ratio (SEC) ↗T-REX page for NVDX ↗

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.

Cite this page

ETFIQ, NVDG against NVDX, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/nvdg-vs-nvdx

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.