GraniteShares 1.5x Short NVDA Daily ETF (NVD) Performance
NVD total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −41.4% since Dec 31, 2025
- 1 year
- −47.7% total return
- 3 years
- −79.5% a year
- Since first price
- −77.2% a year since 2023
NVD trailing returns vs SPY, QQQ, AGG
| Period | NVD total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +12.6% | +12.6% | −1.0% | −5.0% | +0.9% |
| 3 months | −10.5% | −10.5% | +3.2% | +1.9% | −0.4% |
| 6 months | −26.7% | −26.7% | +7.8% | +8.4% | −1.5% |
| YTD | −41.4% | −41.4% | +12.3% | +15.1% | −1.0% |
| 1 year | −47.7% | −53.4% | +14.4% | +15.9% | −1.1% |
| 3 years | −99.1%−79.5%/yr | −99.4% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionAug 22, 2023 | −99.1%−77.2%/yr | −99.4% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: NVD vs SPY
From Aug 22, 2023: NVD grew to $92, SPY to $18,049.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
NVD returns by calendar year
0 of 2 full years positive. Best 2025 (−73.3%), worst 2024 (−93.1%). 2026 is year to date.
NVD annual returns table
| Year | NVD | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −41.4% | −61.3% | +12.3% | +15.1% | −1.0% |
| 2025 | −73.3% | −84.5% | +17.7% | +20.8% | +7.2% |
| 2024 | −93.1% | −94.5% | +24.9% | +25.6% | +1.3% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
NVD largest drawdowns
Now 99.2% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Oct 26, 2023 | −99.4% | Oct 6, 2026 | not yet | 2.9 years | 3.0 years so far |
| Sep 21, 2023 | −18.5% | Oct 11, 2023 | Oct 26, 2023 | 20 days | 35 days |
| Aug 22, 2023 | −11.6% | Aug 31, 2023 | Sep 11, 2023 | 9 days | 20 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
NVD risk statistics
| Statistic | 3 years | Since 2023 |
|---|---|---|
| Annualized return | −80.4% | −78.3% |
| Volatility (annualized) | 57.8% | 59.7% |
| Sharpe ratio | -2.38 | -2.14 |
| Sortino ratio | -2.09 | -1.96 |
| Best month | +26.2% | +26.2% |
| Worst month | −47.7% | −47.7% |
| Best 12 months | −43.1% | −43.1% |
| Worst 12 months | −94.6% | −94.6% |
| Positive months | 28% | 30% |
| Beta vs S&P 500 | -2.91 | — |
| Correlation with S&P 500 | -0.63 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
NVD rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 27 | −94.6% | −76.2% | −34.4% | 0% |
| 3-year (a year) | 3 | −80.4% | −80.0% | −78.6% | 0% |
Every holding period starting at a month-end since 2023. Returns for 3 years and longer are annualized.
NVD performance overview
GraniteShares 1.5x Short NVDA Daily ETF (NVD) returned −47.7% over the past year, with distributions reinvested. Since its first recorded price in 2023 it has returned −77.2% a year, turning $10,000 into about $92. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −99.4%, from Oct 26, 2023 to Oct 6, 2026; the fund has not yet regained that high. Volatility has been 59.7% a year.
Related: NVD chart, NVD dividends. See the NVD overview for the latest quote and fund facts.
NVD performance FAQ
What is the NVD return over the past year?
NVD returned −47.7% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 53.4%.
How much would $10,000 invested in NVD be worth?
$10,000 invested in NVD at its first recorded close on August 22, 2023 would be worth about $92 on October 23, 2026 with distributions reinvested.
What was the worst year for NVD?
The worst calendar year was 2024, with a total return of −93.1%. The best was 2025 at −73.3%.
What is the biggest drawdown of NVD?
The largest peak-to-trough decline was −99.4% between October 26, 2023 and October 6, 2026. It has not yet recovered to that high; it is 99.2% below its peak.
How volatile is NVD?
Over the past 3 years NVD had an annualized volatility of 57.8% and a Sharpe ratio of -2.38 (excess return over 1–3 month T-bills per unit of risk).