NVDL vs SPY
GraniteShares 2x Long 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 505 holdings.
Side-by-Side Comparison
| Metric | NVDL | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.05% | 0.09% | |
| AUM | $4.1B | $821.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 2 | 505 | |
| YTD Return | +10.93% | +12.68% | |
| 1Y Return | +18.58% | +21.82% | |
| 3Y Return (annualized) | +93.27% | +21.98% | |
| 5Y Return (annualized) | - | +12.89% | |
| Volatility (annualized) | 79.3% | 15.3% | |
| Max Drawdown | -67.5% | -56.5% | |
| Fund Family | GraniteShares | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Dec 13, 2022 | Jan 22, 1993 |
NVDL vs SPY Performance
GraniteShares 2x Long NVDA Daily ETF (NVDL) 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 NVDL returned +18.58% while SPY returned +21.82%. Year to date, NVDL is up 10.93% versus a gain of 12.68% for SPY.
Over three years, NVDL compounded at +93.27% per year against +21.98% for SPY. Across the full 4-year window we track, NVDL has the edge at +140.65% annualized vs +8.81%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NVDL has been the more volatile fund, with annualized monthly volatility of 79.3% 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 -67.5% for NVDL 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 0.58. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
NVDL charges 1.05% per year while SPY charges 0.09%. On a $10,000 position that is $105 vs $9 annually, a gap of $96 per year that compounds over a long holding period. On income, NVDL currently yields 0.00% against 1.01% for SPY.
Holdings Overlap
NVDL and SPY share 1 holdings out of 504 unique holdings combined, representing a 7.7% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in NVDL | Weight in SPY | Difference |
|---|---|---|---|
| NVDA | 66.66% | 7.71% | 58.95% |
Frequently Asked Questions
Which is cheaper, NVDL or SPY?
NVDL has an expense ratio of 1.05% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $96 per year of difference.
Which performed better, NVDL or SPY?
Over the past year NVDL returned +18.58% vs +21.82% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (4 years), NVDL annualized +140.65% vs +8.81% for SPY. Past performance does not guarantee future results.
Which is riskier, NVDL or SPY?
NVDL has been the more volatile fund at 79.3% annualized versus 15.3% for SPY. Worst drawdown: NVDL -67.5% vs SPY -56.5%.
Should I hold both NVDL and SPY?
NVDL and SPY have a monthly-return correlation of 0.58, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between NVDL and SPY?
NVDL and SPY share 1 common holdings with a 7.7% weight overlap. Combined, they hold 504 unique securities.
Which pays a higher dividend, NVDL or SPY?
NVDL yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.