# NVDD (Direxion Daily NVDA Bear 1X ETF)

Direxion · Leveraged ETFs · data as of Sep 11, 2026

Three months to Sep 11, 2026: NVDD returned −8.0% where its own daily promise gave −9.8%, 1.8 points over.

## Key facts

- NVDD, what NVDA did: +6.5%, as of Sep 11, 2026.
- NVDD, what −1 times a day gives: −9.8%, as of Sep 11, 2026.
- NVDD, what the fund returned: −8.0%, as of Sep 11, 2026.
- NVDD, the fund itself added: +1.8 pts, as of Sep 11, 2026.
- NVDD, net assets: $23m (source, as filed for Apr 30, 2026).
- NVDD, expense ratio: not read by ETFIQ, as of Sep 11, 2026.

## NVDD over each window to Sep 11, 2026

| Window | Fund | NVDA | -1x the move | Difference | NVDA moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +1.7% | −2.5% | +2.5% | −0.8 pts | 42% |
| 3 months | −8.0% | +6.5% | −6.5% | −1.5 pts | 40% |
| 6 months | −21.0% | +21.4% | −21.4% | +0.4 pts | 40% |
| 1 year | −24.0% | +23.5% | −23.5% | −0.5 pts | 38% |
| Since launch | −86.3% | +381.4% | not meaningful over this window | not meaningful over this window | 47% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -1 times the daily move of NVDA, reset daily | ETFIQ |
| Multiple a holder actually got over the window | -1.23 times, against -1 stated | ETFIQ |
| Underlying | NVDA | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $23m | source, as filed for Apr 30, 2026 |
| Expense ratio | not read by ETFIQ | ETFIQ |
| Launched | Sep 13, 2023 | ETFIQ |
| Underlying volatility over the window | 40% annualized | ETFIQ |

## Questions

### Did NVDD return -1 times NVDA?

Over the window to Sep 11, 2026, NVDA moved +6.5% and NVDD returned −8.0%. 1 times that move is −6.5%, so the fund came out 1.5 points short of it.

### Why does NVDD not return -1 times over a year?

Because it resets daily. NVDD aims at -1 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what -1 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.


## Cite this page

ETFIQ, NVDD, data as of Sep 11, 2026. https://etfiq.com/funds/NVDD
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

HTML: https://etfiq.com/funds/NVDD  ·  JSON: https://etfiq.com/funds/NVDD.json