Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) Sharpe Ratio: 1.83

DFEN's Sharpe Ratio of 1.83 indicates that for each unit of volatility, it generates 1.83 units of excess return above the risk-free rate. The ratio is calculated using historical daily returns over the past 12 months (as of Apr 1, 2026).

Sharpe uses total volatility (standard deviation) which includes both upside and downside price movements, making it useful for comparing risk-adjusted returns across different assets.

DFEN Sharpe Ratio Rank

Exceptional

DFEN ranks above 88.6% of all investments in our database based on Sharpe Ratio over the past 12 months, demonstrating exceptional risk-adjusted returns. Securities are ranked from 0 (worst) to 100 (best).

What moves the rank

Strong returns with low total volatility → Higher rank
High volatility (both upside and downside) → Lower rank
Consistent returns → Higher rank than volatile returns of same magnitude
Sharp drawdowns increase volatility → Lower rank

What you can do with this information

Suitable as a core holding given strong risk-adjusted returns
Monitor rank changes to detect deteriorating return-to-volatility profile
Exceptional Sharpe ratio supports larger position sizes
Compare with category peers to assess whether strength is investment-specific or category-wide

DFEN Sharpe Ratio Market Positioning

The chart shows DFEN's Sharpe Ratio relative to all ETFs on our platform, with color zones indicating percentile rankings. Higher ratios indicate better risk-adjusted returns.

Red zone (bottom 25%): 0.46 or lower
Yellow zone (middle 50%): 0.46 to 1.40
Green zone (top 25%): 1.40 or higher
Top 1%: 5.72+
Median: 0.94 — half of all investments score higher

How it compares to other similar ETFs

The table compares Direxion Daily Aerospace & Defense Bull 3X Shares's Sharpe Ratio with other ETFs in the Leveraged Equities, Leveraged, Aerospace & Defense category across multiple time periods, showing how DFEN's risk-adjusted performance compares to similar funds.

Data shows 1-, 5-, and 10-year periods, plus each fund's all-time average, as of Apr 1, 2026.

Symbol	Name	1Y Sharpe Ratio
KORU	Direxion Daily South Korea Bull 3X Shares	6.21
MUU	Direxion Daily MU Bull 2X Shares	6.16
MULL	GraniteShares 2x Long MU Daily ETF	5.72
GGLL	Direxion Daily GOOGL Bull 2X Shares	3.08
TSMG	Leverage Shares 2X Long TSM Daily ETF	2.98
TSMX	Direxion Daily TSM Bull 2X Shares	2.95
GOOX	T-Rex 2X Long Alphabet Daily Target ETF	2.93
UFO	Procure Space ETF	2.84
KDEF	PLUS Korea Defense Industry Index ETF	2.79
TSMU	GraniteShares 2x Long TSM Daily ETF	2.78
DFEN	Direxion Daily Aerospace & Defense Bull 3X Shares	1.83

Benchmark Against

Benchmark

S&P 500 Index

Lookback Period

How to choose period

Historical Sharpe Ratio

The chart shows DFEN's rolling Sharpe ratio over time compared to your chosen benchmark. Rising trends indicate improving returns relative to total volatility, while declining trends may signal deteriorating risk-adjusted performance or increased volatility. Use multiple timeframes to distinguish short-term fluctuations from long-term patterns.

Identify market cycles by observing when DFEN consistently outperforms (line above benchmark), underperforms (below benchmark), or aligns with the benchmark.

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Explore DFEN risk-adjusted metrics in detail

Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.

DFEN Sortino Ratio