NVDL vs NVDW

NVDLCGraniteShares 2x Long NVDA Daily ETF

NVDWBRoundhill NVDA WeeklyPay ETF

In short

NVDL Started life in 2022 as a 1.5x NVDA tracker, then GraniteShares turned the dial up to 200% of NVDA's daily move. Now a multi-billion-dollar fund that trades heavily every session.

NVDW The other leveraged NVDA funds reset daily at 2x. NVDW takes a milder 1.2x, resets at the end of each calendar week, and makes paying weekly distributions its primary stated objective.

Stated mandate

NVDL The Fund seeks daily investment results equal to 200% of NVIDIA Corporation’s daily stock-price performance before fees and expenses. It uses swaps, options, and direct stock investments and rebalances daily to maintain approximately 200% exposure.

NVDW The Fund seeks to provide weekly distributions and calendar-week returns equal to 1.2 times the calendar-week total return of Nvidia common shares, before fees and expenses.

Why people hold it

• NVDL The mandate is blunt: 200% of NVDA's daily move, rebalanced every day, using swaps, options and the stock itself. No index, no basket, no wondering what you own.graniteshares.com
• It has stayed close to that 2x daily target, and it is one of the more actively traded names in the leveraged NVDA group, which tends to keep spreads tight.
• GraniteShares has run this fund since December 2022 and rewrote the mandate from 1.5x to 2x in 2024. Real track record on a product type that often folds young.sec.govsec.gov 2

• NVDW Where the 2x NVDA crowd resets daily, NVDW resets exposure to roughly 1.2x at the last close of each calendar week, so the compounding math works week to week.sec.gov
• Mild leverage by category standards: a calendar-week move about 20% bigger than NVDA's, up or down, before fees. It has stayed close to that stated target.roundhillinvestments.com
• Paying weekly distributions is the fund's primary objective in the prospectus; the 1.2x NVDA exposure is the secondary one. Income cadence first, amplification second.sec.gov
• At 1.00%, the fee sits near the median of the eight leveraged NVDA funds we grade, between NVDB's 0.95% (net of a waiver through September 30, 2027) and NVDL's 1.05%.

Worth knowing

• NVDL The daily reset compounds. Hold longer than a session and your result depends on NVDA's path, not just its endpoint; chop can grind value even if the stock round-trips.graniteshares.com
• At 1.05% a year the fee sits at the middle of the 2x NVDA pack. Direxion's NVDU carries a lower 0.92% on the same exposure.
• One stock, doubled. There is no diversification cushion here, so NVDA's earnings gaps and AI-cycle headlines land at twice the size, in both directions.

• NVDW Roundhill notes distributions can exceed the fund's income and gains; the excess is treated as return of capital, which lowers your cost basis rather than adding to it.roundhillinvestments.com
• The 1.2x target applies to a calendar week only. Hold across multiple weeks and your result can drift from 1.2x NVDA's move over that stretch.sec.gov
• Leverage on one stock cuts both ways: the prospectus states the full principal value can be lost within a single week, and the fund launched in 2025, so its record is short.sec.gov

Full NVDL profile⁠

Full NVDW profile⁠