NVD vs SPY
GraniteShares 2x Short NVDA Daily ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | NVD | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.35% | 0.09% | |
| AUM | $68M | $789.1B | |
| Dividend Yield | 16.25% | 1.01% | |
| Holdings | 1 | 505 | |
| YTD Return | -43.27% | +13.68% | |
| 1Y Return | -51.90% | +21.53% | |
| 3Y Return (annualized) | -79.16% | +21.44% | |
| 5Y Return (annualized) | - | +13.18% | |
| Volatility (annualized) | 61.6% | 15.3% | |
| Max Drawdown | -99.2% | -56.5% | |
| Fund Family | GraniteShares | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Aug 21, 2023 | Jan 22, 1993 |
NVD vs SPY Performance
GraniteShares 2x Short NVDA Daily ETF (NVD) is a ETF from GraniteShares and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year NVD returned -51.90% while SPY returned +21.53%. Year to date, NVD is down 43.27% versus a gain of 13.68% for SPY.
Over three years, NVD compounded at -79.16% per year against +21.44% for SPY. Across the full 3-year window we track, SPY has the edge at +8.85% annualized vs -79.16%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NVD has been the more volatile fund, with annualized monthly volatility of 61.6% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -99.2% for NVD and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at -0.67. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
NVD charges 1.35% per year while SPY charges 0.09%. On a $10,000 position that is $135 vs $9 annually, a gap of $126 per year that compounds over a long holding period. On income, NVD currently yields 16.25% against 1.01% for SPY.
Holdings Overlap
NVD and SPY share 1 holdings out of 503 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in NVD | Weight in SPY | Difference |
|---|---|---|---|
| NVDA | -200.53% | 7.31% | 207.84% |
Frequently Asked Questions
Which is cheaper, NVD or SPY?
NVD has an expense ratio of 1.35% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $126 per year of difference.
Which performed better, NVD or SPY?
Over the past year NVD returned -51.90% vs +21.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (3 years), NVD annualized -79.16% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, NVD or SPY?
NVD has been the more volatile fund at 61.6% annualized versus 15.3% for SPY. Worst drawdown: NVD -99.2% vs SPY -56.5%.
Should I hold both NVD and SPY?
NVD and SPY have a monthly-return correlation of -0.67, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between NVD and SPY?
NVD and SPY share 1 common holdings with a 0.0% weight overlap. Combined, they hold 503 unique securities.
Which pays a higher dividend, NVD or SPY?
NVD yields 16.25% while SPY yields 1.01%, so NVD currently pays the higher dividend yield.
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