BERZ vs. WEBS
BERZ (MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN) and WEBS (Daily Dow Jones Internet Bear 3X Shares) are both exchange-traded funds - BERZ is a Inverse Equities fund tracking the Solactive FANG Innovation Index, while WEBS is a Leveraged Equities fund tracking the Dow Jones Internet Composite Index (300%). Both are passively managed. Over the past 3 years, BERZ returned -75.61%/yr vs -45.74%/yr for WEBS. Their correlation of 0.85 suggests significant overlap in exposure. BERZ charges 0.95%/yr vs 1.07%/yr for WEBS.
Performance
BERZ vs. WEBS - Performance Comparison
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Returns By Period
In the year-to-date period, BERZ achieves a -60.32% return, which is significantly lower than WEBS's 2.94% return.
BERZ
- 1D
- 2.65%
- 1M
- -6.29%
- YTD
- -60.32%
- 6M
- -58.94%
- 1Y
- -83.28%
- 3Y*
- -75.61%
- 5Y*
- —
- 10Y*
- —
WEBS
- 1D
- 6.60%
- 1M
- 14.76%
- YTD
- 2.94%
- 6M
- 5.93%
- 1Y
- -15.14%
- 3Y*
- -45.74%
- 5Y*
- -31.53%
- 10Y*
- —
BERZ vs. WEBS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BERZ MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN | -60.32% | -78.81% | -65.95% | -89.12% | 102.85% | -28.36% |
WEBS Daily Dow Jones Internet Bear 3X Shares | 2.94% | -40.66% | -56.62% | -75.58% | 117.15% | 3.42% |
Correlation
The correlation between BERZ and WEBS is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Aug 18, 2021 | 0.85 |
The correlation between BERZ and WEBS shifts across timeframes, from 0.69 (1 year) to 0.85 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BERZ vs. WEBS — Risk / Return Rank
BERZ
WEBS
BERZ vs. WEBS - 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 Daily Dow Jones Internet Bear 3X Shares (WEBS). 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.
| BERZ | WEBS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.78 | ||
| Sortino ratioReturn per unit of downside risk | -2.51 | ||
| Omega ratioGain probability vs. loss probability | 0.74 | 1.00 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | -0.97 | -0.28 | -0.69 |
| Martin ratioReturn relative to average drawdown | -1.54 | -0.64 | -0.90 |
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Drawdowns
BERZ vs. WEBS - Drawdown Comparison
The maximum BERZ drawdown since its inception was -99.80%, roughly equal to the maximum WEBS drawdown of -99.63%. Use the drawdown chart below to compare losses from any high point for BERZ and WEBS.
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Drawdown Indicators
| BERZ | WEBS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.80% | -99.63% | -0.17% |
Max Drawdown (1Y)Largest decline over 1 year | -85.55% | -53.54% | -32.01% |
Max Drawdown (3Y)Largest decline over 3 years | -98.87% | -90.33% | -8.54% |
Max Drawdown (5Y)Largest decline over 5 years | — | -97.09% | — |
Current DrawdownCurrent decline from peak | -99.76% | -99.50% | -0.26% |
Average DrawdownAverage peak-to-trough decline | -71.79% | -91.10% | +19.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 55.40% | 24.90% | +30.50% |
Volatility
BERZ vs. WEBS - Volatility Comparison
MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN (BERZ) has a higher volatility of 32.14% compared to Daily Dow Jones Internet Bear 3X Shares (WEBS) at 22.49%. This indicates that BERZ's price experiences larger fluctuations and is considered to be riskier than WEBS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BERZ | WEBS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 32.14% | 22.49% | +9.65% |
Volatility (6M)Calculated over the trailing 6-month period | 63.10% | 46.58% | +16.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 80.60% | 59.91% | +20.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 92.68% | 82.13% | +10.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 92.68% | 89.79% | +2.89% |
BERZ vs. WEBS - Expense Ratio Comparison
BERZ has a 0.95% expense ratio, which is lower than WEBS's 1.07% expense ratio.
Dividends
BERZ vs. WEBS - Dividend Comparison
BERZ has not paid dividends to shareholders, while WEBS's dividend yield for the trailing twelve months is around 3.17%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BERZ MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
WEBS Daily Dow Jones Internet Bear 3X Shares | 3.17% | 3.77% | 8.02% | 8.51% | 0.20% | 0.00% | 1.11% | 0.11% |
Frequently Asked Questions
BERZ and WEBS have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BERZ has higher volatility (32.14%) compared to WEBS (22.49%). In terms of maximum drawdown, BERZ dropped -99.80% vs WEBS's -99.63%.
On 3-year performance, WEBS leads with -45.74% vs -75.61% for BERZ. On fees, BERZ is cheaper at 0.95% per year. On volatility, WEBS has been the lower-risk option at 22.49%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, WEBS has performed better with a -45.74% return vs -75.61%. 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 1.07% for WEBS.
WEBS has the higher dividend yield at 3.17%, compared with 0.00% for BERZ.
BERZ is categorized as Inverse Equities, while WEBS is Leveraged Equities. BERZ tracks Solactive FANG Innovation Index, while WEBS tracks Dow Jones Internet Composite Index (300%). They also come from different issuers: BMO and Direxion. Their fees differ too: 0.95% for BERZ and 1.07% for WEBS.
WEBS currently has the higher Sharpe Ratio (-0.25 vs -1.04), 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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