BRKD vs. SPVM
BRKD (Direxion Daily BRKB Bear 1X Shares) and SPVM (Invesco S&P 500 Value with Momentum ETF) are both exchange-traded funds - BRKD is a Inverse Equities fund tracking the Berkshire Hathaway Inc. Class B (-100%), while SPVM is a Momentum fund tracking the S&P 500 High Momentum Value Index. Both are passively managed. Over the past year, BRKD returned 7.98% vs 28.06% for SPVM. At a correlation of -0.57, they often move in opposite directions. BRKD charges 1.00%/yr vs 0.39%/yr for SPVM.
Performance
BRKD vs. SPVM - 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 SPVM's 8.29% return.
BRKD
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 5.90%
- 6M
- 6.63%
- 1Y
- 7.98%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPVM
- 1D
- -0.70%
- 1M
- 3.16%
- YTD
- 8.29%
- 6M
- 10.61%
- 1Y
- 28.06%
- 3Y*
- 19.14%
- 5Y*
- 10.09%
- 10Y*
- 11.89%
BRKD vs. SPVM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BRKD Direxion Daily BRKB Bear 1X Shares | 5.90% | -6.69% | 2.19% |
SPVM Invesco S&P 500 Value with Momentum ETF | 8.29% | 20.47% | -4.03% |
Correlation
The correlation between BRKD and SPVM is -0.47, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.47 |
Correlation (All Time) Calculated using the full available price history since Dec 12, 2024 | -0.57 |
The correlation between BRKD and SPVM has been stable across timeframes, ranging from -0.57 to -0.47 - a consistent structural relationship.
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Return for Risk
BRKD vs. SPVM — Risk / Return Rank
BRKD
SPVM
BRKD vs. SPVM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily BRKB Bear 1X Shares (BRKD) and Invesco S&P 500 Value with Momentum ETF (SPVM). 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 | SPVM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.82 | ||
| Sortino ratioReturn per unit of downside risk | -2.47 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.42 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 0.86 | 4.29 | -3.43 |
| Martin ratioReturn relative to average drawdown | 1.67 | 16.33 | -14.66 |
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 | SPVM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.60 | 2.43 | -1.82 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.60 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.61 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.04 | 0.63 | -0.59 |
Drawdowns
BRKD vs. SPVM - Drawdown Comparison
The maximum BRKD drawdown since its inception was -17.92%, smaller than the maximum SPVM drawdown of -45.35%. Use the drawdown chart below to compare losses from any high point for BRKD and SPVM.
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Drawdown Indicators
| BRKD | SPVM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.92% | -45.35% | +27.43% |
Max Drawdown (1Y)Largest decline over 1 year | -9.34% | -6.57% | -2.77% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.66% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -19.48% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -45.35% | — |
Current DrawdownCurrent decline from peak | -3.69% | -0.70% | -2.99% |
Average DrawdownAverage peak-to-trough decline | -7.74% | -4.99% | -2.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.78% | 1.72% | +3.06% |
Volatility
BRKD vs. SPVM - Volatility Comparison
The current volatility for Direxion Daily BRKB Bear 1X Shares (BRKD) is 0.00%, while Invesco S&P 500 Value with Momentum ETF (SPVM) has a volatility of 2.79%. This indicates that BRKD experiences smaller price fluctuations and is considered to be less risky than SPVM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BRKD | SPVM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 2.79% | -2.79% |
Volatility (6M)Calculated over the trailing 6-month period | 9.21% | 7.48% | +1.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.36% | 11.63% | +1.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.26% | 16.77% | +0.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.26% | 19.57% | -2.31% |
BRKD vs. SPVM - Expense Ratio Comparison
BRKD has a 1.00% expense ratio, which is higher than SPVM's 0.39% expense ratio.
Dividends
BRKD vs. SPVM - Dividend Comparison
BRKD's dividend yield for the trailing twelve months is around 2.82%, more than SPVM's 1.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% |
SPVM Invesco S&P 500 Value with Momentum ETF | 1.91% | 2.02% | 1.91% | 2.45% | 2.33% | 1.41% | 2.11% | 2.40% | 3.10% | 1.68% | 2.80% | 2.67% |
Frequently Asked Questions
BRKD and SPVM have a correlation of -0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPVM has higher volatility (2.79%) compared to BRKD (0.00%). In terms of maximum drawdown, BRKD dropped -17.92% vs SPVM's -45.35%.
On 1-year performance, SPVM leads with 28.06% vs 7.98% for BRKD. On fees, SPVM is cheaper at 0.39% 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, SPVM has performed better with a 28.06% return vs 7.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPVM is cheaper with a 0.39% expense ratio, compared with 1.00% for BRKD.
BRKD has the higher dividend yield at 2.82%, compared with 1.91% for SPVM.
BRKD is categorized as Inverse Equities, while SPVM is Momentum. BRKD tracks Berkshire Hathaway Inc. Class B (-100%), while SPVM tracks S&P 500 High Momentum Value Index. They also come from different issuers: Direxion and Invesco. Their fees differ too: 1.00% for BRKD and 0.39% for SPVM.
SPVM currently has the higher Sharpe Ratio (2.43 vs 0.60), 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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