An exchange-traded fund (ETF) associated with the surging stock of the U.S. chip manufacturer Nvidia Corp has emerged as the best-performing ETF of the year, thanks to the growing enthusiasm surrounding artificial intelligence.

The GraniteShares 1.5X Long NVDA Daily ETF, which tracks 1.5 times the daily percentage change of Nvidia's stock, has recorded a remarkable 328.5% gain year-to-date, outpacing the stock's own rise of 190%.

According to VettaFi Research, this ETF holds the top position as the best-performing ETF in 2023, closely followed by the GraniteShares 1.5x Long Meta Daily ETF, another leveraged ETF, which has surged by 272% year-to-date.

Leveraged ETFs aim to magnify the returns of the underlying index or stock.

"The remarkable performance of the underlying company is the primary reason for NVDL's status as the best-performing ETF in the U.S. market," explained Will Rhind, CEO and founder of GraniteShares. "Nvidia has become the leading stock to hold in the field of artificial...


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