BRKD vs. PWV
BRKD (Direxion Daily BRKB Bear 1X Shares) and PWV (Invesco Large Cap Value ETF) are both exchange-traded funds - BRKD is a Inverse Equities fund tracking the Berkshire Hathaway Inc. Class B (-100%), while PWV is a Large Cap Value Equities fund tracking the Dynamic Large Cap Value Intellidex Index (AMEX). Both are passively managed. Over the past year, BRKD returned -1.36% vs 32.17% for PWV. Their -0.53 correlation means they have often moved in opposite directions in the past. BRKD charges 1.00%/yr vs 0.55%/yr for PWV.
Performance
BRKD vs. PWV - Performance Comparison
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Returns By Period
In the year-to-date period, BRKD achieves a 5.90% return, which is significantly lower than PWV's 21.70% return.
BRKD
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 3.48%
- YTD
- 5.90%
- 1Y
- -1.36%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 0.59%
PWV
- 1D
- 0.26%
- 1M
- 3.33%
- 6M
- 17.13%
- YTD
- 21.70%
- 1Y
- 32.17%
- 3Y*
- 21.05%
- 5Y*
- 15.05%
- 10Y*
- 12.24%
- ALL TIME*
- 10.53%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $15.76M | $10.00M | $5.86M |
BRKD vs. PWV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BRKD Direxion Daily BRKB Bear 1X Shares | 5.90% | -6.69% | 2.19% |
PWV Invesco Large Cap Value ETF | 21.70% | 19.65% | -3.61% |
Correlation
The correlation between BRKD and PWV is -0.41, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.41 |
Correlation (All Time) Calculated using the full available price history since Dec 11, 2024 | -0.53 |
The correlation between BRKD and PWV shifts across timeframes, from -0.53 (all time) to -0.41 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BRKD vs. PWV — Risk / Return Rank
BRKD
PWV
BRKD vs. PWV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily BRKB Bear 1X Shares (BRKD) and Invesco Large Cap Value ETF (PWV). 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.
| BRKD | PWV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.49 | ||
| Sortino ratioReturn per unit of downside risk | -5.00 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.61 | -0.62 |
| Calmar ratioReturn relative to maximum drawdown | -0.15 | 7.97 | -8.12 |
| Martin ratioReturn relative to average drawdown | -0.30 | 28.49 | -28.79 |
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Drawdowns
BRKD vs. PWV - Drawdown Comparison
The maximum BRKD drawdown since its inception was -17.92%, smaller than the maximum PWV drawdown of -49.04%. Use the drawdown chart below to compare losses from any high point for BRKD and PWV.
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Drawdown Indicators
| BRKD | PWV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.92% | -49.04% | +31.12% |
Max Drawdown (1Y)Largest decline over 1 year | -8.85% | -4.05% | -4.80% |
Max Drawdown (3Y)Largest decline over 3 years | — | -14.31% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -16.36% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -37.67% | — |
Current DrawdownCurrent decline from peak | -3.69% | -0.80% | -2.89% |
Average DrawdownAverage peak-to-trough decline | -7.31% | -9.43% | +2.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.84% | 1.13% | +3.71% |
Volatility
BRKD vs. PWV - Volatility Comparison
The current volatility for Direxion Daily BRKB Bear 1X Shares (BRKD) is 0.00%, while Invesco Large Cap Value ETF (PWV) has a volatility of 2.66%. This indicates that BRKD experiences smaller price fluctuations and is considered to be less risky than PWV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BRKD | PWV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 2.66% | -2.66% |
Volatility (6M)Calculated over the trailing 6-month period | 7.61% | 7.25% | +0.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.23% | 9.61% | +2.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.33% | 14.26% | +2.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.33% | 17.14% | -0.81% |
BRKD vs. PWV - Expense Ratio Comparison
BRKD has a 1.00% expense ratio, which is higher than PWV's 0.55% expense ratio.
Dividends
BRKD vs. PWV - Dividend Comparison
BRKD's dividend yield for the trailing twelve months is around 1.91%, more than PWV's 1.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BRKD Direxion Daily BRKB Bear 1X Shares | 1.91% | 3.50% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PWV Invesco Large Cap Value ETF | 1.65% | 2.12% | 2.08% | 2.16% | 2.29% | 1.89% | 2.66% | 2.24% | 2.34% | 1.55% | 2.35% | 2.42% |
Frequently Asked Questions
BRKD and PWV have a correlation of -0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PWV has higher volatility (2.66%) compared to BRKD (0.00%). In terms of maximum drawdown, BRKD dropped -17.92% vs PWV's -49.04%.
On 1-year performance, PWV leads with 32.17% vs -1.36% for BRKD. On fees, PWV is cheaper at 0.55% 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, PWV has performed better with a 32.17% return vs -1.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PWV is cheaper with a 0.55% expense ratio, compared with 1.00% for BRKD.
BRKD has the higher dividend yield at 1.91%, compared with 1.65% for PWV.
BRKD is categorized as Inverse Equities, while PWV is Large Cap Value Equities. BRKD tracks Berkshire Hathaway Inc. Class B (-100%), while PWV tracks Dynamic Large Cap Value Intellidex Index (AMEX). They also come from different issuers: Direxion and Invesco. Their fees differ too: 1.00% for BRKD and 0.55% for PWV.
PWV currently has the higher Sharpe Ratio (3.38 vs -0.11), 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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