NVDS -1.5x Investment Managers Series Trust II Tradr 1.5X Short NVDA Daily ETF
BEAR ETF mild · Issuer Tradr · Tracks NVDA · Listed 2022-07-13
Realized vs theoretical -1.5x NVDA
Cumulative return of NVDS against a clean -1.5x of NVDA's return over the same window; the red line (right axis) is the gap between them.
Other leveraged products on NVDA
6| Symbol | Factor | Direction | Issuer | Name | Implied AUM | 30d volume | Options |
|---|---|---|---|---|---|---|---|
| NVDL | +2x | BULL | GraniteShares | GraniteShares ETF Trust GraniteShares 2x Long NVDA Daily ETF | $3.8B | 13,481,637 | ✓ |
| NVDU | +2x | BULL | Direxion | Direxion Shares ETF Trust Direxion Daily NVDA Bull 2X ETF | $551.4M | 315,860 | ✓ |
| NVDX | +2x | BULL | T-Rex | T-Rex 2X Long NVIDIA Daily Target ETF | $499.1M | 5,366,896 | ✓ |
| NVDG | +2x | BULL | Leverage Shares | Leverage Shares 2X Long NVDA Daily ETF | $43.4M | 228,781 | ✓ |
| NVD | -2x | BEAR | GraniteShares | GraniteShares ETF Trust GraniteShares 2x Short NVDA Daily ETF | $54.1M | 87,516,565 | ✓ |
| NVDQ | -2x | BEAR | T-Rex | T-Rex 2X Inverse NVIDIA Daily Target ETF | $18.5M | 6,514,503 | ✓ |
How NVDS works
NVDS targets -1.5x the daily return of NVDA — not the return over longer windows. It rebalances every day, so over weeks and months its result drifts away from -1.5x × the index, usually downward when the market chops around.
The maths: the drag is roughly −½ × N × (N−1) × σ² per period (N = leverage, σ = the index's volatility). For a -1.5x fund on an index with 25% annual volatility that is several percent a year before fees — the red line above is that drag measured.
Short-term trades (a day or a few) are what these funds are built for. Premium sellers like their rich option IV — see the quote page. Multi-day directional bets work in strong trends and get eaten in chop.
Not investment advice.