# NVDD (Direxion Daily NVDA Bear 1X ETF)

Direxion · Leveraged ETFs · data as of Sep 30, 2026

Three months to Sep 30, 2026: NVDD returned −15.1% where its own daily promise gave −16.7%, 1.6 points over.

## Key facts

- NVDD, what NVDA did: +15.7%, as of Sep 30, 2026.
- NVDD, what −1 times a day gives: −16.7%, as of Sep 30, 2026.
- NVDD, what the fund returned: −15.1%, as of Sep 30, 2026.
- NVDD, the fund itself added: +1.6 pts, as of Sep 30, 2026.
- NVDD, net assets: $15m (issuer page, as of Sep 30, 2026).
- NVDD, expense ratio: 1.01% (485BPOS XBRL, Feb 26, 2026).

## NVDD over each window to Sep 30, 2026

| Window | Fund | NVDA | -1x the move | Difference | NVDA moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −3.2% | +3.6% | −3.6% | +0.3 pts | 26% |
| 3 months | −15.1% | +15.7% | −15.7% | +0.6 pts | 38% |
| 6 months | −26.0% | +30.2% | −30.2% | +4.2 pts | 39% |
| 1 year | −23.5% | +22.7% | −22.7% | −0.8 pts | 38% |
| 3 years | −87.5% | +426.6% | not meaningful over this window | not meaningful over this window | 47% |
| Since launch | −86.9% | +403.6% | 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 | -0.96 times, against -1 stated | ETFIQ |
| Underlying | NVDA | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $15m | issuer page, as of Sep 30, 2026 |
| Expense ratio | 1.01% | 485BPOS XBRL, Feb 26, 2026 |
| Launched | Sep 13, 2023 | ETFIQ |
| Underlying volatility over the window | 38% annualized | ETFIQ |

## Questions

### Did NVDD return -1 times NVDA?

Over the window to Sep 30, 2026, NVDA moved +15.7% and NVDD returned −15.1%. −1 times that move is −15.7%, so the fund came out 0.6 points ahead 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 30, 2026. https://etfiq.com/funds/nvdd
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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