# NVDL (GraniteShares 2x Long NVDA Daily ETF)

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

Three months to Sep 30, 2026: NVDL returned +26.0% where its own daily promise gave +29.2%, 3.2 points short.

## Key facts

- NVDL, what NVDA did: +15.7%, as of Sep 30, 2026.
- NVDL, what 2 times a day gives: +29.2%, as of Sep 30, 2026.
- NVDL, what the fund returned: +26.0%, as of Sep 30, 2026.
- NVDL, the fund itself cost: −3.2 pts, as of Sep 30, 2026.
- NVDL, net assets: $3.8bn (issuer page, as of Sep 30, 2026).
- NVDL, expense ratio: 1.05% (485BPOS XBRL, Oct 24, 2025).

## NVDL over each window to Sep 30, 2026

| Window | Fund | NVDA | +2x the move | Difference | NVDA moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +5.6% | +3.6% | +7.1% | −1.5 pts | 26% |
| 3 months | +26.0% | +15.7% | +31.4% | −5.5 pts | 38% |
| 6 months | +49.4% | +30.2% | +60.5% | −11.1 pts | 39% |
| 1 year | +17.6% | +22.7% | +45.4% | −27.8 pts | 38% |
| 3 years | +766.9% | +426.6% | not meaningful over this window | not meaningful over this window | 47% |
| Since launch | +2711.9% | +1168.0% | not meaningful over this window | not meaningful over this window | 48% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of NVDA, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +1.65 times, against +2 stated | ETFIQ |
| Underlying | NVDA | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $3.8bn | issuer page, as of Sep 30, 2026 |
| Expense ratio | 1.05% | 485BPOS XBRL, Oct 24, 2025 |
| Launched | Dec 13, 2022 | ETFIQ |
| Underlying volatility over the window | 38% annualized | ETFIQ |

## Questions

### Did NVDL return +2 times NVDA?

Over the window to Sep 30, 2026, NVDA moved +15.7% and NVDL returned +26.0%. 2 times that move is +31.4%, so the fund came out 5.5 points short of it.

### Why does NVDL not return +2 times over a year?

Because it resets daily. NVDL aims at +2 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 +2 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.

### Which +2x NVDA ETF tracked its stated multiple most closely?

5 issuers sell one. Over the days all of them have been trading, the table on this page ranks them by how far each finished from 2 times the underlying's move. ETFIQ does not rate funds; the order is the figure itself.


## Cite this page

ETFIQ, NVDL, data as of Sep 30, 2026. https://etfiq.com/funds/nvdl
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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