AVS vs. IGM
AVS (Direxion Daily AVGO Bear 1X Shares) and IGM (iShares Expanded Tech Sector ETF) are both exchange-traded funds - AVS is a Inverse Equities fund actively managed by Direxion, while IGM is a Technology Equities fund tracking the S&P North American Expanded Technology Sector Index. AVS is actively managed, while IGM is passively managed. Over the past year, AVS returned -40.93% vs 44.14% for IGM. At a correlation of -0.75, they often move in opposite directions. AVS charges 0.98%/yr vs 0.39%/yr for IGM.
Performance
AVS vs. IGM - Performance Comparison
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Returns By Period
In the year-to-date period, AVS achieves a -16.68% return, which is significantly lower than IGM's 21.80% return.
AVS
- 1D
- -0.51%
- 1M
- 4.24%
- YTD
- -16.68%
- 6M
- -15.57%
- 1Y
- -40.93%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IGM
- 1D
- -0.69%
- 1M
- 0.05%
- YTD
- 21.80%
- 6M
- 19.91%
- 1Y
- 44.14%
- 3Y*
- 35.36%
- 5Y*
- 19.12%
- 10Y*
- 24.77%
AVS vs. IGM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
AVS Direxion Daily AVGO Bear 1X Shares | -16.68% | -45.96% | -27.15% |
IGM iShares Expanded Tech Sector ETF | 21.80% | 26.76% | 4.36% |
Correlation
The correlation between AVS and IGM is -0.75, 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 | -0.75 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2024 | -0.75 |
The correlation between AVS and IGM has been stable across timeframes, ranging from -0.75 to -0.75 - a consistent structural relationship.
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Return for Risk
AVS vs. IGM — Risk / Return Rank
AVS
IGM
AVS vs. IGM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily AVGO Bear 1X Shares (AVS) and iShares Expanded Tech Sector ETF (IGM). 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.
| AVS | IGM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.84 | ||
| Sortino ratioReturn per unit of downside risk | -3.72 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.33 | -0.48 |
| Calmar ratioReturn relative to maximum drawdown | -0.80 | 2.70 | -3.50 |
| Martin ratioReturn relative to average drawdown | -1.41 | 8.97 | -10.38 |
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Drawdowns
AVS vs. IGM - Drawdown Comparison
The maximum AVS drawdown since its inception was -76.77%, which is greater than IGM's maximum drawdown of -65.59%. Use the drawdown chart below to compare losses from any high point for AVS and IGM.
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Drawdown Indicators
| AVS | IGM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.77% | -65.59% | -11.18% |
Max Drawdown (1Y)Largest decline over 1 year | -51.29% | -16.44% | -34.85% |
Max Drawdown (3Y)Largest decline over 3 years | — | -26.39% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -40.68% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -40.68% | — |
Current DrawdownCurrent decline from peak | -71.72% | -8.03% | -63.69% |
Average DrawdownAverage peak-to-trough decline | -49.51% | -15.21% | -34.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.24% | 4.94% | +24.30% |
Volatility
AVS vs. IGM - Volatility Comparison
Direxion Daily AVGO Bear 1X Shares (AVS) has a higher volatility of 20.67% compared to iShares Expanded Tech Sector ETF (IGM) at 11.52%. This indicates that AVS's price experiences larger fluctuations and is considered to be riskier than IGM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AVS | IGM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.67% | 11.52% | +9.15% |
Volatility (6M)Calculated over the trailing 6-month period | 33.02% | 18.62% | +14.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.66% | 22.76% | +23.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 54.05% | 26.07% | +27.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.05% | 24.71% | +29.34% |
AVS vs. IGM - Expense Ratio Comparison
AVS has a 0.98% expense ratio, which is higher than IGM's 0.39% expense ratio.
Dividends
AVS vs. IGM - Dividend Comparison
AVS's dividend yield for the trailing twelve months is around 3.48%, more than IGM's 0.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AVS Direxion Daily AVGO Bear 1X Shares | 3.48% | 4.22% | 1.63% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IGM iShares Expanded Tech Sector ETF | 0.14% | 0.17% | 0.22% | 0.33% | 0.66% | 0.16% | 0.32% | 0.50% | 0.57% | 0.57% | 0.90% | 0.79% |
Frequently Asked Questions
AVS and IGM have a correlation of -0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AVS has higher volatility (20.67%) compared to IGM (11.52%). In terms of maximum drawdown, AVS dropped -76.77% vs IGM's -65.59%.
On 1-year performance, IGM leads with 44.14% vs -40.93% for AVS. On fees, IGM is cheaper at 0.39% per year. On volatility, IGM has been the lower-risk option at 11.52%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IGM has performed better with a 44.14% return vs -40.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IGM is cheaper with a 0.39% expense ratio, compared with 0.98% for AVS.
AVS has the higher dividend yield at 3.48%, compared with 0.14% for IGM.
AVS is categorized as Inverse Equities, while IGM is Technology Equities. They also come from different issuers: Direxion and iShares. Their fees differ too: 0.98% for AVS and 0.39% for IGM.
IGM currently has the higher Sharpe Ratio (1.95 vs -0.88), 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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