BIDG vs. DFEN

Last updated Jun 5, 2026

BIDG (Leverage Shares 2X Long BIDU Daily ETF) and DFEN (Direxion Daily Aerospace & Defense Bull 3X Shares) are both Leveraged Equities funds - BIDG tracks the Baidu, Inc. (BIDU) while DFEN tracks the Dow Jones U.S. Select Aerospace & Defense Index (300%). Both are passively managed. At a 0.39 correlation, their price movements are largely independent. BIDG charges 0.75%/yr vs 0.99%/yr for DFEN.

Performance

BIDG vs. DFEN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long BIDU Daily ETF (BIDG) and Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BIDG achieves a -8.59% return, which is significantly lower than DFEN's 11.16% return.

BIDG

• 1D: 3.13%
• 1M: 9.71%
• YTD: -8.59%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DFEN

• 1D: 8.80%
• 1M: 20.99%
• YTD: 11.16%
• 6M: 26.30%
• 1Y: 71.41%
• 3Y*: 69.28%
• 5Y*: 28.69%
• 10Y*: —

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

BIDG vs. DFEN - Yearly Performance Comparison

	2026 (YTD)	2025
BIDG Leverage Shares 2X Long BIDU Daily ETF	-8.59%	16.79%
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares	11.16%	8.34%

Correlation

The correlation between BIDG and DFEN is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 19, 2025	0.39

Return for Risk

BIDG vs. DFEN — Risk / Return Rank

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

DFEN

DFEN Risk / Return Rank: 33
DFEN Sharpe Ratio Rank: 32
DFEN Sortino Ratio Rank: 34
DFEN Omega Ratio Rank: 32
DFEN Calmar Ratio Rank: 36
DFEN Martin Ratio Rank: 29

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.

BIDG vs. DFEN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long BIDU Daily ETF (BIDG) and Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	BIDG	DFEN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.13	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.48	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.15	0.23	-0.07

Drawdowns

BIDG vs. DFEN - Drawdown Comparison

The maximum BIDG drawdown since its inception was -59.34%, smaller than the maximum DFEN drawdown of -91.36%. Use the drawdown chart below to compare losses from any high point for BIDG and DFEN.

Drawdown Indicators

	BIDG	DFEN	Difference
Max Drawdown Largest peak-to-trough decline	-59.34%	-91.36%	+32.02%
Max Drawdown (1Y) Largest decline over 1 year	—	-41.75%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-43.13%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-56.23%	—
Current Drawdown Current decline from peak	-39.18%	-27.15%	-12.03%
Average Drawdown Average peak-to-trough decline	-32.33%	-45.26%	+12.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	17.45%	—

Volatility

Volatility by Period

	BIDG	DFEN	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	23.68%	—
Volatility (6M) Calculated over the trailing 6-month period	—	53.64%	—
Volatility (1Y) Calculated over the trailing 1-year period	102.62%	63.76%	+38.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	102.62%	60.27%	+42.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	102.62%	71.52%	+31.10%

BIDG vs. DFEN - Expense Ratio Comparison

BIDG has a 0.75% expense ratio, which is lower than DFEN's 0.99% expense ratio.

Dividends

BIDG vs. DFEN - Dividend Comparison

BIDG has not paid dividends to shareholders, while DFEN's dividend yield for the trailing twelve months is around 8.03%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BIDG Leverage Shares 2X Long BIDU Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares	8.03%	8.89%	14.12%	1.13%	0.46%	1.89%	0.48%	0.50%	1.07%	1.50%

Frequently Asked Questions

Can I hold both BIDG and DFEN in my portfolio?

BIDG and DFEN have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BIDG or DFEN?

On fees, BIDG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BIDG or DFEN?

BIDG is cheaper with a 0.75% expense ratio, compared with 0.99% for DFEN.

Which ETF pays a higher dividend yield, BIDG or DFEN?

DFEN has the higher dividend yield at 8.03%, compared with 0.00% for BIDG.

What is the main difference between BIDG and DFEN?

BIDG tracks Baidu, Inc. (BIDU), while DFEN tracks Dow Jones U.S. Select Aerospace & Defense Index (300%). They also come from different issuers: Leverage Shares and Direxion. Their fees differ too: 0.75% for BIDG and 0.99% for DFEN.