GraniteShares 2x Long NVDA ETF can double gains but risks heavy losses due to daily reset decay.

GraniteShares 2x Long NVDA Daily ETF (NVDL) offers double exposure to NVIDIA stock but resets leverage daily, causing significant losses in volatile markets. During a 2025 downturn, NVDL lost 68% while NVIDIA fell 35%, illustrating the impact of daily reset decay and volatility tax. The fund suits short-term tactical trades rather than long-term holds, as multi-week exposure leads to compounding losses. Investors seeking NVIDIA leverage should consider alternatives like long-dated options to avoid path dependency costs.