AVL vs. SKRE

Last updated Jul 15, 2026

AVL (Direxion Daily AVGO Bull 2X Shares) and SKRE (Tuttle Capital Daily 2X Inverse Regional Banks ETF) are both exchange-traded funds - AVL is a Leveraged Equities fund actively managed by Direxion, while SKRE is a Inverse Equities fund tracking the S&P Regional Banks Select Industry. AVL is actively managed, while SKRE is passively managed. Over the past year, AVL returned 46.06% vs -39.11% for SKRE. At a correlation of -0.16, they often move in opposite directions. AVL charges 1.04%/yr vs 0.75%/yr for SKRE.

Performance

AVL vs. SKRE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily AVGO Bull 2X Shares (AVL) and Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVL achieves a 6.46% return, which is significantly higher than SKRE's -31.36% return.

AVL

• 1D: 3.07%
• 1M: 1.32%
• 6M: 2.28%
• YTD: 6.46%
• 1Y: 46.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SKRE

• 1D: 0.17%
• 1M: -5.94%
• 6M: -28.23%
• YTD: -31.36%
• 1Y: -39.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AVL vs. SKRE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AVL Direxion Daily AVGO Bull 2X Shares	6.46%	54.38%	38.75%
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF	-31.36%	-31.29%	-21.84%

Correlation

The correlation between AVL and SKRE is -0.02, 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 (1Y) Calculated over the trailing 1-year period	-0.02
Correlation (All Time) Calculated using the full available price history since Oct 10, 2024	-0.16

The correlation between AVL and SKRE shifts across timeframes, from -0.16 (all time) to -0.02 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

AVL vs. SKRE — Risk / Return Rank

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

AVL

AVL Risk / Return Rank: 23
AVL Sharpe Ratio Rank: 19
AVL Sortino Ratio Rank: 28
AVL Omega Ratio Rank: 29
AVL Calmar Ratio Rank: 23
AVL Martin Ratio Rank: 19

SKRE

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

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.

AVL vs. SKRE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily AVGO Bull 2X Shares (AVL) and Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE). 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.

	AVL	SKRE	Difference
Sharpe ratio: Return per unit of total volatility	0.49	-0.85	+1.34
Sortino ratio: Return per unit of downside risk	1.30	-1.18	+2.48
Omega ratio: Gain probability vs. loss probability	1.17	0.86	+0.30
Calmar ratio: Return relative to maximum drawdown	0.86	-0.80	+1.66
Martin ratio: Return relative to average drawdown	1.70	-1.37	+3.08

AVL vs. SKRE - Sharpe Ratio Comparison

The current AVL Sharpe Ratio is 0.49, which is higher than the SKRE Sharpe Ratio of -0.85. The chart below compares the historical Sharpe Ratios of AVL and SKRE, 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

AVL vs. SKRE - Drawdown Comparison

The maximum AVL drawdown since its inception was -70.63%, smaller than the maximum SKRE drawdown of -78.32%. Use the drawdown chart below to compare losses from any high point for AVL and SKRE.

Drawdown Indicators

	AVL	SKRE	Difference
Max Drawdown Largest peak-to-trough decline	-70.63%	-78.32%	+7.69%
Max Drawdown (1Y) Largest decline over 1 year	-53.69%	-49.07%	-4.62%
Current Drawdown Current decline from peak	-38.74%	-77.74%	+39.00%
Average Drawdown Average peak-to-trough decline	-24.36%	-48.43%	+24.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.15%	28.47%	-1.32%

Volatility

AVL vs. SKRE - Volatility Comparison

Direxion Daily AVGO Bull 2X Shares (AVL) has a higher volatility of 29.30% compared to Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE) at 11.41%. This indicates that AVL's price experiences larger fluctuations and is considered to be riskier than SKRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVL	SKRE	Difference
Volatility (1M) Calculated over the trailing 1-month period	29.30%	11.41%	+17.89%
Volatility (6M) Calculated over the trailing 6-month period	69.35%	32.27%	+37.08%
Volatility (1Y) Calculated over the trailing 1-year period	93.90%	46.43%	+47.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	107.18%	55.10%	+52.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	107.18%	55.10%	+52.08%

AVL vs. SKRE - Expense Ratio Comparison

AVL has a 1.04% expense ratio, which is higher than SKRE's 0.75% expense ratio.

Dividends

AVL vs. SKRE - Dividend Comparison

AVL's dividend yield for the trailing twelve months is around 27.88%, more than SKRE's 0.37% yield.

Position	TTM	2025	2024
AVL Direxion Daily AVGO Bull 2X Shares	27.88%	29.04%	0.22%
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF	0.37%	0.26%	3.16%

Frequently Asked Questions

Can I hold both AVL and SKRE in my portfolio?

AVL and SKRE have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVL or SKRE?

AVL has higher volatility (29.30%) compared to SKRE (11.41%). In terms of maximum drawdown, AVL dropped -70.63% vs SKRE's -78.32%.

Which ETF is better, AVL or SKRE?

On 1-year performance, AVL leads with 46.06% vs -39.11% for SKRE. On fees, SKRE is cheaper at 0.75% per year. On volatility, SKRE has been the lower-risk option at 11.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVL or SKRE?

Over the 1-year period, AVL has performed better with a 46.06% return vs -39.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVL or SKRE?

SKRE is cheaper with a 0.75% expense ratio, compared with 1.04% for AVL.

Which ETF pays a higher dividend yield, AVL or SKRE?

AVL has the higher dividend yield at 27.88%, compared with 0.37% for SKRE.

What is the main difference between AVL and SKRE?

AVL is categorized as Leveraged Equities, while SKRE is Inverse Equities. They also come from different issuers: Direxion and Tuttle. Their fees differ too: 1.04% for AVL and 0.75% for SKRE.

Which has better risk-adjusted returns?

AVL currently has the higher Sharpe Ratio (0.49 vs -0.85), 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.