NVDS -1.5x Investment Managers Series Trust II Tradr 1.5X Short NVDA Daily ETF
NVDS
ETF -1.5x BEAR mildInvestment Managers Series Trust II Tradr 1.5X Short NVDA Daily ETF
Realized return vs theoretical -1.5x NVDA
Other leveraged products tracking NVDA
| Symbol | Factor | Direction | Issuer | Name | Implied AUM | 30d Vol | Options |
|---|---|---|---|---|---|---|---|
| NVDL | +2x | BULL | GraniteShares | GraniteShares ETF Trust GraniteShares 2x Long NVDA Daily ETF | $3.58B | 15,369,684 | |
| NVDU | +2x | BULL | Direxion | Direxion Shares ETF Trust Direxion Daily NVDA Bull 2X ETF | $582.7M | 390,054 | |
| NVDX | +2x | BULL | T-Rex | T-Rex 2X Long NVIDIA Daily Target ETF | $447.0M | 7,139,090 | |
| NVDG | +2x | BULL | Leverage Shares | Leverage Shares 2X Long NVDA Daily ETF | $44.1M | 242,897 | |
| NVD | -2x | BEAR | GraniteShares | GraniteShares ETF Trust GraniteShares 2x Short NVDA Daily ETF | $58.2M | 65,435,953 | |
| NVDQ | -2x | BEAR | T-Rex | T-Rex 2X Inverse NVIDIA Daily Target ETF | $22.4M | 3,971,836 |
How NVDS works
NVDS targets -1.5x the daily return of NVDA — not the cumulative return over multi-day windows. The fund rebalances at the close each day using swaps or futures, which is what creates the volatility drag the chart above visualizes.
Mathematical headline: drag ≈ −0.5 × N × (N−1) × σ² per period. For a -1.5x product on an underlying with 25% annualized vol, expected annual drag is around 2.3%. Add expense ratio and the realized number is typically worse.
- Short-term tactical: daily and intraday holds are where these products were designed to live.
- Premium selling: options on NVDS carry very rich IV — see the quote page for IV rank and straddle pricing.
- Multi-day directional: works in strong trends; gets eaten alive in chop. Use the chart above to gauge the realized vs theoretical track record.