BRZU vs. BLSG

Last updated Jun 4, 2026

BRZU (Direxion Daily Brazil Bull 2X Shares) and BLSG (Leverage Shares 2X Long BLSH Daily ETF) are both Leveraged Equities funds. BRZU is passively managed, while BLSG is actively managed. At a 0.35 correlation, their price movements are largely independent. BRZU charges 1.29%/yr vs 0.75%/yr for BLSG.

Performance

BRZU vs. BLSG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Brazil Bull 2X Shares (BRZU) and Leverage Shares 2X Long BLSH Daily ETF (BLSG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BRZU achieves a 11.76% return, which is significantly higher than BLSG's -58.79% return.

BRZU

• 1D: -6.46%
• 1M: -22.26%
• YTD: 11.76%
• 6M: 2.36%
• 1Y: 55.66%
• 3Y*: 9.42%
• 5Y*: -4.04%
• 10Y*: -16.20%

BLSG

• 1D: -15.77%
• 1M: -55.27%
• YTD: -58.79%
• 6M: -73.27%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BRZU vs. BLSG - Yearly Performance Comparison

	2026 (YTD)	2025
BRZU Direxion Daily Brazil Bull 2X Shares	11.76%	12.30%
BLSG Leverage Shares 2X Long BLSH Daily ETF	-58.79%	-60.00%

Correlation

The correlation between BRZU and BLSG is 0.35, 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 Oct 28, 2025	0.35

Return for Risk

BRZU vs. BLSG — Risk / Return Rank

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

BRZU

BRZU Risk / Return Rank: 32
BRZU Sharpe Ratio Rank: 31
BRZU Sortino Ratio Rank: 30
BRZU Omega Ratio Rank: 31
BRZU Calmar Ratio Rank: 35
BRZU Martin Ratio Rank: 34

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.

BRZU vs. BLSG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Brazil Bull 2X Shares (BRZU) and Leverage Shares 2X Long BLSH Daily ETF (BLSG). 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.

	BRZU	BLSG	Difference
Sharpe ratio Return per unit of total volatility	1.13	—	—
Sortino ratio Return per unit of downside risk	1.65	—	—
Omega ratio Gain probability vs. loss probability	1.21	—	—
Calmar ratio Return relative to maximum drawdown	1.73	—	—
Martin ratio Return relative to average drawdown	5.24	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	BRZU	BLSG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.13	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.07	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.20	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.35	-0.66	+0.30

Drawdowns

BRZU vs. BLSG - Drawdown Comparison

The maximum BRZU drawdown since its inception was -99.71%, which is greater than BLSG's maximum drawdown of -83.67%. Use the drawdown chart below to compare losses from any high point for BRZU and BLSG.

Drawdown Indicators

	BRZU	BLSG	Difference
Max Drawdown Largest peak-to-trough decline	-99.71%	-83.67%	-16.04%
Max Drawdown (1Y) Largest decline over 1 year	-32.39%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-58.25%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-65.00%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-98.11%	—	—
Current Drawdown Current decline from peak	-99.20%	-83.52%	-15.68%
Average Drawdown Average peak-to-trough decline	-89.55%	-60.12%	-29.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.66%	—	—

Volatility

Volatility by Period

	BRZU	BLSG	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.75%	—	—
Volatility (6M) Calculated over the trailing 6-month period	41.66%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	49.58%	145.44%	-95.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.40%	145.44%	-90.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	83.15%	145.44%	-62.29%

BRZU vs. BLSG - Expense Ratio Comparison

BRZU has a 1.29% expense ratio, which is higher than BLSG's 0.75% expense ratio.

Dividends

BRZU vs. BLSG - Dividend Comparison

BRZU's dividend yield for the trailing twelve months is around 2.39%, while BLSG has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BLSG Leverage Shares 2X Long BLSH Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
BRZU Direxion Daily Brazil Bull 2X Shares	2.39%	2.39%	8.73%	3.24%	4.70%	6.29%	0.78%	0.95%	1.04%	0.74%

Frequently Asked Questions

Can I hold both BRZU and BLSG in my portfolio?

BRZU and BLSG have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BRZU or BLSG?

On fees, BLSG 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, BRZU or BLSG?

BLSG is cheaper with a 0.75% expense ratio, compared with 1.29% for BRZU.

Which ETF pays a higher dividend yield, BRZU or BLSG?

BRZU has the higher dividend yield at 2.39%, compared with 0.00% for BLSG.

What is the main difference between BRZU and BLSG?

They also come from different issuers: Direxion and Leverage Shares. Their fees differ too: 1.29% for BRZU and 0.75% for BLSG.