AVMU vs. ERX
AVMU (Avantis Core Municipal Fixed Income ETF) and ERX (Direxion Daily Energy Bull 2X Shares) are both exchange-traded funds - AVMU is a Municipal Bonds fund actively managed by American Century, while ERX is a Leveraged Equities fund tracking the Energy Select Sector Index (300%). AVMU is actively managed, while ERX is passively managed. Over the past 5 years, AVMU returned 0.95%/yr vs 28.75%/yr for ERX. At a correlation of -0.10, they often move in opposite directions. AVMU charges 0.15%/yr vs 1.09%/yr for ERX.
Performance
AVMU vs. ERX - Performance Comparison
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Returns By Period
In the year-to-date period, AVMU achieves a 1.71% return, which is significantly lower than ERX's 66.93% return.
AVMU
- 1D
- 0.06%
- 1M
- 0.54%
- YTD
- 1.71%
- 6M
- 2.83%
- 1Y
- 8.50%
- 3Y*
- 3.75%
- 5Y*
- 0.95%
- 10Y*
- —
ERX
- 1D
- 2.68%
- 1M
- -3.38%
- YTD
- 66.93%
- 6M
- 59.74%
- 1Y
- 90.37%
- 3Y*
- 23.69%
- 5Y*
- 28.75%
- 10Y*
- -8.79%
AVMU vs. ERX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
AVMU Avantis Core Municipal Fixed Income ETF | 1.71% | 3.87% | 1.72% | 5.18% | -7.33% | 0.27% | 0.19% |
ERX Direxion Daily Energy Bull 2X Shares | 66.93% | 2.79% | 1.09% | -12.26% | 130.58% | 111.91% | -15.36% |
Correlation
The correlation between AVMU and ERX is -0.21, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since Dec 11, 2020 | -0.10 |
The correlation between AVMU and ERX shifts across timeframes, from -0.21 (1 year) to -0.09 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
AVMU vs. ERX — Risk / Return Rank
AVMU
ERX
AVMU vs. ERX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Avantis Core Municipal Fixed Income ETF (AVMU) 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.
| AVMU | ERX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.41 | ||
| Sortino ratioReturn per unit of downside risk | +1.34 | ||
| Omega ratioGain probability vs. loss probability | 1.56 | 1.32 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 2.57 | 3.89 | -1.32 |
| Martin ratioReturn relative to average drawdown | 9.69 | 10.60 | -0.90 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AVMU | ERX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.62 | 2.21 | +0.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.23 | 0.56 | -0.32 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.13 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.24 | -0.09 | +0.32 |
Drawdowns
AVMU vs. ERX - Drawdown Comparison
The maximum AVMU drawdown since its inception was -12.41%, smaller than the maximum ERX drawdown of -99.54%. Use the drawdown chart below to compare losses from any high point for AVMU and ERX.
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Drawdown Indicators
| AVMU | ERX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.41% | -99.54% | +87.13% |
Max Drawdown (1Y)Largest decline over 1 year | -3.32% | -23.34% | +20.02% |
Max Drawdown (3Y)Largest decline over 3 years | -6.38% | -42.34% | +35.96% |
Max Drawdown (5Y)Largest decline over 5 years | -12.41% | -46.90% | +34.49% |
Max Drawdown (10Y)Largest decline over 10 years | — | -98.59% | — |
Current DrawdownCurrent decline from peak | -0.53% | -91.57% | +91.04% |
Average DrawdownAverage peak-to-trough decline | -3.77% | -67.02% | +63.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 8.57% | -7.69% |
Volatility
AVMU vs. ERX - Volatility Comparison
The current volatility for Avantis Core Municipal Fixed Income ETF (AVMU) is 1.19%, while Direxion Daily Energy Bull 2X Shares (ERX) has a volatility of 16.49%. This indicates that AVMU experiences smaller price fluctuations and is considered to be less risky than ERX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AVMU | ERX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.19% | 16.49% | -15.30% |
Volatility (6M)Calculated over the trailing 6-month period | 2.31% | 33.45% | -31.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.26% | 41.14% | -37.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.13% | 51.98% | -47.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.99% | 69.18% | -65.19% |
AVMU vs. ERX - Expense Ratio Comparison
AVMU has a 0.15% expense ratio, which is lower than ERX's 1.09% expense ratio.
Dividends
AVMU vs. ERX - Dividend Comparison
AVMU's dividend yield for the trailing twelve months is around 3.22%, more than ERX's 1.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
AVMU Avantis Core Municipal Fixed Income ETF | 3.22% | 3.50% | 3.32% | 2.50% | 1.29% | 0.77% | 0.00% | 0.00% | 0.00% | 0.00% |
ERX Direxion Daily Energy Bull 2X Shares | 1.61% | 2.54% | 2.94% | 3.17% | 2.23% | 2.16% | 2.35% | 1.56% | 3.10% | 0.85% |
Frequently Asked Questions
AVMU and ERX have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ERX has higher volatility (16.49%) compared to AVMU (1.19%). In terms of maximum drawdown, AVMU dropped -12.41% vs ERX's -99.54%.
On 5-year performance, ERX leads with 28.75% vs 0.95% for AVMU. On fees, AVMU is cheaper at 0.15% per year. On volatility, AVMU has been the lower-risk option at 1.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, ERX has performed better with a 28.75% return vs 0.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AVMU is cheaper with a 0.15% expense ratio, compared with 1.09% for ERX.
AVMU has the higher dividend yield at 3.22%, compared with 1.61% for ERX.
AVMU is categorized as Municipal Bonds, while ERX is Leveraged Equities. They also come from different issuers: American Century and Direxion. Their fees differ too: 0.15% for AVMU and 1.09% for ERX.
AVMU currently has the higher Sharpe Ratio (2.62 vs 2.21), 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.
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