CRAK vs. ERY
CRAK (VanEck Oil Refiners ETF) and ERY (Direxion Daily Energy Bear 2X Shares) are both exchange-traded funds - CRAK is a Energy Equities fund tracking the MVIS Global Oil Refiners Index, while ERY is a Leveraged Equities fund tracking the Energy Select Sector Index (-300%). Both are passively managed. Over the past 10 years, CRAK returned 13.22%/yr vs -33.88%/yr for ERY. At a correlation of -0.70, they often move in opposite directions. CRAK charges 0.62%/yr vs 1.07%/yr for ERY.
Performance
CRAK vs. ERY - Performance Comparison
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Returns By Period
In the year-to-date period, CRAK achieves a 32.89% return, which is significantly higher than ERY's -44.59% return. Over the past 10 years, CRAK has outperformed ERY with an annualized return of 13.22%, while ERY has yielded a comparatively lower -33.88% annualized return.
CRAK
- 1D
- -0.26%
- 1M
- -4.06%
- YTD
- 32.89%
- 6M
- 27.88%
- 1Y
- 67.73%
- 3Y*
- 22.75%
- 5Y*
- 13.48%
- 10Y*
- 13.22%
ERY
- 1D
- -0.18%
- 1M
- 1.11%
- YTD
- -44.59%
- 6M
- -42.08%
- 1Y
- -55.06%
- 3Y*
- -28.20%
- 5Y*
- -38.05%
- 10Y*
- -33.88%
CRAK vs. ERY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CRAK VanEck Oil Refiners ETF | 32.89% | 39.11% | -15.05% | 13.73% | 19.10% | 10.90% | -11.22% | 9.15% | -10.46% | 49.86% |
ERY Direxion Daily Energy Bear 2X Shares | -44.59% | -18.54% | -5.58% | -0.35% | -73.61% | -68.00% | -11.94% | -38.67% | 45.61% | -5.67% |
Correlation
The correlation between CRAK and ERY is -0.60, 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 | -0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.73 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.70 |
Correlation (All Time) Calculated using the full available price history since Aug 20, 2015 | -0.70 |
The correlation between CRAK and ERY shifts across timeframes, from -0.73 (5 years) to -0.60 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
CRAK vs. ERY — Risk / Return Rank
CRAK
ERY
CRAK vs. ERY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Oil Refiners ETF (CRAK) and Direxion Daily Energy Bear 2X Shares (ERY). 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.
| CRAK | ERY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +5.07 | ||
| Sortino ratioReturn per unit of downside risk | +7.17 | ||
| Omega ratioGain probability vs. loss probability | 1.62 | 0.76 | +0.86 |
| Calmar ratioReturn relative to maximum drawdown | 7.95 | -0.92 | +8.87 |
| Martin ratioReturn relative to average drawdown | 22.45 | -1.65 | +24.09 |
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
| CRAK | ERY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.71 | -1.36 | +5.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.66 | -0.74 | +1.39 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.60 | -0.48 | +1.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | -0.55 | +1.08 |
Drawdowns
CRAK vs. ERY - Drawdown Comparison
The maximum CRAK drawdown since its inception was -58.80%, smaller than the maximum ERY drawdown of -99.99%. Use the drawdown chart below to compare losses from any high point for CRAK and ERY.
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Drawdown Indicators
| CRAK | ERY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.80% | -99.99% | +41.19% |
Max Drawdown (1Y)Largest decline over 1 year | -8.57% | -59.79% | +51.22% |
Max Drawdown (3Y)Largest decline over 3 years | -35.61% | -67.94% | +32.33% |
Max Drawdown (5Y)Largest decline over 5 years | -35.61% | -94.04% | +58.43% |
Max Drawdown (10Y)Largest decline over 10 years | -58.80% | -99.66% | +40.86% |
Current DrawdownCurrent decline from peak | -4.06% | -99.99% | +95.93% |
Average DrawdownAverage peak-to-trough decline | -12.49% | -96.93% | +84.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.03% | 33.47% | -30.44% |
Volatility
CRAK vs. ERY - Volatility Comparison
The current volatility for VanEck Oil Refiners ETF (CRAK) is 6.36%, while Direxion Daily Energy Bear 2X Shares (ERY) has a volatility of 16.11%. This indicates that CRAK experiences smaller price fluctuations and is considered to be less risky than ERY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CRAK | ERY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.36% | 16.11% | -9.75% |
Volatility (6M)Calculated over the trailing 6-month period | 14.26% | 32.64% | -18.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.34% | 40.81% | -22.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.61% | 51.89% | -31.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.16% | 70.62% | -48.46% |
CRAK vs. ERY - Expense Ratio Comparison
CRAK has a 0.62% expense ratio, which is lower than ERY's 1.07% expense ratio.
Dividends
CRAK vs. ERY - Dividend Comparison
CRAK's dividend yield for the trailing twelve months is around 1.52%, less than ERY's 3.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CRAK VanEck Oil Refiners ETF | 1.52% | 2.02% | 5.60% | 3.65% | 3.08% | 2.40% | 2.64% | 1.49% | 2.42% | 1.66% | 3.42% | 0.47% |
ERY Direxion Daily Energy Bear 2X Shares | 3.75% | 3.48% | 4.13% | 4.14% | 0.32% | 0.00% | 0.43% | 1.50% | 0.56% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CRAK and ERY have a correlation of -0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ERY has higher volatility (16.11%) compared to CRAK (6.36%). In terms of maximum drawdown, CRAK dropped -58.80% vs ERY's -99.99%.
On 10-year performance, CRAK leads with 13.22% vs -33.88% for ERY. On fees, CRAK is cheaper at 0.62% per year. On volatility, CRAK has been the lower-risk option at 6.36%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, CRAK has performed better with a 13.22% return vs -33.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CRAK is cheaper with a 0.62% expense ratio, compared with 1.07% for ERY.
ERY has the higher dividend yield at 3.75%, compared with 1.52% for CRAK.
CRAK is categorized as Energy Equities, while ERY is Leveraged Equities. CRAK tracks MVIS Global Oil Refiners Index, while ERY tracks Energy Select Sector Index (-300%). They also come from different issuers: VanEck and Direxion. Their fees differ too: 0.62% for CRAK and 1.07% for ERY.
CRAK currently has the higher Sharpe Ratio (3.71 vs -1.36), 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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