AIBD vs. SEF

Last updated Jul 17, 2026

AIBD (Direxion Daily AI and Big Data Bear 2X Shares) and SEF (ProShares Short Financials) are both Inverse Equities funds - AIBD tracks the Solactive US AI & Big Data Index while SEF tracks the Dow Jones U.S. Financials Index (-100%). Both are passively managed. Over the past year, AIBD returned -39.60% vs -5.36% for SEF. At a 0.34 correlation, their price movements are largely independent. AIBD charges 1.05%/yr vs 0.95%/yr for SEF.

Performance

AIBD vs. SEF - 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 ProShares Short Financials (SEF). 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 SEF's -2.09% return.

AIBD

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

SEF

• 1D: -0.30%
• 1M: -4.14%
• 6M: -3.05%
• YTD: -2.09%
• 1Y: -5.36%
• 3Y*: -12.03%
• 5Y*: -7.58%
• 10Y*: -12.30%

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

AIBD vs. SEF - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AIBD Direxion Daily AI and Big Data Bear 2X Shares	-26.00%	-49.15%	-34.56%
SEF ProShares Short Financials	-2.09%	-9.82%	-10.75%

Correlation

The correlation between AIBD and SEF is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (All Time) Calculated using the full available price history since May 15, 2024	0.34

Return for Risk

AIBD vs. SEF — 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

SEF

SEF Risk / Return Rank: 6
SEF Sharpe Ratio Rank: 6
SEF Sortino Ratio Rank: 6
SEF Omega Ratio Rank: 6
SEF Calmar Ratio Rank: 6
SEF Martin Ratio Rank: 5

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. SEF - 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 Short Financials (SEF). 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	SEF	Difference
Sharpe ratio: Return per unit of total volatility	-0.72	-0.37	-0.35
Sortino ratio: Return per unit of downside risk	-0.91	-0.45	-0.46
Omega ratio: Gain probability vs. loss probability	0.90	0.95	-0.05
Calmar ratio: Return relative to maximum drawdown	-0.68	-0.36	-0.31
Martin ratio: Return relative to average drawdown	-1.41	-0.95	-0.46

AIBD vs. SEF - Sharpe Ratio Comparison

The current AIBD Sharpe Ratio is -0.72, which is lower than the SEF Sharpe Ratio of -0.37. The chart below compares the historical Sharpe Ratios of AIBD and SEF, 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. SEF - Drawdown Comparison

The maximum AIBD drawdown since its inception was -82.11%, smaller than the maximum SEF drawdown of -96.51%. Use the drawdown chart below to compare losses from any high point for AIBD and SEF.

Drawdown Indicators

	AIBD	SEF	Difference
Max Drawdown Largest peak-to-trough decline	-82.11%	-96.51%	+14.40%
Max Drawdown (1Y) Largest decline over 1 year	-58.75%	-14.82%	-43.93%
Max Drawdown (3Y) Largest decline over 3 years	—	-39.40%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-41.62%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-73.40%	—
Current Drawdown Current decline from peak	-77.48%	-96.48%	+19.00%
Average Drawdown Average peak-to-trough decline	-49.73%	-82.78%	+33.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.63%	5.65%	+22.98%

Volatility

AIBD vs. SEF - Volatility Comparison

Direxion Daily AI and Big Data Bear 2X Shares (AIBD) has a higher volatility of 15.87% compared to ProShares Short Financials (SEF) at 4.21%. This indicates that AIBD's price experiences larger fluctuations and is considered to be riskier than SEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AIBD	SEF	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.87%	4.21%	+11.66%
Volatility (6M) Calculated over the trailing 6-month period	42.24%	11.14%	+31.10%
Volatility (1Y) Calculated over the trailing 1-year period	54.86%	14.52%	+40.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	57.20%	17.97%	+39.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	57.20%	20.44%	+36.76%

AIBD vs. SEF - Expense Ratio Comparison

AIBD has a 1.05% expense ratio, which is higher than SEF's 0.95% expense ratio.

Dividends

AIBD vs. SEF - Dividend Comparison

AIBD's dividend yield for the trailing twelve months is around 3.41%, which matches SEF's 3.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
AIBD Direxion Daily AI and Big Data Bear 2X Shares	3.41%	4.37%	3.58%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SEF ProShares Short Financials	3.43%	4.33%	5.72%	4.43%	0.39%	0.00%	0.12%	1.25%	0.41%

Frequently Asked Questions

Can I hold both AIBD and SEF in my portfolio?

AIBD and SEF have a correlation of 0.26, 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 SEF?

AIBD has higher volatility (15.87%) compared to SEF (4.21%). In terms of maximum drawdown, AIBD dropped -82.11% vs SEF's -96.51%.

Which ETF is better, AIBD or SEF?

On 1-year performance, SEF leads with -5.36% vs -39.60% for AIBD. On fees, SEF is cheaper at 0.95% per year. On volatility, SEF has been the lower-risk option at 4.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AIBD or SEF?

Over the 1-year period, SEF has performed better with a -5.36% 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 SEF?

SEF is cheaper with a 0.95% expense ratio, compared with 1.05% for AIBD.

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

SEF has the higher dividend yield at 3.43%, compared with 3.41% for AIBD.

What is the main difference between AIBD and SEF?

AIBD tracks Solactive US AI & Big Data Index, while SEF tracks Dow Jones U.S. Financials Index (-100%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.05% for AIBD and 0.95% for SEF.

Which has better risk-adjusted returns?

SEF currently has the higher Sharpe Ratio (-0.37 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.