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

Over the window to Sep 30, 2026, NVDU finished 5.2 points from what its multiple implies and NVDX finished 6.8 points from its own, so NVDU came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are NVDU and NVDX levered on the same thing?

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

Which one decays faster, NVDU or NVDX?

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

Can I hold NVDU 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, NVDU or NVDX?

NVDU charges 0.92% a year and NVDX charges 1.05%, so NVDU is cheaper. Fees come from each fund's prospectus.

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NVDU vs NVDX: which held to its multiple?

Over the days both have traded, NVDU finished 5.2 points from its stated multiple and NVDX 6.8. Direxion Daily NVDA Bull 2X ETF and T-REX 2X LONG NVIDIA DAILY TARGET ETF.

+26.3%

NVDU returned, 3 months

+24.6%

NVDX returned, 3 months

−5.2 pts

NVDU from its stated multiple

−6.8 pts

NVDX from its stated multiple

NVDU · 3 months to Sep 30, 20265.2 pts short of its stated multiple

NVDU returned +26.3% 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 · NVDU scores higherDid it keep up with its own daily multiple, compounded day by day?

NVDU 43.2

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	NVDU	NVDX	NVDU	NVDX	NVDU	NVDX
1 month	+5.7%	+5.8%	+7.1%	+7.1%	−1.4 pts	−1.3 pts
3 months	+26.3%	+24.6%	+31.4%	+31.4%	−5.2 pts	−6.8 pts
6 months	+50.1%	+46.1%	+60.5%	+60.5%	−10.3 pts	−14.4 pts
1 year	+17.9%	+11.7%	+45.4%	+45.4%	−27.5 pts	−33.7 pts
3 years	+674.6%	not published	not meaningful	not published	not meaningful	not published
Since launch NVDU Sep 2023 · NVDX Oct 2023	+621.0%	+877.3%	not meaningful	not meaningful	not meaningful	not meaningful

NVDU 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

NVDU

Direxion Daily NVDA Bull 2X 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 Direxion T-REX

Sets out to return +2x +2x

Underlying asset NVDA NVDA

Segment company company

Fund returned, 3 months or since launch +26.3% +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 −5.2 pts −6.8 pts

Fund returned, 1 year or since launch +17.9% +11.7%

Difference from stated, over that window −27.5 pts −33.7 pts

Underlying volatility 38% 38%

Difference over the days both have traded −5.2 pts −6.8 pts

Expense ratio 0.92% 1.05%

Launched Sep 13, 2023 Oct 19, 2023

Net assets $532m $479m

NVDU and NVDX on the same fields, as of Sep 30, 2026. Source: ETFIQ.

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 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, NVDU or NVDX?: Over the window to Sep 30, 2026, NVDU finished 5.2 points from what its multiple implies and NVDX finished 6.8 points from its own, so NVDU came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are NVDU and NVDX levered on the same thing?: Yes. Both are levered on NVIDIA, NVDU at +2 times and NVDX at +2 times the daily move.
Which one decays faster, NVDU or NVDX?: Decay follows how much the underlying moves about. Over this window NVDU’s moved at 38% annualized and NVDX’s at 38%, so NVDU has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold NVDU 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, NVDU or NVDX?: NVDU charges 0.92% a year and NVDX charges 1.05%, so NVDU is cheaper. Fees come from each fund's prospectus.

Other comparisons

NVDU vs NVC NVDU vs NVD NVDU vs NVDD NVDU vs NVDG NVDX vs NVDS NVDX vs NVC NVDX vs NVD NVDX vs NVDD

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

Where these figures came from

NVDU filings on SEC EDGAR ↗NVDU prospectus with the expense ratio (SEC) ↗Direxion 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, NVDU against NVDX, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/nvdu-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.