Which came closer to its stated multiple, NVDQ or NVDS?

Over the window to Sep 30, 2026, NVDQ finished 1.6 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 NVDQ and NVDS levered on the same thing?

Yes. Both are levered on NVIDIA, NVDQ at -2 times and NVDS at -1.5 times the daily move.

Which one decays faster, NVDQ or NVDS?

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

Can I hold NVDQ 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.

Which is cheaper, NVDQ or NVDS?

NVDQ charges 1.05% a year and NVDS charges 1.15%, so NVDQ is cheaper. Fees come from each fund's prospectus.

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NVDQ vs NVDS: which held to its multiple?

Over three months against its own daily promise, NVDQ finished 0.2 points over and NVDS 1.4 points over. T-REX 2X INVERSE NVIDIA DAILY TARGET ETF and Tradr 1.5X Short NVDA Daily ETF.

−33.0%

NVDQ returned, 3 months

−23.7%

NVDS returned, 3 months

−1.6 pts

NVDQ from its stated multiple

−0.1 pts

NVDS from its stated multiple

NVDQ · 3 months to Sep 30, 20261.6 pts short of its stated multiple

NVDQ returned −33.0% while −2 times NVDA's move would have been −31.4%

NVDS · 3 months to Sep 30, 2026On its stated multiple

NVDS returned −23.7% while −1.5 times NVDA's move would have been −23.6%

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

NVDQ 20.4

NVDS 39.2

0.4, the lowest in this set99.6, the highest

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	NVDQ	NVDS	NVDQ	NVDS	NVDQ	NVDS
1 month	−8.0%	−5.3%	−7.1%	−5.3%	−0.9 pts	0.0 pts
3 months	−33.0%	−23.7%	−31.4%	−23.6%	−1.6 pts	−0.1 pts
6 months	−52.7%	−39.5%	−60.5%	−45.4%	+7.8 pts	+5.9 pts
1 year	−55.5%	−39.0%	−45.4%	−34.0%	−10.2 pts	−4.9 pts
3 years	not published	−95.5%	not published	not meaningful	not published	not meaningful
Since launch NVDQ Oct 2023 · NVDS Jul 2022	−99.5%	−99.2%	not meaningful	not meaningful	not meaningful	not meaningful

NVDQ 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

NVDQ

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

NVDS

Tradr 1.5X Short NVDA Daily ETF · Aims to return 1.5 times the opposite of the daily move of NVIDIA (NVDA)

Issuer T-REX Tradr

Sets out to return -2x -1.5x

Underlying asset NVDA NVDA

Segment company company

Fund returned, 3 months or since launch −33.0% −23.7%

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

What the stated multiple implies, over that window −31.4% −23.6%

Difference from stated, over that window −1.6 pts −0.1 pts

Fund returned, 1 year or since launch −55.5% −39.0%

Difference from stated, over that window −10.2 pts −4.9 pts

Underlying volatility 38% 38%

Difference over the days both have traded −1.6 pts no shared window

Expense ratio 1.05% 1.15%

Launched Oct 19, 2023 Jul 14, 2022

Net assets $17m $11m

NVDQ and NVDS on the same fields, as of Sep 30, 2026. Source: ETFIQ.

NVDQ in plain words

Three months to Sep 30, 2026: NVDQ returned −33.0% where its own daily promise gave −33.3%, 0.2 points over. Read the multiple against the whole window instead and −2 times NVDA's 15.7% implies −31.4%, which makes NVDQ look 1.6 points short. 1.8 of that is daily compounding, which happens to any −2 times fund over the same path, and the rest is the fund. NVDQ 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.

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, NVDQ or NVDS?: Over the window to Sep 30, 2026, NVDQ finished 1.6 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 NVDQ and NVDS levered on the same thing?: Yes. Both are levered on NVIDIA, NVDQ at -2 times and NVDS at -1.5 times the daily move.
Which one decays faster, NVDQ or NVDS?: Decay follows how much the underlying moves about. Over this window NVDQ’s moved at 38% annualized and NVDS’s at 38%, so NVDQ has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold NVDQ 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.
Which is cheaper, NVDQ or NVDS?: NVDQ charges 1.05% a year and NVDS charges 1.15%, so NVDQ is cheaper. Fees come from each fund's prospectus.

Other comparisons

NVDQ vs NVC NVDQ vs NVD NVDQ vs NVDD NVDQ vs NVDU NVDS vs NVDD NVDS vs NVDU NVDS vs NVC NVDS vs NVD

NVDQ on its own →NVDS on its own →How every figure is computed →Standards and sources →

Where these figures came from

NVDQ filings on SEC EDGAR ↗NVDQ prospectus with the expense ratio (SEC) ↗T-REX page for NVDQ ↗NVDS filings on SEC EDGAR ↗NVDS prospectus with the expense ratio (SEC) ↗Tradr website ↗

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, NVDQ against NVDS, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/nvdq-vs-nvds

Open data

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