BRKD vs. SEF
BRKD (Direxion Daily BRKB Bear 1X Shares) and SEF (ProShares Short Financials) are both Inverse Equities funds - BRKD tracks the Berkshire Hathaway Inc. Class B (-100%) while SEF tracks the Dow Jones U.S. Financials Index (-100%). Both are passively managed. Over the past year, BRKD returned 7.98% vs 3.73% for SEF. A 0.61 correlation means they provide meaningful diversification when combined. BRKD charges 1.00%/yr vs 0.95%/yr for SEF.
Performance
BRKD vs. SEF - 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 SEF's 8.89% return.
BRKD
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 5.90%
- 6M
- 6.63%
- 1Y
- 7.98%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SEF
- 1D
- 1.10%
- 1M
- 1.81%
- YTD
- 8.89%
- 6M
- 6.43%
- 1Y
- 3.73%
- 3Y*
- -10.34%
- 5Y*
- -5.21%
- 10Y*
- -11.50%
BRKD vs. SEF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BRKD Direxion Daily BRKB Bear 1X Shares | 5.90% | -6.69% | 2.19% |
SEF ProShares Short Financials | 8.89% | -9.82% | 2.94% |
Correlation
The correlation between BRKD and SEF is 0.52, 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 | 0.52 |
Correlation (All Time) Calculated using the full available price history since Dec 12, 2024 | 0.61 |
The correlation between BRKD and SEF has been stable across timeframes, ranging from 0.52 to 0.61 - a consistent structural relationship.
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Return for Risk
BRKD vs. SEF — Risk / Return Rank
BRKD
SEF
BRKD vs. SEF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily BRKB Bear 1X Shares (BRKD) and ProShares Short Financials (SEF). 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.
| BRKD | SEF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.34 | ||
| Sortino ratioReturn per unit of downside risk | +0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.06 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.86 | 0.39 | +0.47 |
| Martin ratioReturn relative to average drawdown | 1.67 | 0.73 | +0.95 |
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
| BRKD | SEF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.60 | 0.26 | +0.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.29 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.56 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.04 | -0.49 | +0.53 |
Drawdowns
BRKD vs. SEF - Drawdown Comparison
The maximum BRKD drawdown since its inception was -17.92%, smaller than the maximum SEF drawdown of -96.51%. Use the drawdown chart below to compare losses from any high point for BRKD and SEF.
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Drawdown Indicators
| BRKD | SEF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.92% | -96.51% | +78.59% |
Max Drawdown (1Y)Largest decline over 1 year | -9.34% | -9.72% | +0.38% |
Max Drawdown (3Y)Largest decline over 3 years | — | -39.40% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -41.62% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.66% | — |
Current DrawdownCurrent decline from peak | -3.69% | -96.09% | +92.40% |
Average DrawdownAverage peak-to-trough decline | -7.74% | -82.72% | +74.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.78% | 5.14% | -0.36% |
Volatility
BRKD vs. SEF - Volatility Comparison
The current volatility for Direxion Daily BRKB Bear 1X Shares (BRKD) is 0.00%, while ProShares Short Financials (SEF) has a volatility of 3.01%. This indicates that BRKD experiences smaller price fluctuations and is considered to be less risky than SEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BRKD | SEF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 3.01% | -3.01% |
Volatility (6M)Calculated over the trailing 6-month period | 9.21% | 10.85% | -1.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.36% | 14.34% | -0.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.26% | 17.96% | -0.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.26% | 20.52% | -3.26% |
BRKD vs. SEF - Expense Ratio Comparison
BRKD has a 1.00% expense ratio, which is higher than SEF's 0.95% expense ratio.
Dividends
BRKD vs. SEF - Dividend Comparison
BRKD's dividend yield for the trailing twelve months is around 2.82%, less than SEF's 3.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BRKD Direxion Daily BRKB Bear 1X Shares | 2.82% | 3.50% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SEF ProShares Short Financials | 3.35% | 4.33% | 5.72% | 4.43% | 0.39% | 0.00% | 0.12% | 1.25% | 0.41% |
Frequently Asked Questions
BRKD and SEF have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SEF has higher volatility (3.01%) compared to BRKD (0.00%). In terms of maximum drawdown, BRKD dropped -17.92% vs SEF's -96.51%.
On 1-year performance, BRKD leads with 7.98% vs 3.73% for SEF. On fees, SEF is cheaper at 0.95% 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, BRKD has performed better with a 7.98% return vs 3.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SEF is cheaper with a 0.95% expense ratio, compared with 1.00% for BRKD.
SEF has the higher dividend yield at 3.35%, compared with 2.82% for BRKD.
BRKD tracks Berkshire Hathaway Inc. Class B (-100%), while SEF tracks Dow Jones U.S. Financials Index (-100%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.00% for BRKD and 0.95% for SEF.
BRKD currently has the higher Sharpe Ratio (0.60 vs 0.26), 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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