BITX vs. NAIL
BITX (2x Bitcoin Strategy ETF) and NAIL (Direxion Daily Homebuilders & Supplies Bull 3X Shares) are both exchange-traded funds - BITX is a Cryptocurrency fund tracking the S&P CME Bitcoin Futures Daily Roll Index (200%), while NAIL is a Leveraged Equities fund tracking the Dow Jones U.S. Select Home Construction Index (300%). Both are passively managed. Over the past year, BITX returned -73.99% vs -22.27% for NAIL. At a 0.21 correlation, their price movements are largely independent. BITX charges 2.38%/yr vs 0.99%/yr for NAIL.
Performance
BITX vs. NAIL - Performance Comparison
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Returns By Period
In the year-to-date period, BITX achieves a -55.64% return, which is significantly lower than NAIL's -23.54% return.
BITX
- 1D
- 9.87%
- 1M
- -39.25%
- YTD
- -55.64%
- 6M
- -59.53%
- 1Y
- -73.99%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NAIL
- 1D
- -0.92%
- 1M
- -3.69%
- YTD
- -23.54%
- 6M
- -33.60%
- 1Y
- -22.27%
- 3Y*
- -13.87%
- 5Y*
- -13.16%
- 10Y*
- 3.80%
BITX vs. NAIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BITX 2x Bitcoin Strategy ETF | -55.64% | -38.71% | 163.41% | 46.18% |
NAIL Direxion Daily Homebuilders & Supplies Bull 3X Shares | -23.54% | -40.43% | -22.83% | 60.60% |
Correlation
The correlation between BITX and NAIL is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2023 | 0.21 |
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Return for Risk
BITX vs. NAIL — Risk / Return Rank
BITX
NAIL
BITX vs. NAIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for 2x Bitcoin Strategy ETF (BITX) and Direxion Daily Homebuilders & Supplies Bull 3X Shares (NAIL). 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.
| BITX | NAIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.59 | ||
| Sortino ratioReturn per unit of downside risk | -1.68 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.02 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.90 | -0.33 | -0.57 |
| Martin ratioReturn relative to average drawdown | -1.46 | -0.58 | -0.88 |
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
| BITX | NAIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.85 | -0.26 | -0.59 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.15 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.04 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.02 | -0.00 | +0.02 |
Drawdowns
BITX vs. NAIL - Drawdown Comparison
The maximum BITX drawdown since its inception was -82.16%, smaller than the maximum NAIL drawdown of -93.75%. Use the drawdown chart below to compare losses from any high point for BITX and NAIL.
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Drawdown Indicators
| BITX | NAIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.16% | -93.75% | +11.59% |
Max Drawdown (1Y)Largest decline over 1 year | -82.16% | -67.85% | -14.31% |
Max Drawdown (3Y)Largest decline over 3 years | — | -82.09% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -84.40% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -93.75% | — |
Current DrawdownCurrent decline from peak | -80.39% | -78.15% | -2.24% |
Average DrawdownAverage peak-to-trough decline | -31.90% | -43.83% | +11.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 50.80% | 38.74% | +12.06% |
Volatility
BITX vs. NAIL - Volatility Comparison
2x Bitcoin Strategy ETF (BITX) has a higher volatility of 23.70% compared to Direxion Daily Homebuilders & Supplies Bull 3X Shares (NAIL) at 21.13%. This indicates that BITX's price experiences larger fluctuations and is considered to be riskier than NAIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BITX | NAIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.70% | 21.13% | +2.57% |
Volatility (6M)Calculated over the trailing 6-month period | 69.45% | 60.31% | +9.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 87.88% | 87.48% | +0.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 98.49% | 86.98% | +11.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 98.49% | 89.20% | +9.29% |
BITX vs. NAIL - Expense Ratio Comparison
BITX has a 2.38% expense ratio, which is higher than NAIL's 0.99% expense ratio.
Dividends
BITX vs. NAIL - Dividend Comparison
BITX's dividend yield for the trailing twelve months is around 35.74%, more than NAIL's 1.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BITX 2x Bitcoin Strategy ETF | 35.74% | 21.69% | 10.70% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
NAIL Direxion Daily Homebuilders & Supplies Bull 3X Shares | 1.04% | 1.55% | 0.63% | 0.22% | 0.00% | 0.00% | 0.01% | 0.17% | 0.35% | 1.25% |
Frequently Asked Questions
BITX and NAIL have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITX has higher volatility (23.70%) compared to NAIL (21.13%). In terms of maximum drawdown, BITX dropped -82.16% vs NAIL's -93.75%.
On 1-year performance, NAIL leads with -22.27% vs -73.99% for BITX. On fees, NAIL is cheaper at 0.99% per year. On volatility, NAIL has been the lower-risk option at 21.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, NAIL has performed better with a -22.27% return vs -73.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NAIL is cheaper with a 0.99% expense ratio, compared with 2.38% for BITX.
BITX has the higher dividend yield at 35.74%, compared with 1.04% for NAIL.
BITX is categorized as Cryptocurrency, while NAIL is Leveraged Equities. BITX tracks S&P CME Bitcoin Futures Daily Roll Index (200%), while NAIL tracks Dow Jones U.S. Select Home Construction Index (300%). They also come from different issuers: Volatility Shares and Direxion. Their fees differ too: 2.38% for BITX and 0.99% for NAIL.
NAIL currently has the higher Sharpe Ratio (-0.26 vs -0.85), 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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