CPAI vs. NFXS

Last updated Jun 25, 2026

CPAI (Counterpoint Quantitative Equity ETF) and NFXS (Direxion Daily NFLX Bear 1X Shares) are both exchange-traded funds - CPAI is a Mid Cap Blend Equities fund actively managed by Counterpoint Funds, while NFXS is a Inverse Equities fund actively managed by Direxion. Both are actively managed. Over the past year, CPAI returned 38.76% vs 69.91% for NFXS. At a correlation of -0.26, they often move in opposite directions. CPAI charges 0.75%/yr vs 1.03%/yr for NFXS.

Performance

CPAI vs. NFXS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Counterpoint Quantitative Equity ETF (CPAI) and Direxion Daily NFLX Bear 1X Shares (NFXS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with CPAI having a 25.76% return and NFXS slightly higher at 26.00%.

CPAI

• 1D: -0.02%
• 1M: 2.38%
• YTD: 25.76%
• 6M: 24.09%
• 1Y: 38.76%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NFXS

• 1D: 1.44%
• 1M: 23.02%
• YTD: 26.00%
• 6M: 25.81%
• 1Y: 69.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CPAI vs. NFXS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CPAI Counterpoint Quantitative Equity ETF	25.76%	17.79%	4.29%
NFXS Direxion Daily NFLX Bear 1X Shares	26.00%	-8.56%	-21.49%

Correlation

The correlation between CPAI and NFXS is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.09
Correlation (All Time) Calculated using the full available price history since Oct 3, 2024	-0.26

The correlation between CPAI and NFXS shifts across timeframes, from -0.26 (all time) to -0.09 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

CPAI vs. NFXS — Risk / Return Rank

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

CPAI

CPAI Risk / Return Rank: 72
CPAI Sharpe Ratio Rank: 72
CPAI Sortino Ratio Rank: 67
CPAI Omega Ratio Rank: 66
CPAI Calmar Ratio Rank: 80
CPAI Martin Ratio Rank: 77

NFXS

NFXS Risk / Return Rank: 63
NFXS Sharpe Ratio Rank: 75
NFXS Sortino Ratio Rank: 69
NFXS Omega Ratio Rank: 76
NFXS Calmar Ratio Rank: 52
NFXS Martin Ratio Rank: 43

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.

CPAI vs. NFXS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Counterpoint Quantitative Equity ETF (CPAI) and Direxion Daily NFLX Bear 1X Shares (NFXS). 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.

	CPAI	NFXS	Difference
Sharpe ratio: Return per unit of total volatility	2.04	2.08	-0.05
Sortino ratio: Return per unit of downside risk	2.69	2.72	-0.02
Omega ratio: Gain probability vs. loss probability	1.35	1.39	-0.04
Calmar ratio: Return relative to maximum drawdown	3.72	2.24	+1.47
Martin ratio: Return relative to average drawdown	13.04	6.13	+6.91

CPAI vs. NFXS - Sharpe Ratio Comparison

The current CPAI Sharpe Ratio is 2.04, which is comparable to the NFXS Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of CPAI and NFXS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CPAI vs. NFXS - Drawdown Comparison

The maximum CPAI drawdown since its inception was -21.46%, smaller than the maximum NFXS drawdown of -50.37%. Use the drawdown chart below to compare losses from any high point for CPAI and NFXS.

Drawdown Indicators

	CPAI	NFXS	Difference
Max Drawdown Largest peak-to-trough decline	-21.46%	-50.37%	+28.91%
Max Drawdown (1Y) Largest decline over 1 year	-10.48%	-31.31%	+20.83%
Current Drawdown Current decline from peak	-3.11%	-11.63%	+8.52%
Average Drawdown Average peak-to-trough decline	-2.98%	-31.89%	+28.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.98%	11.44%	-8.46%

Volatility

CPAI vs. NFXS - Volatility Comparison

Counterpoint Quantitative Equity ETF (CPAI) and Direxion Daily NFLX Bear 1X Shares (NFXS) have volatilities of 7.86% and 7.76%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CPAI	NFXS	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.86%	7.76%	+0.10%
Volatility (6M) Calculated over the trailing 6-month period	15.79%	26.25%	-10.46%
Volatility (1Y) Calculated over the trailing 1-year period	19.17%	33.78%	-14.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.46%	34.63%	-15.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.46%	34.63%	-15.17%

CPAI vs. NFXS - Expense Ratio Comparison

CPAI has a 0.75% expense ratio, which is lower than NFXS's 1.03% expense ratio.

Dividends

CPAI vs. NFXS - Dividend Comparison

CPAI's dividend yield for the trailing twelve months is around 0.71%, less than NFXS's 2.81% yield.

Position	TTM	2025	2024	2023
CPAI Counterpoint Quantitative Equity ETF	0.71%	0.89%	0.41%	0.06%
NFXS Direxion Daily NFLX Bear 1X Shares	2.81%	3.53%	0.87%	0.00%

Frequently Asked Questions

Can I hold both CPAI and NFXS in my portfolio?

CPAI and NFXS have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CPAI or NFXS?

CPAI has higher volatility (7.86%) compared to NFXS (7.76%). In terms of maximum drawdown, CPAI dropped -21.46% vs NFXS's -50.37%.

Which ETF is better, CPAI or NFXS?

On 1-year performance, NFXS leads with 69.91% vs 38.76% for CPAI. On fees, CPAI is cheaper at 0.75% per year. On volatility, NFXS has been the lower-risk option at 7.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CPAI or NFXS?

Over the 1-year period, NFXS has performed better with a 69.91% return vs 38.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CPAI or NFXS?

CPAI is cheaper with a 0.75% expense ratio, compared with 1.03% for NFXS.

Which ETF pays a higher dividend yield, CPAI or NFXS?

NFXS has the higher dividend yield at 2.81%, compared with 0.71% for CPAI.

What is the main difference between CPAI and NFXS?

CPAI is categorized as Mid Cap Blend Equities, while NFXS is Inverse Equities. They also come from different issuers: Counterpoint Funds and Direxion. Their fees differ too: 0.75% for CPAI and 1.03% for NFXS.

Which has better risk-adjusted returns?

NFXS currently has the higher Sharpe Ratio (2.08 vs 2.04), 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.