DFEN vs. AS
DFEN (Direxion Daily Aerospace & Defense Bull 3X Shares) is Leveraged Equities fund tracking the Dow Jones U.S. Select Aerospace & Defense Index (300%), while AS (Amer Sports, Inc) is a stock. Over the past year, DFEN returned 76.99% vs -5.21% for AS. At a 0.32 correlation, their price movements are largely independent.
Performance
DFEN vs. AS - Performance Comparison
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Returns By Period
In the year-to-date period, DFEN achieves a 13.12% return, which is significantly higher than AS's -5.06% return.
DFEN
- 1D
- -2.71%
- 1M
- 7.74%
- YTD
- 13.12%
- 6M
- 20.44%
- 1Y
- 76.99%
- 3Y*
- 64.38%
- 5Y*
- 29.22%
- 10Y*
- —
AS
- 1D
- -0.39%
- 1M
- 8.18%
- YTD
- -5.06%
- 6M
- -7.56%
- 1Y
- -5.21%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DFEN vs. AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares | 13.12% | 156.62% | 41.84% |
AS Amer Sports, Inc | -5.06% | 33.58% | 108.66% |
Correlation
The correlation between DFEN and AS is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2024 | 0.32 |
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Return for Risk
DFEN vs. AS — Risk / Return Rank
DFEN
AS
DFEN vs. AS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) and Amer Sports, Inc (AS). 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.
| DFEN | AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.30 | ||
| Sortino ratioReturn per unit of downside risk | +1.74 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.01 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.85 | -0.18 | +2.04 |
| Martin ratioReturn relative to average drawdown | 4.29 | -0.36 | +4.65 |
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Drawdowns
DFEN vs. AS - Drawdown Comparison
The maximum DFEN drawdown since its inception was -91.36%, which is greater than AS's maximum drawdown of -40.71%. Use the drawdown chart below to compare losses from any high point for DFEN and AS.
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Drawdown Indicators
| DFEN | AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.36% | -40.71% | -50.65% |
Max Drawdown (1Y)Largest decline over 1 year | -41.75% | -28.78% | -12.97% |
Max Drawdown (3Y)Largest decline over 3 years | -43.13% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -55.30% | — | — |
Current DrawdownCurrent decline from peak | -25.87% | -15.49% | -10.38% |
Average DrawdownAverage peak-to-trough decline | -45.20% | -13.29% | -31.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.99% | 14.56% | +3.43% |
Volatility
DFEN vs. AS - Volatility Comparison
Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) has a higher volatility of 27.31% compared to Amer Sports, Inc (AS) at 10.17%. This indicates that DFEN's price experiences larger fluctuations and is considered to be riskier than AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFEN | AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 27.31% | 10.17% | +17.14% |
Volatility (6M)Calculated over the trailing 6-month period | 55.81% | 29.10% | +26.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 65.81% | 41.31% | +24.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.74% | 49.55% | +11.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.66% | 49.55% | +22.11% |
Dividends
DFEN vs. AS - Dividend Comparison
DFEN's dividend yield for the trailing twelve months is around 7.89%, while AS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
AS Amer Sports, Inc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares | 7.89% | 8.89% | 14.12% | 1.13% | 0.46% | 1.89% | 0.48% | 0.50% | 1.07% | 1.50% |
Frequently Asked Questions
DFEN and AS have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DFEN has higher volatility (27.31%) compared to AS (10.17%). In terms of maximum drawdown, DFEN dropped -91.36% vs AS's -40.71%.
DFEN currently has the higher Sharpe Ratio (1.18 vs -0.13), 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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