NVDS vs NVDU: which held to its multiple?
Over three months against its own daily promise, NVDS finished 1.4 points over and NVDU 2.9 points short. Tradr 1.5X Short NVDA Daily ETF and Direxion Daily NVDA Bull 2X ETF.
NVDS returned −23.7% while −1.5 times NVDA's move would have been −23.6%
NVDU returned +26.3% while 2 times NVDA's move would have been +31.4%
NVDS among the 125 inverse ETFs over three months
NVDU among the 470 leveraged ETFs, long, over three months
A percentile among the 125 inverse ETFs over three months. NVDU 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 | NVDS | NVDU | NVDS | NVDU | NVDS | NVDU |
| 1 month | −5.3% | +5.7% | −5.3% | +7.1% | 0.0 pts | −1.4 pts |
| 3 months | −23.7% | +26.3% | −23.6% | +31.4% | −0.1 pts | −5.2 pts |
| 6 months | −39.5% | +50.1% | −45.4% | +60.5% | +5.9 pts | −10.3 pts |
| 1 year | −39.0% | +17.9% | −34.0% | +45.4% | −4.9 pts | −27.5 pts |
| 3 years | −95.5% | +674.6% | not meaningful | not meaningful | not meaningful | not meaningful |
| Since launch NVDS Jul 2022 · NVDU Sep 2023 | −99.2% | +621.0% | not meaningful | not meaningful | not meaningful | not meaningful |
NVDS and NVDU over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
NVDS and NVDU on the same fields, as of Sep 30, 2026. Source: ETFIQ.
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 one day it does that. 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. 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.
NVDU in plain words
Three months to Sep 30, 2026: NVDU returned +26.3% where its own daily promise gave +29.2%, 2.9 points short. Read the multiple against the whole window instead and 2 times NVDA's 15.7% implies +31.4%, which makes NVDU look 5.2 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. NVDU 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, NVDS or NVDU?
- Over the window to Sep 30, 2026, NVDS finished 0.1 points from what its multiple implies and NVDU finished 5.2 points from its own, so NVDS came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are NVDS and NVDU levered on the same thing?
- Yes. Both are levered on NVIDIA, NVDS at -1.5 times and NVDU at +2 times the daily move.
- Which one decays faster, NVDS or NVDU?
- Decay follows how much the underlying moves about. Over this window NVDS’s moved at 38% annualized and NVDU’s at 38%, so NVDS has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold NVDS or NVDU 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, NVDS against NVDU, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/nvds-vs-nvdu
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, NVDS against NVDU, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/nvds-vs-nvdu Free to use with attribution; the underlying files are at Open data.
Other forms
- Plain
- ETFIQ, NVDS against NVDU, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/nvds-vs-nvdu
- APA
- ETFIQ. (Sep 30, 2026). NVDS against NVDU. Retrieved from https://etfiq.com/compare/leverage/nvds-vs-nvdu
- Markdown
- [NVDS against NVDU (ETFIQ, Sep 30, 2026)](https://etfiq.com/compare/leverage/nvds-vs-nvdu)