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Launched · SEC filings

Direxion Daily NVDA Bear 1X ETF

NVDDNasdaqDirexionAThis 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.

$38.34+2.02 (+5.58%)

As of Nov 10, 2026, 11:20 AM ET

A71/ 100

Rank 10 of 58 in Single-Stock Inverse

A71/100Rank 10 of 58inSingle-Stock Inverse
Intraday session: up, 23 prints from 36.31 to 38.34. Range 37.30 to 38.51. Use the arrow keys to read each point.37.0037.5038.0010 AM12 PM2 PM4 PM
Expense ratio
1.01%
Fund size
$21M
1Y total return
−2.0%
Yield · Last 12 months
3.75%
Holdings
4
Avg volume · 30D
194K sh
52W range
low $27.01high $42.78
Launched
Filings
SEC EDGAR

The ETF.net NVDD Grade

Based on 5 of 6 pillars

A

Score 71 out of 100

Category
Single-Stock Inverse⁠
Rank
10 of 58
Six-pillar profile for NVDD. Scores out of 100: Cost 78, Risk 58, Mission 90, Tradability 38, Holdings not scored, Durability 74. Strongest: Mission (90). Weakest: Tradability (38). Based on 5 of 6 pillars.

Score 71 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.
    A78 out of 100
    Rank 10 of 58

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A90 out of 100
    Rank 21 of 32

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B58 out of 100
    Rank 15 of 54

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D38 out of 100
    Rank 39 of 58

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A74 out of 100
    Rank 4 of 58

Our read on NVDD

ETF.net Research

In short

AA straight one-for-one short on NVIDIA that resets every trading day: no 2x amplifier, no margin account, no hunting for borrowable shares. It also undercuts the other inverse-NVDA ETF on fees.

Stated mandate

The fund seeks daily investment results, before fees and expenses, equal to 100% of the inverse performance of NVIDIA Corporation common shares.

Why people hold it

  • 1.01% a year, cheaper than the typical inverse single-stock fund and a full step below NVDS, the other ETF aimed at inverse NVDA.
  • The mandate is -1x, not -2x. Daily compounding still shapes results, but single-strength inverse drifts less than the double-short bears beside it, like MSTZ and TSDD.
  • Hits its stated daily target about as tightly as anything in the inverse single-stock group, with a live track record since its 2023 launch.
  • It trades like any other ETF ticker rather than a short sale, so there is no margin-call machinery and no exposure beyond what you put in.

Worth knowing

  • The -1x applies to one day at a time. Hold through a choppy stretch and the result can diverge meaningfully from the inverse of NVDA's move over that stretch.
  • One stock, one story. Earnings night, a supply headline, a rival's chip: NVIDIA news drives the entire position, with nothing else to cushion it.
  • A small fund with moderate trading activity, so spreads and execution costs can stack on top of the 1.01% fee.

NVDD Performance

Launched Sep 13, 2023

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.
NVDD$9,801
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,339
Nov 7, 2025 to Nov 9, 2026. NVDD $9,801. SPY $11,339. Use the arrow keys to read each point.$8,000$10,000$12,000Nov 2025May 2026Nov 2026

Nov 7, 2025 – Nov 9, 2026

Returns run to the Nov 9, 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.

Trailing total return for NVDD. Periods over one year show the average yearly return.
PeriodNVDD
Year to date−2.3%
1 month+26.7%
3 months+22.6%
1 year−2.0%
3 yearsper year−45.6%
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for NVDD
YearReturn barNVDD
2026 YTD−2.3%
2025−40.0%
2024−70.7%
2023−9.8%

Since listing, Sep 13, 2023

NVDD in the news

NVDD Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Nov 9, 2026.
3.75%Last 12 months
Payout per share
$1.36Last 12 months
Last payment
$0.49 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2023–2026

One bar per payment. 13 payments from 2023 to 2026 YTD. Dec 8, 2023 $0.03; Dec 21, 2023 $0.26; Mar 19, 2024 $0.12; Jun 25, 2024 $0.05; Sep 24, 2024 $0.07; Dec 23, 2024 $0.08; Mar 25, 2025 $0.05; Jun 24, 2025 $0.04; Sep 23, 2025 $0.04; Dec 23, 2025 $0.34; Mar 24, 2026 $0.26; Jun 23, 2026 $0.28; Sep 22, 2026 $0.49. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Sep 22, 2026Sep 29, 2026$0.49
Jun 23, 2026Jun 30, 2026$0.28
Mar 24, 2026Mar 31, 2026$0.26
Dec 23, 2025Dec 31, 2025$0.34
Sep 23, 2025Sep 30, 2025$0.04
Jun 24, 2025Jul 1, 2025$0.04
Mar 25, 2025Apr 1, 2025$0.05
Dec 23, 2024Dec 31, 2024$0.08
Sep 24, 2024Oct 1, 2024$0.07
Jun 25, 2024Jul 2, 2024$0.05
Mar 19, 2024Mar 26, 2024$0.12
Dec 21, 2023Dec 29, 2023$0.26

See all 13 payments⁠

$10,000 in NVDD 3 years ago paid $91.42 in dividends.⁠

NVDD Risk

Risk pillarB58 out of 100Rank 15 of 54 in Single-Stock Inverse

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.

How much the fund’s monthly returns vary, scaled to a year.
32.7%
Annualised · 36 months to Oct 2026
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.

Return above 3-month US Treasury bills per unit of volatility.
−2.03
vs 3-month T-bills · to Oct 2026
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.

The largest fall from a peak to the low that followed.
−89.6%
37 months · trough Oct 2026
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.

How strongly the fund’s returns move with its asset-class index.
−1.72
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

NVDD Cost

Compare NVDD and SKHZ

Overpaying vs SKHZ, cheapest in Single-Stock Inverse

$4,368

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • NVDD 1.01%

    $18,850

  • SKHZ 0.75% Cheapest

    $14,482

$10,000
30 years

Cost over time

  • NVDD 1.01%
  • SKHZ 0.75%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530NVDD $18,850SKHZ $14,482

Year by year

YearNVDDSKHZOverpaying
10$1,780$1,336$444
20$6,686$5,078$1,608
30$18,850$14,482$4,368

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