AIBD vs. EMTY
AIBD (Direxion Daily AI and Big Data Bear 2X Shares) and EMTY (ProShares Decline of the Retail Store ETF) are both Inverse Equities funds - AIBD tracks the Solactive US AI & Big Data Index while EMTY tracks the Solactive-ProShares Bricks and Mortar Retail Store Index (-100%). Both are passively managed. Over the past year, AIBD returned -59.55% vs 1.60% for EMTY. At a 0.31 correlation, their price movements are largely independent. AIBD charges 1.05%/yr vs 0.66%/yr for EMTY.
Performance
AIBD vs. EMTY - Performance Comparison
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Returns By Period
In the year-to-date period, AIBD achieves a -38.68% return, which is significantly lower than EMTY's 1.09% return.
AIBD
- 1D
- 4.30%
- 1M
- -24.36%
- YTD
- -38.68%
- 6M
- -33.54%
- 1Y
- -59.55%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EMTY
- 1D
- -0.32%
- 1M
- 1.81%
- YTD
- 1.09%
- 6M
- 3.80%
- 1Y
- 1.60%
- 3Y*
- -4.69%
- 5Y*
- -2.87%
- 10Y*
- —
AIBD vs. EMTY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
AIBD Direxion Daily AI and Big Data Bear 2X Shares | -38.68% | -49.15% | -33.02% |
EMTY ProShares Decline of the Retail Store ETF | 1.09% | -1.76% | 1.08% |
Correlation
The correlation between AIBD and EMTY is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since May 16, 2024 | 0.31 |
The correlation between AIBD and EMTY shifts across timeframes, from 0.15 (1 year) to 0.31 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
AIBD vs. EMTY — Risk / Return Rank
AIBD
EMTY
AIBD vs. EMTY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily AI and Big Data Bear 2X Shares (AIBD) and ProShares Decline of the Retail Store ETF (EMTY). 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.
| AIBD | EMTY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.26 | ||
| Sortino ratioReturn per unit of downside risk | -2.28 | ||
| Omega ratioGain probability vs. loss probability | 0.78 | 1.03 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.97 | 0.11 | -1.09 |
| Martin ratioReturn relative to average drawdown | -1.78 | 0.20 | -1.98 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AIBD | EMTY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.17 | 0.09 | -1.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.13 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.95 | -0.43 | -0.52 |
Drawdowns
AIBD vs. EMTY - Drawdown Comparison
The maximum AIBD drawdown since its inception was -82.11%, which is greater than EMTY's maximum drawdown of -77.62%. Use the drawdown chart below to compare losses from any high point for AIBD and EMTY.
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Drawdown Indicators
| AIBD | EMTY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.11% | -77.62% | -4.49% |
Max Drawdown (1Y)Largest decline over 1 year | -61.47% | -14.00% | -47.47% |
Max Drawdown (3Y)Largest decline over 3 years | — | -30.83% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -30.83% | — |
Current DrawdownCurrent decline from peak | -81.34% | -74.77% | -6.57% |
Average DrawdownAverage peak-to-trough decline | -48.17% | -54.01% | +5.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.38% | 8.11% | +25.27% |
Volatility
AIBD vs. EMTY - Volatility Comparison
Direxion Daily AI and Big Data Bear 2X Shares (AIBD) has a higher volatility of 14.63% compared to ProShares Decline of the Retail Store ETF (EMTY) at 6.00%. This indicates that AIBD's price experiences larger fluctuations and is considered to be riskier than EMTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AIBD | EMTY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.63% | 6.00% | +8.63% |
Volatility (6M)Calculated over the trailing 6-month period | 37.40% | 12.40% | +25.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.16% | 17.71% | +33.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 56.52% | 22.36% | +34.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.52% | 25.67% | +30.85% |
AIBD vs. EMTY - Expense Ratio Comparison
AIBD has a 1.05% expense ratio, which is higher than EMTY's 0.66% expense ratio.
Dividends
AIBD vs. EMTY - Dividend Comparison
AIBD's dividend yield for the trailing twelve months is around 5.68%, more than EMTY's 3.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
AIBD Direxion Daily AI and Big Data Bear 2X Shares | 5.68% | 4.37% | 3.58% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EMTY ProShares Decline of the Retail Store ETF | 3.45% | 3.83% | 6.00% | 4.41% | 0.65% | 0.00% | 0.07% | 0.82% | 0.62% | 0.03% |
Frequently Asked Questions
AIBD and EMTY have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AIBD has higher volatility (14.63%) compared to EMTY (6.00%). In terms of maximum drawdown, AIBD dropped -82.11% vs EMTY's -77.62%.
On 1-year performance, EMTY leads with 1.60% vs -59.55% for AIBD. On fees, EMTY is cheaper at 0.66% per year. On volatility, EMTY has been the lower-risk option at 6.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, EMTY has performed better with a 1.60% return vs -59.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EMTY is cheaper with a 0.66% expense ratio, compared with 1.05% for AIBD.
AIBD has the higher dividend yield at 5.68%, compared with 3.45% for EMTY.
AIBD tracks Solactive US AI & Big Data Index, while EMTY tracks Solactive-ProShares Bricks and Mortar Retail Store Index (-100%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.05% for AIBD and 0.66% for EMTY.
EMTY currently has the higher Sharpe Ratio (0.09 vs -1.17), 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.
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