ADBG vs. NFXS

Last updated Aug 2, 2026

ADBG (Leverage Shares 2X Long ADBE Daily ETF) and NFXS (Direxion Daily NFLX Bear 1X Shares) are both exchange-traded funds - ADBG is a Leveraged Equities fund actively managed by Leverage Shares, while NFXS is a Inverse Equities fund actively managed by Direxion. Both are actively managed. Over the past year, ADBG returned -61.06% vs 52.79% for NFXS. Their -0.28 correlation means they have often moved in opposite directions in the past. ADBG charges 0.75%/yr vs 1.03%/yr for NFXS.

Performance

ADBG vs. NFXS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long ADBE Daily ETF (ADBG) and Direxion Daily NFLX Bear 1X Shares (NFXS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ADBG achieves a -58.12% return, which is significantly lower than NFXS's 24.98% return.

ADBG

• 1D: 1.66%
• 1M: 24.78%
• 6M: -39.12%
• YTD: -58.12%
• 1Y: -61.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -59.25%

NFXS

• 1D: 2.11%
• 1M: 7.73%
• 6M: 11.04%
• YTD: 24.98%
• 1Y: 52.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -5.77%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ADBG Leverage Shares 2X Long ADBE Daily ETF	$29.29M	$27.94M	$25.65M
NFXS Direxion Daily NFLX Bear 1X Shares	$587.15K	$968.11K	$646.26K

ADBG vs. NFXS - Yearly Performance Comparison

	2026 (YTD)	2025
ADBG Leverage Shares 2X Long ADBE Daily ETF	-58.12%	-29.61%
NFXS Direxion Daily NFLX Bear 1X Shares	24.98%	-0.84%

Correlation

The correlation between ADBG and NFXS is -0.23, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.23
Correlation (All Time) Calculated using the full available price history since Mar 21, 2025	-0.28

Return for Risk

ADBG vs. NFXS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ADBG

ADBG Risk / Return Rank: 2
ADBG Sharpe Ratio Rank: 3
ADBG Sortino Ratio Rank: 3
ADBG Omega Ratio Rank: 3
ADBG Calmar Ratio Rank: 2
ADBG Martin Ratio Rank: 1

NFXS

NFXS Risk / Return Rank: 58
NFXS Sharpe Ratio Rank: 65
NFXS Sortino Ratio Rank: 64
NFXS Omega Ratio Rank: 72
NFXS Calmar Ratio Rank: 47
NFXS Martin Ratio Rank: 42

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ADBG vs. NFXS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long ADBE Daily ETF (ADBG) and Direxion Daily NFLX Bear 1X Shares (NFXS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ADBG	NFXS	Difference
Sharpe ratio: Return per unit of total volatility	-0.82	1.52	-2.35
Sortino ratio: Return per unit of downside risk	-1.23	2.13	-3.36
Omega ratio: Gain probability vs. loss probability	0.86	1.30	-0.45
Calmar ratio: Return relative to maximum drawdown	-0.82	1.70	-2.52
Martin ratio: Return relative to average drawdown	-1.37	4.60	-5.98

ADBG vs. NFXS - Sharpe Ratio Comparison

The current ADBG Sharpe Ratio is -0.82, which is lower than the NFXS Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of ADBG and NFXS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ADBG vs. NFXS - Drawdown Comparison

The maximum ADBG drawdown since its inception was -84.14%, which is greater than NFXS's maximum drawdown of -50.37%. Use the drawdown chart below to compare losses from any high point for ADBG and NFXS.

Drawdown Indicators

	ADBG	NFXS	Difference
Max Drawdown Largest peak-to-trough decline	-84.14%	-50.37%	-33.77%
Max Drawdown (1Y) Largest decline over 1 year	-77.58%	-31.31%	-46.27%
Current Drawdown Current decline from peak	-74.57%	-12.34%	-62.23%
Average Drawdown Average peak-to-trough decline	-45.89%	-30.81%	-15.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	46.03%	11.54%	+34.49%

Volatility

ADBG vs. NFXS - Volatility Comparison

Leverage Shares 2X Long ADBE Daily ETF (ADBG) has a higher volatility of 32.51% compared to Direxion Daily NFLX Bear 1X Shares (NFXS) at 10.93%. This indicates that ADBG's price experiences larger fluctuations and is considered to be riskier than NFXS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ADBG	NFXS	Difference
Volatility (1M) Calculated over the trailing 1-month period	32.51%	10.93%	+21.58%
Volatility (6M) Calculated over the trailing 6-month period	66.46%	28.44%	+38.02%
Volatility (1Y) Calculated over the trailing 1-year period	76.96%	35.05%	+41.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.72%	34.93%	+37.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.72%	34.93%	+37.79%

ADBG vs. NFXS - Expense Ratio Comparison

ADBG has a 0.75% expense ratio, which is lower than NFXS's 1.03% expense ratio.

Dividends

ADBG vs. NFXS - Dividend Comparison

ADBG has not paid dividends to shareholders, while NFXS's dividend yield for the trailing twelve months is around 2.83%.

Position	TTM	2025	2024
ADBG Leverage Shares 2X Long ADBE Daily ETF	0.00%	0.00%	0.00%
NFXS Direxion Daily NFLX Bear 1X Shares	2.83%	3.53%	0.87%

Frequently Asked Questions

Can I hold both ADBG and NFXS in my portfolio?

ADBG and NFXS have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ADBG or NFXS?

ADBG has higher volatility (32.51%) compared to NFXS (10.93%). In terms of maximum drawdown, ADBG dropped -84.14% vs NFXS's -50.37%.

Which ETF is better, ADBG or NFXS?

On 1-year performance, NFXS leads with 52.79% vs -61.06% for ADBG. On fees, ADBG is cheaper at 0.75% per year. On volatility, NFXS has been the lower-risk option at 10.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ADBG or NFXS?

Over the 1-year period, NFXS has performed better with a 52.79% return vs -61.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ADBG or NFXS?

ADBG is cheaper with a 0.75% expense ratio, compared with 1.03% for NFXS.

Which ETF pays a higher dividend yield, ADBG or NFXS?

NFXS has the higher dividend yield at 2.83%, compared with 0.00% for ADBG.

What is the main difference between ADBG and NFXS?

ADBG is categorized as Leveraged Equities, while NFXS is Inverse Equities. They also come from different issuers: Leverage Shares and Direxion. Their fees differ too: 0.75% for ADBG and 1.03% for NFXS.

Which has better risk-adjusted returns?

NFXS currently has the higher Sharpe Ratio (1.52 vs -0.82), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.