AIPO vs. ERX

Last updated Jul 17, 2026

AIPO (Defiance AI & Power Infrastructure ETF) and ERX (Direxion Daily Energy Bull 2X Shares) are both exchange-traded funds - AIPO is a Building & Construction fund tracking the MarketVector™ US Listed AI and Power Infrastructure Index, while ERX is a Leveraged Equities fund tracking the Energy Select Sector Index (300%). Both are passively managed. At a correlation of -0.07, they often move in opposite directions. AIPO charges 0.69%/yr vs 1.09%/yr for ERX.

Performance

AIPO vs. ERX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance AI & Power Infrastructure ETF (AIPO) and Direxion Daily Energy Bull 2X Shares (ERX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AIPO achieves a 32.32% return, which is significantly lower than ERX's 57.54% return.

AIPO

• 1D: -4.06%
• 1M: -9.52%
• 6M: 21.25%
• YTD: 32.32%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ERX

• 1D: 1.76%
• 1M: 6.94%
• 6M: 39.75%
• YTD: 57.54%
• 1Y: 68.66%
• 3Y*: 19.68%
• 5Y*: 34.10%
• 10Y*: -10.35%

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

AIPO vs. ERX - Yearly Performance Comparison

	2026 (YTD)	2025
AIPO Defiance AI & Power Infrastructure ETF	32.32%	9.46%
ERX Direxion Daily Energy Bull 2X Shares	57.54%	4.12%

Correlation

The correlation between AIPO and ERX is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 25, 2025	-0.07

AIPO vs. ERX - Sectors Allocation Comparison

Sectors	AIPO	ERX
Industrials	47.5%	-
Utilities	25.3%	-
Technology	15.0%	-
Energy	7.4%	100.0%
Financial Services	2.9%	-
Real Estate	0.9%	-
Communication Services	0.5%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Healthcare	-	-

Return for Risk

AIPO vs. ERX — Risk / Return Rank

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

AIPO

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

ERX

ERX Risk / Return Rank: 54
ERX Sharpe Ratio Rank: 62
ERX Sortino Ratio Rank: 53
ERX Omega Ratio Rank: 50
ERX Calmar Ratio Rank: 57
ERX Martin Ratio Rank: 45

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.

AIPO vs. ERX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance AI & Power Infrastructure ETF (AIPO) and Direxion Daily Energy Bull 2X Shares (ERX). 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.

	AIPO	ERX	Difference
Sharpe ratio: Return per unit of total volatility	—	1.64	—
Sortino ratio: Return per unit of downside risk	—	2.12	—
Omega ratio: Gain probability vs. loss probability	—	1.26	—
Calmar ratio: Return relative to maximum drawdown	—	2.30	—
Martin ratio: Return relative to average drawdown	—	5.95	—

Drawdowns

AIPO vs. ERX - Drawdown Comparison

The maximum AIPO drawdown since its inception was -17.31%, smaller than the maximum ERX drawdown of -99.54%. Use the drawdown chart below to compare losses from any high point for AIPO and ERX.

Drawdown Indicators

	AIPO	ERX	Difference
Max Drawdown Largest peak-to-trough decline	-17.31%	-99.54%	+82.23%
Max Drawdown (1Y) Largest decline over 1 year	—	-29.97%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-42.34%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-46.90%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-98.59%	—
Current Drawdown Current decline from peak	-15.82%	-92.05%	+76.23%
Average Drawdown Average peak-to-trough decline	-4.77%	-67.18%	+62.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	11.57%	—

Volatility

Volatility by Period

	AIPO	ERX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	12.31%	—
Volatility (6M) Calculated over the trailing 6-month period	—	33.63%	—
Volatility (1Y) Calculated over the trailing 1-year period	36.08%	42.09%	-6.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.08%	51.72%	-15.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.08%	68.92%	-32.84%

AIPO vs. ERX - Expense Ratio Comparison

AIPO has a 0.69% expense ratio, which is lower than ERX's 1.09% expense ratio.

Dividends

AIPO vs. ERX - Dividend Comparison

AIPO's dividend yield for the trailing twelve months is around 0.01%, less than ERX's 1.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
AIPO Defiance AI & Power Infrastructure ETF	0.01%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ERX Direxion Daily Energy Bull 2X Shares	1.62%	2.54%	2.94%	3.17%	2.23%	2.16%	2.35%	1.56%	3.10%	0.85%

Frequently Asked Questions

Can I hold both AIPO and ERX in my portfolio?

AIPO and ERX have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AIPO or ERX?

On fees, AIPO is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AIPO or ERX?

AIPO is cheaper with a 0.69% expense ratio, compared with 1.09% for ERX.

Which ETF pays a higher dividend yield, AIPO or ERX?

ERX has the higher dividend yield at 1.62%, compared with 0.01% for AIPO.

What is the main difference between AIPO and ERX?

AIPO is categorized as Building & Construction, while ERX is Leveraged Equities. AIPO tracks MarketVector™ US Listed AI and Power Infrastructure Index, while ERX tracks Energy Select Sector Index (300%). They also come from different issuers: Defiance and Direxion. Their fees differ too: 0.69% for AIPO and 1.09% for ERX.