GraniteShares 2x Short NVDA Daily ETF
AThis fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.
$3.61−0.06 (−1.63%)
- 1.35%
- $60M
- −54.1%
- 23.04%
- 74.6M sh
- $3.68
- low $3.19high $9.76
The ETF.net NVD Grade
A
Score 72 out of 100
- 17 of 58
Score 72 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.B56 out of 100Rank 26 of 58Mission
Whether the fund did what it promised, tested against its stated mandate.A97 out of 100Rank 10 of 32Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.D35 out of 100Rank 39 of 52Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A99 out of 100Rank 1 of 58Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A76 out of 100Rank 2 of 58
Our read on NVD
AThe original two-for-one bear trade on NVIDIA. NVD aims for -2x NVDA's move each day, then resets at the close, and it changes hands constantly. Built for single sessions, not long holds.
The fund seeks daily investment results, before fees and expenses, equal to -2 times the daily percentage change in NVIDIA Corp. (NASDAQ: NVDA).
Why people hold it
- Out first: NVD listed in August 2023, roughly two months before the rival T-REX 2x inverse NVDA fund (NVDQ) began operations.sec.gov
- It has stayed close to its stated -2x daily objective, and it sits in the upper half of its inverse single-stock peer group.
- One of the most actively traded funds in its category, which generally shows up as tight spreads and easy fills intraday.
- A plain 1940 Act ETF, so the short exposure sits in a normal brokerage account, no margin agreement or share borrow to arrange.sec.gov
Worth knowing
- Daily reset math: hold longer than a day and results can drift well away from -2x NVDA's move, with choppy stretches grinding hardest.sec.gov
- 1.35% a year runs a touch above the typical inverse single-stock fund, a real drag on a position held for more than a few sessions.
- Single-name risk, doubled and flipped. Every NVIDIA earnings gap or AI headline hits this fund at twice the size, and a rally cuts against it.
NVD Holdings
- Other
- 1
- 200%
- NVDA
Sectors
- Technology100.0%
Geography
- United States100.00%
NVD Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.
NVD$4,590
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | NVD |
|---|---|
| Year to date | −48.7% |
| 1 month | −8.0% |
| 3 months | −21.1% |
| 1 year | −54.1% |
| 3 years | −79.6% |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | NVD |
|---|---|---|
| 2026 YTD | −48.7% | |
| 2025 | −73.3% | |
| 2024 | −93.1% | |
| 2023 | −15.3% |
NVD in the news
NVD Dividends
- 23.04%
- $0.85
- $0.85 per share
- Annual
Distribution history
NVD Risk
This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.
- 57.8%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −2.39
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −99.4%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- −2.90
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
NVD Cost
1.35%
NVD1.35%
- The middle half of Single-Stock Inverse funds
- Median 1.35%
21 of the 43 Single-Stock Inverse funds charge less.
Other funds in Single-Stock Inverse
- AMETDDirexion Daily META Bear 1X ETFExpense ratio 1.19%1 year return −15.3%
- ANVDQT-REX 2X Inverse NVIDIA Daily Target ETFExpense ratio 1.05%1 year return −56.0%
- BPLTZDaily Target 2X Short PLTR ETFExpense ratio 1.31%1 year return −79.0%
- BNVDSTradr 1.5X Short NVDA Daily ETFExpense ratio 1.45%1 year return −39.7%
- BSMSTDefiance Daily Target 2x Short MSTR ETFExpense ratio 1.38%1 year return −58.0%