DFEN vs. IDVO

Last updated Jun 21, 2026

DFEN (Direxion Daily Aerospace & Defense Bull 3X Shares) and IDVO (Amplify CWP International Enhanced Dividend Income ETF) are both exchange-traded funds - DFEN is a Leveraged Equities fund tracking the Dow Jones U.S. Select Aerospace & Defense Index (300% Daily), while IDVO is a Derivative Income fund actively managed by Amplify. DFEN is passively managed, while IDVO is actively managed. Over the past 3 years, DFEN returned 67.96%/yr vs 21.61%/yr for IDVO. A 0.51 correlation means they provide meaningful diversification when combined. DFEN charges 0.96%/yr vs 0.65%/yr for IDVO.

Performance

DFEN vs. IDVO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) and Amplify CWP International Enhanced Dividend Income ETF (IDVO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFEN achieves a 20.97% return, which is significantly higher than IDVO's 13.34% return.

DFEN

• 1D: -4.32%
• 1M: 17.09%
• YTD: 20.97%
• 6M: 21.25%
• 1Y: 87.39%
• 3Y*: 67.96%
• 5Y*: 33.49%
• 10Y*: —

IDVO

• 1D: 0.17%
• 1M: 0.36%
• YTD: 13.34%
• 6M: 14.21%
• 1Y: 35.01%
• 3Y*: 21.61%
• 5Y*: —
• 10Y*: —

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

DFEN vs. IDVO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares	20.97%	156.62%	27.07%	24.70%	24.80%
IDVO Amplify CWP International Enhanced Dividend Income ETF	13.34%	36.46%	10.16%	17.53%	6.42%

Correlation

The correlation between DFEN and IDVO is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (All Time) Calculated using the full available price history since Sep 8, 2022	0.51

The correlation between DFEN and IDVO has been stable across timeframes, ranging from 0.47 to 0.51 - a consistent structural relationship.

DFEN vs. IDVO - Sectors Allocation Comparison

Sectors	DFEN	IDVO
Industrials	18.7%	7.2%
Technology	0.0%	10.7%
Basic Materials	-	17.1%
Communication Services	-	10.3%
Consumer Cyclical	-	3.2%
Consumer Defensive	-	8.2%
Energy	-	12.5%
Financial Services	-	19.9%
Healthcare	-	7.8%
Real Estate	-	-
Utilities	-	3.2%

Return for Risk

DFEN vs. IDVO — Risk / Return Rank

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

DFEN

DFEN Risk / Return Rank: 40
DFEN Sharpe Ratio Rank: 41
DFEN Sortino Ratio Rank: 42
DFEN Omega Ratio Rank: 37
DFEN Calmar Ratio Rank: 46
DFEN Martin Ratio Rank: 36

IDVO

IDVO Risk / Return Rank: 68
IDVO Sharpe Ratio Rank: 67
IDVO Sortino Ratio Rank: 64
IDVO Omega Ratio Rank: 68
IDVO Calmar Ratio Rank: 69
IDVO Martin Ratio Rank: 71

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.

DFEN vs. IDVO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) and Amplify CWP International Enhanced Dividend Income ETF (IDVO). 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	IDVO	Difference
Sharpe ratio: Return per unit of total volatility	1.40	2.09	-0.69
Sortino ratio: Return per unit of downside risk	2.04	2.81	-0.77
Omega ratio: Gain probability vs. loss probability	1.24	1.38	-0.14
Calmar ratio: Return relative to maximum drawdown	2.21	3.28	-1.07
Martin ratio: Return relative to average drawdown	5.08	12.51	-7.43

DFEN vs. IDVO - Sharpe Ratio Comparison

The current DFEN Sharpe Ratio is 1.40, which is lower than the IDVO Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of DFEN and IDVO, 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

DFEN vs. IDVO - Drawdown Comparison

The maximum DFEN drawdown since its inception was -91.36%, which is greater than IDVO's maximum drawdown of -15.46%. Use the drawdown chart below to compare losses from any high point for DFEN and IDVO.

Drawdown Indicators

	DFEN	IDVO	Difference
Max Drawdown Largest peak-to-trough decline	-91.36%	-15.46%	-75.90%
Max Drawdown (1Y) Largest decline over 1 year	-41.75%	-10.37%	-31.38%
Max Drawdown (3Y) Largest decline over 3 years	-43.13%	-15.46%	-27.67%
Max Drawdown (5Y) Largest decline over 5 years	-55.30%	—	—
Current Drawdown Current decline from peak	-20.73%	-1.93%	-18.80%
Average Drawdown Average peak-to-trough decline	-45.15%	-2.30%	-42.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.16%	2.72%	+15.44%

Volatility

DFEN vs. IDVO - Volatility Comparison

Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) has a higher volatility of 25.14% compared to Amplify CWP International Enhanced Dividend Income ETF (IDVO) at 5.96%. This indicates that DFEN's price experiences larger fluctuations and is considered to be riskier than IDVO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFEN	IDVO	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.14%	5.96%	+19.18%
Volatility (6M) Calculated over the trailing 6-month period	56.03%	13.89%	+42.14%
Volatility (1Y) Calculated over the trailing 1-year period	66.17%	16.30%	+49.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.80%	16.48%	+44.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.64%	16.48%	+55.16%

DFEN vs. IDVO - Expense Ratio Comparison

DFEN has a 0.96% expense ratio, which is higher than IDVO's 0.65% expense ratio.

Dividends

DFEN vs. IDVO - Dividend Comparison

DFEN's dividend yield for the trailing twelve months is around 7.38%, more than IDVO's 5.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares	7.38%	8.89%	14.12%	1.13%	0.46%	1.89%	0.48%	0.50%	1.07%	1.50%
IDVO Amplify CWP International Enhanced Dividend Income ETF	5.52%	5.42%	6.14%	5.72%	1.96%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFEN and IDVO in my portfolio?

DFEN and IDVO have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFEN or IDVO?

DFEN has higher volatility (25.14%) compared to IDVO (5.96%). In terms of maximum drawdown, DFEN dropped -91.36% vs IDVO's -15.46%.

Which ETF is better, DFEN or IDVO?

On 3-year performance, DFEN leads with 67.96% vs 21.61% for IDVO. On fees, IDVO is cheaper at 0.65% per year. On volatility, IDVO has been the lower-risk option at 5.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFEN or IDVO?

Over the 3-year period, DFEN has performed better with a 67.96% return vs 21.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFEN or IDVO?

IDVO is cheaper with a 0.65% expense ratio, compared with 0.96% for DFEN.

Which ETF pays a higher dividend yield, DFEN or IDVO?

DFEN has the higher dividend yield at 7.38%, compared with 5.52% for IDVO.

What is the main difference between DFEN and IDVO?

DFEN is categorized as Leveraged Equities, while IDVO is Derivative Income. They also come from different issuers: Direxion and Amplify. Their fees differ too: 0.96% for DFEN and 0.65% for IDVO.

Which has better risk-adjusted returns?

IDVO currently has the higher Sharpe Ratio (2.09 vs 1.40), 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.