AIBD vs. FIAT

Last updated Jul 17, 2026

AIBD (Direxion Daily AI and Big Data Bear 2X Shares) and FIAT (YieldMax Short COIN Option Income Strategy ETF) are both exchange-traded funds - AIBD is a Inverse Equities fund tracking the Solactive US AI & Big Data Index, while FIAT is a Derivative Income fund actively managed by YieldMax. AIBD is passively managed, while FIAT is actively managed. Over the past year, AIBD returned -39.60% vs 58.74% for FIAT. A 0.54 correlation means they provide meaningful diversification when combined. AIBD charges 1.05%/yr vs 0.99%/yr for FIAT.

Performance

AIBD vs. FIAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily AI and Big Data Bear 2X Shares (AIBD) and YieldMax Short COIN Option Income Strategy ETF (FIAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AIBD achieves a -26.00% return, which is significantly lower than FIAT's 13.14% return.

AIBD

• 1D: 5.39%
• 1M: 9.76%
• 6M: -24.63%
• YTD: -26.00%
• 1Y: -39.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FIAT

• 1D: 3.25%
• 1M: 2.71%
• 6M: 17.49%
• YTD: 13.14%
• 1Y: 58.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AIBD vs. FIAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AIBD Direxion Daily AI and Big Data Bear 2X Shares	-26.00%	-49.15%	-20.41%
FIAT YieldMax Short COIN Option Income Strategy ETF	13.14%	-24.17%	-28.04%

Correlation

The correlation between AIBD and FIAT is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (All Time) Calculated using the full available price history since Jul 10, 2024	0.54

The correlation between AIBD and FIAT has been stable across timeframes, ranging from 0.51 to 0.54 - a consistent structural relationship.

Return for Risk

AIBD vs. FIAT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AIBD

AIBD Risk / Return Rank: 3
AIBD Sharpe Ratio Rank: 3
AIBD Sortino Ratio Rank: 4
AIBD Omega Ratio Rank: 4
AIBD Calmar Ratio Rank: 4
AIBD Martin Ratio Rank: 2

FIAT

FIAT Risk / Return Rank: 37
FIAT Sharpe Ratio Rank: 38
FIAT Sortino Ratio Rank: 36
FIAT Omega Ratio Rank: 39
FIAT Calmar Ratio Rank: 41
FIAT Martin Ratio Rank: 31

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AIBD vs. FIAT - 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 YieldMax Short COIN Option Income Strategy ETF (FIAT). 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.

	AIBD	FIAT	Difference
Sharpe ratio: Return per unit of total volatility	-0.72	1.12	-1.84
Sortino ratio: Return per unit of downside risk	-0.91	1.60	-2.50
Omega ratio: Gain probability vs. loss probability	0.90	1.22	-0.31
Calmar ratio: Return relative to maximum drawdown	-0.68	1.72	-2.40
Martin ratio: Return relative to average drawdown	-1.41	3.68	-5.09

AIBD vs. FIAT - Sharpe Ratio Comparison

The current AIBD Sharpe Ratio is -0.72, which is lower than the FIAT Sharpe Ratio of 1.12. The chart below compares the historical Sharpe Ratios of AIBD and FIAT, 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

AIBD vs. FIAT - Drawdown Comparison

The maximum AIBD drawdown since its inception was -82.11%, which is greater than FIAT's maximum drawdown of -70.50%. Use the drawdown chart below to compare losses from any high point for AIBD and FIAT.

Drawdown Indicators

	AIBD	FIAT	Difference
Max Drawdown Largest peak-to-trough decline	-82.11%	-70.50%	-11.61%
Max Drawdown (1Y) Largest decline over 1 year	-58.75%	-34.22%	-24.53%
Current Drawdown Current decline from peak	-77.48%	-51.24%	-26.24%
Average Drawdown Average peak-to-trough decline	-49.73%	-45.56%	-4.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.63%	16.00%	+12.63%

Volatility

AIBD vs. FIAT - Volatility Comparison

Direxion Daily AI and Big Data Bear 2X Shares (AIBD) has a higher volatility of 15.87% compared to YieldMax Short COIN Option Income Strategy ETF (FIAT) at 13.83%. This indicates that AIBD's price experiences larger fluctuations and is considered to be riskier than FIAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AIBD	FIAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.87%	13.83%	+2.04%
Volatility (6M) Calculated over the trailing 6-month period	42.24%	43.70%	-1.46%
Volatility (1Y) Calculated over the trailing 1-year period	54.86%	52.71%	+2.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	57.20%	59.95%	-2.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	57.20%	59.95%	-2.75%

AIBD vs. FIAT - Expense Ratio Comparison

AIBD has a 1.05% expense ratio, which is higher than FIAT's 0.99% expense ratio.

Dividends

AIBD vs. FIAT - Dividend Comparison

AIBD's dividend yield for the trailing twelve months is around 3.41%, less than FIAT's 108.57% yield.

Position	TTM	2025	2024
AIBD Direxion Daily AI and Big Data Bear 2X Shares	3.41%	4.37%	3.58%
FIAT YieldMax Short COIN Option Income Strategy ETF	108.57%	178.11%	70.99%

Frequently Asked Questions

Can I hold both AIBD and FIAT in my portfolio?

AIBD and FIAT have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AIBD or FIAT?

AIBD has higher volatility (15.87%) compared to FIAT (13.83%). In terms of maximum drawdown, AIBD dropped -82.11% vs FIAT's -70.50%.

Which ETF is better, AIBD or FIAT?

On 1-year performance, FIAT leads with 58.74% vs -39.60% for AIBD. On fees, FIAT is cheaper at 0.99% per year. On volatility, FIAT has been the lower-risk option at 13.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AIBD or FIAT?

Over the 1-year period, FIAT has performed better with a 58.74% return vs -39.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AIBD or FIAT?

FIAT is cheaper with a 0.99% expense ratio, compared with 1.05% for AIBD.

Which ETF pays a higher dividend yield, AIBD or FIAT?

FIAT has the higher dividend yield at 108.57%, compared with 3.41% for AIBD.

What is the main difference between AIBD and FIAT?

AIBD is categorized as Inverse Equities, while FIAT is Derivative Income. They also come from different issuers: Direxion and YieldMax. Their fees differ too: 1.05% for AIBD and 0.99% for FIAT.

Which has better risk-adjusted returns?

FIAT currently has the higher Sharpe Ratio (1.12 vs -0.72), 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.