T-Rex 2X Inverse NVIDIA Daily Target ETF (NVDQ) Performance
NVDQ total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −44.1% since Dec 31, 2025
- 1 year
- −50.7% total return
- 3 years
- −81.5% a year
- Since first price
- −81.6% a year since 2023
NVDQ trailing returns vs SPY, QQQ, AGG
| Period | NVDQ total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +12.2% | +12.2% | −1.0% | −5.0% | +0.9% |
| 3 months | −11.9% | −11.9% | +3.2% | +1.9% | −0.4% |
| 6 months | −29.1% | −29.1% | +7.8% | +8.4% | −1.5% |
| YTD | −44.1% | −44.1% | +12.3% | +15.1% | −1.0% |
| 1 year | −50.7% | −50.8% | +14.4% | +15.9% | −1.1% |
| 3 years | −99.4%−81.5%/yr | −99.5% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionOct 19, 2023 | −99.4%−81.6%/yr | −99.5% | — | — | — |
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: NVDQ vs SPY
From Oct 19, 2023: NVDQ grew to $61, SPY to $18,479.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
NVDQ returns by calendar year
0 of 2 full years positive. Best 2025 (−74.6%), worst 2024 (−93.8%). 2026 is year to date.
NVDQ annual returns table
| Year | NVDQ | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −44.1% | −62.4% | +12.3% | +15.1% | −1.0% |
| 2025 | −74.6% | −85.0% | +17.7% | +20.8% | +7.2% |
| 2024 | −93.8% | −95.1% | +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.
NVDQ largest drawdowns
Now 99.4% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Oct 26, 2023 | −99.6% | Oct 5, 2026 | not yet | 2.9 years | 3.0 years so far |
| Oct 20, 2023 | −10.9% | Oct 24, 2023 | Oct 26, 2023 | 4 days | 6 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
NVDQ risk statistics
| Statistic | Since 2023 |
|---|---|
| Annualized return | −83.7% |
| Volatility (annualized) | 58.0% |
| Sharpe ratio | -2.64 |
| Sortino ratio | -2.22 |
| Best month | +25.5% |
| Worst month | −46.5% |
| Best 12 months | −46.2% |
| Worst 12 months | −95.6% |
| Positive months | 23% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
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.
NVDQ rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 25 | −95.6% | −76.6% | −38.1% | 0% |
| 3-year (a year) | 1 | −82.0% | −82.0% | −82.0% | 0% |
Every holding period starting at a month-end since 2023. Returns for 3 years and longer are annualized.
NVDQ performance overview
T-Rex 2X Inverse NVIDIA Daily Target ETF (NVDQ) returned −50.7% over the past year, with distributions reinvested. Since its first recorded price in 2023 it has returned −81.6% a year, turning $10,000 into about $61. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −99.6%, from Oct 26, 2023 to Oct 5, 2026; the fund has not yet regained that high. Volatility has been 58.0% a year.
Related: NVDQ chart, NVDQ dividends. See the NVDQ overview for the latest quote and fund facts.
NVDQ performance FAQ
What is the NVDQ return over the past year?
NVDQ returned −50.7% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 50.8%.
How much would $10,000 invested in NVDQ be worth?
$10,000 invested in NVDQ at its first recorded close on October 19, 2023 would be worth about $61 on October 23, 2026 with distributions reinvested.
What was the worst year for NVDQ?
The worst calendar year was 2024, with a total return of −93.8%. The best was 2025 at −74.6%.
What is the biggest drawdown of NVDQ?
The largest peak-to-trough decline was −99.6% between October 26, 2023 and October 5, 2026. It has not yet recovered to that high; it is 99.4% below its peak.
How volatile is NVDQ?
Over the past history NVDQ had an annualized volatility of 58.0% and a Sharpe ratio of -2.64 (excess return over 1–3 month T-bills per unit of risk).