GraniteShares 2x Long NVDA Daily ETF (NVDL) Performance
NVDL total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +5.4% since Dec 31, 2025
- 1 year
- +5.3% total return
- 3 years
- +95.8% a year
- Since first price
- +127.0% a year since 2022
NVDL trailing returns vs SPY, QQQ, AGG
| Period | NVDL total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −14.0% | −14.0% | −1.0% | −5.0% | +0.9% |
| 3 months | −3.5% | −3.5% | +3.2% | +1.9% | −0.4% |
| 6 months | −1.6% | −1.6% | +7.8% | +8.4% | −1.5% |
| YTD | +5.4% | +5.4% | +12.3% | +15.1% | −1.0% |
| 1 year | +5.3% | +5.3% | +14.4% | +15.9% | −1.1% |
| 3 years | +650.7%+95.8%/yr | +574.1% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionDec 13, 2022 | +2,268.8%+127.0%/yr | +2,027.0% | — | — | — |
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: NVDL vs SPY
From Dec 13, 2022: NVDL grew to $236,876, SPY to $19,913.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
NVDL returns by calendar year
3 of 3 full years positive. Best 2023 (+432.2%), worst 2025 (+32.6%). 2026 is year to date.
NVDL annual returns table
| Year | NVDL | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +5.4% | −38.4% | +12.3% | +15.1% | −1.0% |
| 2025 | +32.6% | −66.2% | +17.7% | +20.8% | +7.2% |
| 2024 | +344.6% | −51.4% | +24.9% | +25.6% | +1.3% |
| 2023 | +432.2% | −28.0% | +26.2% | +54.9% | +5.7% |
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.
NVDL largest drawdowns
Now 28.1% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jun 18, 2024 | −67.6% | Apr 4, 2025 | Jul 28, 2025 | 10 months | 1.1 years |
| Oct 29, 2025 | −42.2% | Mar 30, 2026 | May 12, 2026 | 5 months | 6 months |
| May 14, 2026 | −38.4% | Jul 29, 2026 | not yet | 2 months | 5 months so far |
| Mar 25, 2024 | −37.8% | Apr 19, 2024 | May 23, 2024 | 25 days | 59 days |
| Dec 13, 2022 | −32.3% | Dec 28, 2022 | Jan 23, 2023 | 15 days | 41 days |
| Aug 31, 2023 | −28.0% | Oct 26, 2023 | Nov 20, 2023 | 56 days | 3 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
NVDL risk statistics
| Statistic | 3 years | Since 2022 |
|---|---|---|
| Annualized return | +105.5% | +166.1% |
| Volatility (annualized) | 76.3% | 78.5% |
| Sharpe ratio | 1.25 | 1.58 |
| Sortino ratio | 2.88 | 4.00 |
| Best month | +59.1% | +59.1% |
| Worst month | −27.3% | −27.3% |
| Best 12 months | +496.3% | +506.6% |
| Worst 12 months | −9.9% | −9.9% |
| Positive months | 58% | 62% |
| Beta vs S&P 500 | 3.93 | — |
| Correlation with S&P 500 | 0.64 | — |
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.
NVDL rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 35 | −14.1% | +86.4% | +506.6% | 89% |
| 3-year (a year) | 11 | +82.5% | +111.5% | +215.4% | 100% |
Every holding period starting at a month-end since 2022. Returns for 3 years and longer are annualized.
NVDL performance overview
GraniteShares 2x Long NVDA Daily ETF (NVDL) returned +5.3% over the past year, with distributions reinvested. Since its first recorded price in 2022 it has returned +127.0% a year, turning $10,000 into about $236,876. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −67.6%, from Jun 18, 2024 to Apr 4, 2025, and it took 4 months to get back to the old high. NVDL finished 3 of its 3 full calendar years with a gain; the best year was 2023 (+432.2%) and the worst 2025 (+32.6%). Volatility has been 78.5% a year.
Related: NVDL chart. See the NVDL overview for the latest quote and fund facts.
NVDL performance FAQ
What is the NVDL return over the past year?
NVDL returned +5.3% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 5.3%.
How much would $10,000 invested in NVDL be worth?
$10,000 invested in NVDL at its first recorded close on December 13, 2022 would be worth about $236,876 on October 23, 2026 with distributions reinvested.
What was the worst year for NVDL?
The worst calendar year was 2025, with a total return of +32.6%. The best was 2023 at +432.2%.
What is the biggest drawdown of NVDL?
The largest peak-to-trough decline was −67.6% between June 18, 2024 and April 4, 2025. It recovered to the old high on July 28, 2025, 4 months after the bottom.
How volatile is NVDL?
Over the past 3 years NVDL had an annualized volatility of 76.3% and a Sharpe ratio of 1.25 (excess return over 1–3 month T-bills per unit of risk).