NVDL vs SPXL
GraniteShares 2x Long NVDA Daily ETF vs Direxion Daily S&P 500 Bull 3X ETF
Which is better, NVDL or SPXL?
Each has led over a different period.
SPXL has a lower expense ratio. NVDL led over 3Y and the full window, SPXL over 1Y.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | NVDL | SPXL |
|---|---|---|
| Expense Ratio | 1.05% | 0.87%Best |
| AUM | $3.5B | $7.4B |
| Dividend Yield | 0.00% | 0.52% |
| Holdings | 4 | 1,030 |
| YTD Return | +14.36% | +30.47%Best |
| 1Y Return | +19.21% | +39.94%Best |
| 3Y Return (annualized) | +95.77%Best | +52.99% |
| 5Y Return (annualized) | - | +20.66% |
| Volatility (annualized) | 78.1% | 38.7%Best |
| Max Drawdown | -67.5% | -49.0%Best |
| $10,000 over 3.8 years | $255,002Best | $40,782 |
| Fund Family | GraniteShares | Direxion Shares ETF Trust |
| Category | Alternative | Alternative |
| Style | Multi Alternative | Multi Alternative |
| Inception | Dec 13, 2022 | Nov 5, 2008 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 3.8 years row, are measured over the window both funds cover: Dec 13, 2022 to Oct 14, 2026 (3.8 years).
NVDL vs SPXL growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
NVDL vs SPXL Performance
GraniteShares 2x Long NVDA Daily ETF (NVDL) is an ETF from GraniteShares and Direxion Daily S&P 500 Bull 3X ETF (SPXL) is an ETF from Direxion Shares ETF Trust. Over the past year NVDL returned +19.21% while SPXL returned +39.94%. Year to date, NVDL is up 14.36% versus a gain of 30.47% for SPXL.
Over three years, NVDL compounded at +95.77% per year against +52.99% for SPXL. Across the full 4-year window we track, NVDL has the edge at +134.50% annualized vs +44.76%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NVDL has been the more volatile fund, with annualized monthly volatility of 78.1% compared with 38.7% for SPXL. 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 -49.0% for SPXL. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.58. They move together some of the time, and apart the rest.
Fees and Cost Over Time
NVDL charges 1.05% per year while SPXL charges 0.87%. On a $10,000 position that is $105 vs $87 annually, a gap of $18 per year that compounds over a long holding period. On income, NVDL currently yields 0.00% against 0.52% for SPXL.
You are not choosing between two funds in isolation.
Whichever of NVDL and SPXL you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, NVDL or SPXL?
NVDL has an expense ratio of 1.05% while SPXL charges 0.87%. SPXL is the cheaper option, by $18 a year on a $10,000 investment.
Which performed better, NVDL or SPXL?
Over the past year NVDL returned +19.21% vs +39.94% for SPXL, so SPXL leads on 1-year performance. Over the longest common window we track (4 years), NVDL annualized +134.50% vs +44.76% for SPXL. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, NVDL or SPXL?
NVDL has been the more volatile fund at 78.1% annualized versus 38.7% for SPXL. Worst drawdown: NVDL -67.5% vs SPXL -49.0%.
Should I hold both NVDL and SPXL?
NVDL and SPXL have a monthly-return correlation of 0.58, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, NVDL or SPXL?
NVDL yields 0.00% while SPXL yields 0.52%, so SPXL currently pays the higher dividend yield.
Is SPXL better than NVDL?
SPXL has a lower expense ratio. NVDL led over 3Y and the full window, SPXL over 1Y. Which one suits a particular account depends on what it is for. This is information, not a recommendation.