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Launched

T-REX 2X Inverse NVIDIA Daily Target ETF

NVDQCboeRexsharesBThis 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.

$10.15+0.27 (+2.68%)

At close: Nov 2, 2026, 4:00 PM ET

B64/ 100

Rank 19 of 58 in Single-Stock Inverse

B64/100Rank 19 of 58inSingle-Stock Inverse
Intraday session: up, 79 prints from 9.89 to 10.15. Range 9.45 to 10.18. Use the arrow keys to read each point.9.609.8010.0010 AM12 PM2 PM4 PM
Expense ratio
1.05%
Fund size
$17M
1Y total return
−34.8%
Yield · Last 12 months
0.44%
Holdings
2
Avg volume · 30D
5.51M sh
52W range
low $7.16high $20.57
Launched

The ETF.net NVDQ Grade

Based on 5 of 6 pillars

B

Score 64 out of 100

Category
Single-Stock Inverse⁠
Rank
19 of 58
Six-pillar profile for NVDQ. Scores out of 100: Cost 65, Risk 33, Mission 92, Tradability 50, Holdings not scored, Durability 58. Strongest: Mission (92). Weakest: Risk (33). Based on 5 of 6 pillars.

Score 64 of 100 falls in the B 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.
    B65 out of 100
    Rank 20 of 58

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A92 out of 100
    Rank 19 of 32

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    D33 out of 100
    Rank 44 of 54

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C50 out of 100
    Rank 25 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.
    B58 out of 100
    Rank 19 of 58

Our read on NVDQ

ETF.net Research

In short

BOne ticker, one bet: NVDQ aims to deliver 200% of the inverse of Nvidia's daily move, so a 1% slip in NVDA targets a 2% gain that day. T-REX built it as a day-trader's tool, and the math resets every session.

Stated mandate

The Fund seeks daily investment results, before fees and expenses, equal to 200% of the inverse of NVDA's daily performance. It is designed as a short-term trading vehicle and does not target results beyond a single trading day.

Why people hold it

  • Bearish on Nvidia without a margin account or borrowed shares: the fund targets 200% of the inverse of NVDA's one-day move inside a plain brokerage trade.rexshares.com
  • At 1.05% a year it sits at the cheaper end of the leveraged single-stock aisle, matching stablemate MSTZ and undercutting the typical inverse peer.
  • Day-to-day delivery has stayed close to the stated -2x target, one of the stronger implementations among inverse single-stock funds.
  • Running since 2023 and among the more actively traded names in this narrow corner of the market, which matters when the holding period is measured in hours.

Worth knowing

  • The leverage resets daily. Hold longer than a session and results can drift well away from -2x, and choppy back-and-forth in NVDA erodes value.
  • It cuts both ways: a 1% up day in NVDA targets roughly a 2% loss for the fund that day.
  • 1.05% is many times a broad index fund's fee, and the fund's own documents describe it as a short-term trading vehicle, not a long-hold position.rexshares.com

NVDQ Performance

Launched Oct 19, 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.
NVDQ$6,520
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. NVDQ $6,520. SPY $11,199. Use the arrow keys to read each point.$5,000$7,500$10,000$12,500Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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 NVDQ. Periods over one year show the average yearly return.
PeriodNVDQ
Year to date−41.1%
1 month+21.1%
3 months−12.7%
1 year−34.8%
3 yearsper year−82.4%
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 NVDQ
YearReturn barNVDQ
2026 YTD−41.1%
2025−74.6%
2024−93.8%

NVDQ in the news

NVDQ 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 Oct 30, 2026.
0.44%Last 12 months
Payout per share
$0.04Last 12 months
Last payment
$0.04 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2024–2026

One bar per payment. 2 payments from 2024 to 2026 YTD. Dec 24, 2024 $3.05; Dec 24, 2025 $0.04. Use the arrow keys to read each point.202420252026YTD
Ex-datePay dateAmount per share
Dec 24, 2025Dec 26, 2025$0.04
Dec 24, 2024Dec 26, 2024$3.05
Dec 26, 2023Dec 28, 2023No data

$10,000 in NVDQ 3 years ago paid $19.97 in dividends.

NVDQ Risk

Risk pillarD33 out of 100Rank 44 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.
60.6%
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.
−2.40
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.
−99.6%
36 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.
−2.94
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.

NVDQ Cost

Compare NVDQ and SKHZ

Overpaying vs SKHZ, cheapest in Single-Stock Inverse

$5,013

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

  • NVDQ 1.05%

    $19,495

  • SKHZ 0.75% Cheapest

    $14,482

$10,000
30 years

Cost over time

  • NVDQ 1.05%
  • 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$20K051015202530NVDQ $19,495SKHZ $14,482

Year by year

YearNVDQSKHZOverpaying
10$1,847$1,336$511
20$6,927$5,078$1,849
30$19,495$14,482$5,013

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