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NVDX

GradeBChicago Board Options Exchange

T-REX 2X Long NVIDIA Daily Target ETF

Leveraged · Single-Stock Leveraged · Rexshares · Inception 2023-10-19

This 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.

$20.19−0.66 (−3.17%)

As of Sep 23, 2026, 3:10 PM EDT

History starts Oct 19, 2023.
Intraday session: down, 69 prints from 20.85 to 20.19. Range 19.96 to 20.81. Use the arrow keys to read each point.$20.00$20.40$20.60$20.8010 AM12 PM2 PM4 PM
Expense ratio
1.05%
Fund size
$501M
1Y return
+15.7%
Yield · Last 12 months
2.75%
Holdings
11
Volume · 30D
7.5M sh
NAV per share
$20.59
52W range
low $12.41high $24.72

The ETF.net NVDX Grade

B

56/ 100

Rank 5 of 8 in 2x Long Nvidia (NVDA)⁠

Confidence Medium

Six-pillar profile for NVDX. Scores out of 100: Cost 39, Risk 37, Mission 90, Tradability 55, Holdings not scored, Durability 61. Strongest: Mission (90). Weakest: Risk (37). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 56 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    DScore 39
    Category rank6/8 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 90
    Category rank2/6 · top 33%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    DScore 37
    Category rank8/8 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 55
    Category rank4/8 · top 50%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 61
    Category rank3/8 · top 38%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on NVDX

ETF.net Research

BFour ETFs now chase 200% of NVIDIA's daily move, so the differentiator is plumbing, not concept. NVDX resets every night, trades heavily, and prices at the middle of that pack. Built as a day-trading tool, by its own prospectus.

Stated mandate

The Fund seeks daily investment results, before fees and expenses, equal to 200% of NVIDIA's daily performance. It is designed as a short-term, daily-reset leveraged vehicle rather than a fund targeting that multiple over longer periods.

Why people hold it

  1. 01Does exactly what the label says: 200% of NVIDIA's daily return, before fees, and it has stuck closely to that daily target.
  2. 02One of the more actively traded funds in the leveraged NVIDIA group, which matters when your holding period is measured in hours.
  3. 031.05% expense ratio, dead center for 2x NVIDIA funds. You pay the going rate, not a premium.
  4. 04Live since October 2023, so it has traded through several full NVIDIA earnings cycles rather than launching into a quiet tape.

Worth knowing

  1. 01The 2x target applies to one day only. Hold longer and compounding takes over, so multi-day results can drift well away from twice NVIDIA's move.
  2. 02NVDU offers the same 2x daily NVIDIA exposure at 0.92%, a thinner fee for the identical mandate.
  3. 03Everything rides on one chip company, doubled. A single earnings call or supply headline sets the whole day.

NVDX Holdings

As of Sep 20, 2026, 9:04 AM
Asset class
Stocks
Holdings
11
Top-10 weight
342%
Largest holding
RECV NVDX TRS NVDA EQ263.4%

Sectors

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—RECV NVDX TRS NVDA EQ263.36%4,302,727$944M1
002—CASH AND CASH EQUIVALENTS78.38%280,876,465$281M120

Showing 1–2 of 2 holdings

NVDX Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

NVDX$11,568
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. NVDX $11,568. SPY $11,723. Use the arrow keys to read each point.$6,417$10,295$14,173Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 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 NVDX. Periods over one year show the average yearly return.
PeriodNVDX
Year to date+21.8%
1 month+10.8%
3 months+12.1%
1 year+15.7%
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, 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 NVDX
YearReturn barNVDX
2026 YTD+21.8%
2025+26.3%
2024+383.9%
2023+32.5%

Since listing, Oct 19, 2023

NVDX in the news

ETF.net Research hasn’t filed on NVDX yet — coverage lands here as it’s written.

NVDX 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 Sep 22, 2026.
2.75%Last 12 months
Payout per share
$0.57Last 12 months
Last payment
$0.57 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 $2.17; Dec 24, 2025 $0.57. Use the arrow keys to read each point.202420252026YTD
Ex-datePay dateAmount per share
Dec 24, 2025Dec 26, 2025$0.57
Dec 24, 2024Dec 26, 2024$2.17

NVDX 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.

How much the fund’s monthly returns vary, scaled to a year.
80.6%
Annualised · 34 months to Aug 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.
1.34
vs 3-month T-bills · 34 months to Aug 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.
−68.2%
35 months · trough Apr 2025
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.
4.18
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.

NVDX Cost

Expense ratio1.05%
  • The middle half of 2x Long Nvidia (NVDA) funds
  • Median 1.02%

4 of the 8 2x Long Nvidia (NVDA) funds charge less.

NVDX costs $105.00 a year on $10,000. The median 2x Long Nvidia (NVDA) fund costs $102.00.