BERZ vs. BRKD
BERZ (MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN) and BRKD (Direxion Daily BRKB Bear 1X Shares) are both Inverse Equities funds - BERZ tracks the Solactive FANG Innovation Index while BRKD tracks the Berkshire Hathaway Inc. Class B (-100%). Both are passively managed. Over the past year, BERZ returned -86.22% vs 7.98% for BRKD. At a 0.07 correlation, their price movements are largely independent. BERZ charges 0.95%/yr vs 1.00%/yr for BRKD.
Performance
BERZ vs. BRKD - Performance Comparison
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Returns By Period
In the year-to-date period, BERZ achieves a -65.19% return, which is significantly lower than BRKD's 5.90% return.
BERZ
- 1D
- 3.73%
- 1M
- -37.37%
- YTD
- -65.19%
- 6M
- -64.50%
- 1Y
- -86.22%
- 3Y*
- -77.59%
- 5Y*
- —
- 10Y*
- —
BRKD
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 5.90%
- 6M
- 6.63%
- 1Y
- 7.98%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BERZ vs. BRKD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BERZ MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN | -65.19% | -78.81% | 12.25% |
BRKD Direxion Daily BRKB Bear 1X Shares | 5.90% | -6.69% | 2.19% |
Correlation
The correlation between BERZ and BRKD is -0.05, 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 | -0.05 |
Correlation (All Time) Calculated using the full available price history since Dec 12, 2024 | 0.07 |
The correlation between BERZ and BRKD shifts across timeframes, from -0.05 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BERZ vs. BRKD — Risk / Return Rank
BERZ
BRKD
BERZ vs. BRKD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN (BERZ) and Direxion Daily BRKB Bear 1X Shares (BRKD). 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.
| BERZ | BRKD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.74 | ||
| Sortino ratioReturn per unit of downside risk | -3.96 | ||
| Omega ratioGain probability vs. loss probability | 0.69 | 1.12 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | 0.86 | -1.85 |
| Martin ratioReturn relative to average drawdown | -1.54 | 1.67 | -3.21 |
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
| BERZ | BRKD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.14 | 0.60 | -1.74 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.75 | 0.04 | -0.79 |
Drawdowns
BERZ vs. BRKD - Drawdown Comparison
The maximum BERZ drawdown since its inception was -99.80%, which is greater than BRKD's maximum drawdown of -17.92%. Use the drawdown chart below to compare losses from any high point for BERZ and BRKD.
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Drawdown Indicators
| BERZ | BRKD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.80% | -17.92% | -81.88% |
Max Drawdown (1Y)Largest decline over 1 year | -87.32% | -9.34% | -77.98% |
Max Drawdown (3Y)Largest decline over 3 years | -98.97% | — | — |
Current DrawdownCurrent decline from peak | -99.79% | -3.69% | -96.10% |
Average DrawdownAverage peak-to-trough decline | -71.57% | -7.74% | -63.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 56.07% | 4.78% | +51.29% |
Volatility
BERZ vs. BRKD - Volatility Comparison
MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN (BERZ) has a higher volatility of 23.63% compared to Direxion Daily BRKB Bear 1X Shares (BRKD) at 0.00%. This indicates that BERZ's price experiences larger fluctuations and is considered to be riskier than BRKD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BERZ | BRKD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.63% | 0.00% | +23.63% |
Volatility (6M)Calculated over the trailing 6-month period | 57.98% | 9.21% | +48.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 75.77% | 13.36% | +62.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 92.20% | 17.26% | +74.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 92.20% | 17.26% | +74.94% |
BERZ vs. BRKD - Expense Ratio Comparison
BERZ has a 0.95% expense ratio, which is lower than BRKD's 1.00% expense ratio.
Dividends
BERZ vs. BRKD - Dividend Comparison
BERZ has not paid dividends to shareholders, while BRKD's dividend yield for the trailing twelve months is around 2.82%.
| Position | TTM | 2025 |
|---|---|---|
BERZ MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN | 0.00% | 0.00% |
BRKD Direxion Daily BRKB Bear 1X Shares | 2.82% | 3.50% |
Frequently Asked Questions
BERZ and BRKD have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BERZ has higher volatility (23.63%) compared to BRKD (0.00%). In terms of maximum drawdown, BERZ dropped -99.80% vs BRKD's -17.92%.
On 1-year performance, BRKD leads with 7.98% vs -86.22% for BERZ. On fees, BERZ is cheaper at 0.95% per year. On volatility, BRKD has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BRKD has performed better with a 7.98% return vs -86.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BERZ is cheaper with a 0.95% expense ratio, compared with 1.00% for BRKD.
BRKD has the higher dividend yield at 2.82%, compared with 0.00% for BERZ.
BERZ tracks Solactive FANG Innovation Index, while BRKD tracks Berkshire Hathaway Inc. Class B (-100%). They also come from different issuers: BMO and Direxion. Their fees differ too: 0.95% for BERZ and 1.00% for BRKD.
BRKD currently has the higher Sharpe Ratio (0.60 vs -1.14), 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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