ASGI vs. DFEN

Last updated Jun 20, 2026

ASGI (Abrdn Global Infrastructure Income Fund) and DFEN (Direxion Daily Aerospace & Defense Bull 3X Shares) are both funds - ASGI is a Industrials Equities fund managed by Aberdeen, while DFEN is a Leveraged Equities fund tracking the Dow Jones U.S. Select Aerospace & Defense Index (300% Daily). Over the past 5 years, ASGI returned 11.30%/yr vs 33.49%/yr for DFEN. At a 0.39 correlation, their price movements are largely independent. ASGI charges 1.65%/yr vs 0.96%/yr for DFEN.

Performance

ASGI vs. DFEN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Abrdn Global Infrastructure Income Fund (ASGI) and Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ASGI achieves a 4.04% return, which is significantly lower than DFEN's 20.97% return.

ASGI

• 1D: 2.12%
• 1M: -7.85%
• YTD: 4.04%
• 6M: 5.99%
• 1Y: 22.98%
• 3Y*: 20.51%
• 5Y*: 11.30%
• 10Y*: —

DFEN

• 1D: -4.32%
• 1M: 17.09%
• YTD: 20.97%
• 6M: 21.25%
• 1Y: 87.39%
• 3Y*: 67.96%
• 5Y*: 33.49%
• 10Y*: —

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

ASGI vs. DFEN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
ASGI Abrdn Global Infrastructure Income Fund	4.04%	44.20%	10.26%	14.48%	-10.50%	18.17%	-4.74%
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares	20.97%	156.62%	27.07%	24.70%	6.99%	12.72%	48.35%

Correlation

The correlation between ASGI and DFEN is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (All Time) Calculated using the full available price history since Jul 29, 2020	0.39

The correlation between ASGI and DFEN shifts across timeframes, from 0.25 (1 year) to 0.41 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

ASGI vs. DFEN — Risk / Return Rank

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

ASGI

ASGI Risk / Return Rank: 24
ASGI Sharpe Ratio Rank: 25
ASGI Sortino Ratio Rank: 22
ASGI Omega Ratio Rank: 25
ASGI Calmar Ratio Rank: 24
ASGI Martin Ratio Rank: 25

DFEN

DFEN Risk / Return Rank: 40
DFEN Sharpe Ratio Rank: 41
DFEN Sortino Ratio Rank: 42
DFEN Omega Ratio Rank: 37
DFEN Calmar Ratio Rank: 46
DFEN Martin Ratio Rank: 36

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.

ASGI vs. DFEN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Abrdn Global Infrastructure Income Fund (ASGI) and Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN). 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.

	ASGI	DFEN	Difference
Sharpe ratio: Return per unit of total volatility	1.28	1.40	-0.11
Sortino ratio: Return per unit of downside risk	1.77	2.04	-0.28
Omega ratio: Gain probability vs. loss probability	1.24	1.24	0.00
Calmar ratio: Return relative to maximum drawdown	1.62	2.21	-0.59
Martin ratio: Return relative to average drawdown	5.30	5.08	+0.22

ASGI vs. DFEN - Sharpe Ratio Comparison

The current ASGI Sharpe Ratio is 1.28, which is comparable to the DFEN Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of ASGI and DFEN, 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

ASGI vs. DFEN - Drawdown Comparison

The maximum ASGI drawdown since its inception was -23.71%, smaller than the maximum DFEN drawdown of -91.36%. Use the drawdown chart below to compare losses from any high point for ASGI and DFEN.

Drawdown Indicators

	ASGI	DFEN	Difference
Max Drawdown Largest peak-to-trough decline	-23.71%	-91.36%	+67.65%
Max Drawdown (1Y) Largest decline over 1 year	-15.15%	-41.75%	+26.60%
Max Drawdown (3Y) Largest decline over 3 years	-16.24%	-43.13%	+26.89%
Max Drawdown (5Y) Largest decline over 5 years	-22.49%	-55.30%	+32.81%
Current Drawdown Current decline from peak	-10.10%	-20.73%	+10.63%
Average Drawdown Average peak-to-trough decline	-5.98%	-45.15%	+39.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.62%	18.16%	-13.54%

Volatility

ASGI vs. DFEN - Volatility Comparison

The current volatility for Abrdn Global Infrastructure Income Fund (ASGI) is 6.98%, while Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) has a volatility of 25.14%. This indicates that ASGI experiences smaller price fluctuations and is considered to be less risky than DFEN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ASGI	DFEN	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.98%	25.14%	-18.16%
Volatility (6M) Calculated over the trailing 6-month period	17.03%	56.03%	-39.00%
Volatility (1Y) Calculated over the trailing 1-year period	19.15%	66.17%	-47.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.80%	60.80%	-44.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.52%	71.64%	-54.12%

ASGI vs. DFEN - Expense Ratio Comparison

ASGI has a 1.65% expense ratio, which is higher than DFEN's 0.96% expense ratio.

Dividends

ASGI vs. DFEN - Dividend Comparison

ASGI's dividend yield for the trailing twelve months is around 11.68%, more than DFEN's 7.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
ASGI Abrdn Global Infrastructure Income Fund	11.68%	10.96%	12.84%	8.03%	8.25%	6.33%	1.76%	0.00%	0.00%	0.00%
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares	7.38%	8.89%	14.12%	1.13%	0.46%	1.89%	0.48%	0.50%	1.07%	1.50%

Frequently Asked Questions

Can I hold both ASGI and DFEN in my portfolio?

ASGI and DFEN have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ASGI or DFEN?

DFEN has higher volatility (25.14%) compared to ASGI (6.98%). In terms of maximum drawdown, ASGI dropped -23.71% vs DFEN's -91.36%.

Which has better risk-adjusted returns?

DFEN currently has the higher Sharpe Ratio (1.40 vs 1.28), 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.