BERZ vs. TZA
Compare and contrast key facts about MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN (BERZ) and Direxion Daily Small Cap Bear 3X Shares (TZA).
BERZ and TZA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BERZ is a passively managed fund by BMO Financial Group that tracks the performance of the Solactive FANG Innovation Index. It was launched on Aug 17, 2021. TZA is a passively managed fund by Direxion that tracks the performance of the Russell 2000 Index (-300%). It was launched on Nov 5, 2008. Both BERZ and TZA are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: BERZ or TZA.
Key characteristics
| BERZ | TZA | |
|---|---|---|
| YTD Return | -55.75% | -28.88% |
| 1Y Return | -71.86% | -55.19% |
| 3Y Return (Ann) | -53.37% | -13.02% |
| Sharpe Ratio | -1.04 | -0.94 |
| Sortino Ratio | -2.13 | -1.45 |
| Omega Ratio | 0.77 | 0.83 |
| Calmar Ratio | -0.76 | -0.59 |
| Martin Ratio | -1.29 | -1.22 |
| Ulcer Index | 56.67% | 48.04% |
| Daily Std Dev | 70.15% | 62.38% |
| Max Drawdown | -96.72% | -100.00% |
| Current Drawdown | -96.31% | -100.00% |
Correlation
The correlation between BERZ and TZA is 0.70, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
BERZ vs. TZA - Performance Comparison
In the year-to-date period, BERZ achieves a -55.75% return, which is significantly lower than TZA's -28.88% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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BERZ vs. TZA - Expense Ratio Comparison
BERZ has a 0.95% expense ratio, which is lower than TZA's 1.11% expense ratio.
Risk-Adjusted Performance
BERZ vs. TZA - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN (BERZ) and Direxion Daily Small Cap Bear 3X Shares (TZA). 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.
Dividends
BERZ vs. TZA - Dividend Comparison
BERZ has not paid dividends to shareholders, while TZA's dividend yield for the trailing twelve months is around 5.30%.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|
BERZ MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TZA Direxion Daily Small Cap Bear 3X Shares | 5.30% | 5.49% | 0.00% | 0.00% | 1.21% | 1.57% | 0.63% |
Drawdowns
BERZ vs. TZA - Drawdown Comparison
The maximum BERZ drawdown since its inception was -96.72%, roughly equal to the maximum TZA drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for BERZ and TZA. For additional features, visit the drawdowns tool.
Volatility
BERZ vs. TZA - Volatility Comparison
MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN (BERZ) has a higher volatility of 17.83% compared to Direxion Daily Small Cap Bear 3X Shares (TZA) at 13.28%. This indicates that BERZ's price experiences larger fluctuations and is considered to be riskier than TZA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.