BALI vs. NFXS

Last updated Jun 24, 2026

BALI (Blackrock Advantage Large Cap Income ETF) and NFXS (Direxion Daily NFLX Bear 1X Shares) are both exchange-traded funds - BALI is a Derivative Income fund actively managed by BlackRock, while NFXS is a Inverse Equities fund actively managed by Direxion. Both are actively managed. Over the past year, BALI returned 22.98% vs 64.26% for NFXS. At a correlation of -0.35, they often move in opposite directions. BALI charges 0.35%/yr vs 1.03%/yr for NFXS.

Performance

BALI vs. NFXS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Blackrock Advantage Large Cap Income ETF (BALI) and Direxion Daily NFLX Bear 1X Shares (NFXS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BALI achieves a 8.90% return, which is significantly lower than NFXS's 24.21% return.

BALI

• 1D: -1.07%
• 1M: -1.38%
• YTD: 8.90%
• 6M: 8.29%
• 1Y: 22.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NFXS

• 1D: 0.09%
• 1M: 21.28%
• YTD: 24.21%
• 6M: 24.00%
• 1Y: 64.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BALI vs. NFXS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BALI Blackrock Advantage Large Cap Income ETF	8.90%	14.51%	2.87%
NFXS Direxion Daily NFLX Bear 1X Shares	24.21%	-8.56%	-21.49%

Correlation

The correlation between BALI and NFXS is -0.25, 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	-0.25
Correlation (All Time) Calculated using the full available price history since Oct 3, 2024	-0.35

The correlation between BALI and NFXS shifts across timeframes, from -0.35 (all time) to -0.25 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

BALI vs. NFXS — Risk / Return Rank

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

BALI

BALI Risk / Return Rank: 74
BALI Sharpe Ratio Rank: 72
BALI Sortino Ratio Rank: 70
BALI Omega Ratio Rank: 73
BALI Calmar Ratio Rank: 71
BALI Martin Ratio Rank: 83

NFXS

NFXS Risk / Return Rank: 55
NFXS Sharpe Ratio Rank: 65
NFXS Sortino Ratio Rank: 60
NFXS Omega Ratio Rank: 68
NFXS Calmar Ratio Rank: 45
NFXS Martin Ratio Rank: 39

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.

BALI vs. NFXS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Blackrock Advantage Large Cap Income ETF (BALI) and Direxion Daily NFLX Bear 1X Shares (NFXS). 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.

	BALI	NFXS	Difference
Sharpe ratio: Return per unit of total volatility	2.21	1.91	+0.29
Sortino ratio: Return per unit of downside risk	3.03	2.55	+0.48
Omega ratio: Gain probability vs. loss probability	1.41	1.36	+0.05
Calmar ratio: Return relative to maximum drawdown	3.44	2.06	+1.38
Martin ratio: Return relative to average drawdown	16.45	5.64	+10.81

BALI vs. NFXS - Sharpe Ratio Comparison

The current BALI Sharpe Ratio is 2.21, which is comparable to the NFXS Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of BALI and NFXS, 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

BALI vs. NFXS - Drawdown Comparison

The maximum BALI drawdown since its inception was -16.65%, smaller than the maximum NFXS drawdown of -50.37%. Use the drawdown chart below to compare losses from any high point for BALI and NFXS.

Drawdown Indicators

	BALI	NFXS	Difference
Max Drawdown Largest peak-to-trough decline	-16.65%	-50.37%	+33.72%
Max Drawdown (1Y) Largest decline over 1 year	-6.71%	-31.31%	+24.60%
Current Drawdown Current decline from peak	-2.49%	-12.88%	+10.39%
Average Drawdown Average peak-to-trough decline	-1.63%	-31.93%	+30.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.40%	11.45%	-10.05%

Volatility

BALI vs. NFXS - Volatility Comparison

The current volatility for Blackrock Advantage Large Cap Income ETF (BALI) is 4.07%, while Direxion Daily NFLX Bear 1X Shares (NFXS) has a volatility of 7.74%. This indicates that BALI experiences smaller price fluctuations and is considered to be less risky than NFXS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BALI	NFXS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.07%	7.74%	-3.67%
Volatility (6M) Calculated over the trailing 6-month period	8.30%	26.22%	-17.92%
Volatility (1Y) Calculated over the trailing 1-year period	10.49%	33.81%	-23.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.02%	34.65%	-21.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.02%	34.65%	-21.63%

BALI vs. NFXS - Expense Ratio Comparison

BALI has a 0.35% expense ratio, which is lower than NFXS's 1.03% expense ratio.

Dividends

BALI vs. NFXS - Dividend Comparison

BALI's dividend yield for the trailing twelve months is around 7.83%, more than NFXS's 3.23% yield.

Position	TTM	2025	2024	2023
BALI Blackrock Advantage Large Cap Income ETF	7.83%	8.51%	7.13%	2.13%
NFXS Direxion Daily NFLX Bear 1X Shares	3.23%	3.53%	0.87%	0.00%

Frequently Asked Questions

Can I hold both BALI and NFXS in my portfolio?

BALI and NFXS 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, BALI or NFXS?

NFXS has higher volatility (7.74%) compared to BALI (4.07%). In terms of maximum drawdown, BALI dropped -16.65% vs NFXS's -50.37%.

Which ETF is better, BALI or NFXS?

On 1-year performance, NFXS leads with 64.26% vs 22.98% for BALI. On fees, BALI is cheaper at 0.35% per year. On volatility, BALI has been the lower-risk option at 4.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BALI or NFXS?

Over the 1-year period, NFXS has performed better with a 64.26% return vs 22.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BALI or NFXS?

BALI is cheaper with a 0.35% expense ratio, compared with 1.03% for NFXS.

Which ETF pays a higher dividend yield, BALI or NFXS?

BALI has the higher dividend yield at 7.83%, compared with 3.23% for NFXS.

What is the main difference between BALI and NFXS?

BALI is categorized as Derivative Income, while NFXS is Inverse Equities. They also come from different issuers: BlackRock and Direxion. Their fees differ too: 0.35% for BALI and 1.03% for NFXS.

Which has better risk-adjusted returns?

BALI currently has the higher Sharpe Ratio (2.21 vs 1.91), 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.