DFEN vs. IGLD
DFEN (Direxion Daily Aerospace & Defense Bull 3X Shares) and IGLD (FT Vest Gold Strategy Target 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 IGLD is a Gold fund actively managed by First Trust. DFEN is passively managed, while IGLD is actively managed. Over the past 5 years, DFEN returned 33.49%/yr vs 13.37%/yr for IGLD. At a 0.14 correlation, their price movements are largely independent. DFEN charges 0.96%/yr vs 0.85%/yr for IGLD.
Performance
DFEN vs. IGLD - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, DFEN achieves a 20.97% return, which is significantly higher than IGLD's -3.05% return.
DFEN
- 1D
- -4.32%
- 1M
- 17.09%
- YTD
- 20.97%
- 6M
- 21.25%
- 1Y
- 87.39%
- 3Y*
- 67.96%
- 5Y*
- 33.49%
- 10Y*
- —
IGLD
- 1D
- -0.50%
- 1M
- -5.65%
- YTD
- -3.05%
- 6M
- -3.19%
- 1Y
- 18.24%
- 3Y*
- 20.70%
- 5Y*
- 13.37%
- 10Y*
- —
DFEN vs. IGLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares | 20.97% | 156.62% | 27.07% | 24.70% | 6.99% | 4.27% |
IGLD FT Vest Gold Strategy Target Income ETF | -3.05% | 47.46% | 19.36% | 9.24% | -2.34% | 4.30% |
Correlation
The correlation between DFEN and IGLD is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Mar 3, 2021 | 0.14 |
The correlation between DFEN and IGLD shifts across timeframes, from 0.14 (5 years) to 0.26 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
DFEN vs. IGLD — Risk / Return Rank
DFEN
IGLD
DFEN vs. IGLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) and FT Vest Gold Strategy Target Income ETF (IGLD). 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 | IGLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.64 | ||
| Sortino ratioReturn per unit of downside risk | +0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.16 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.21 | 0.84 | +1.37 |
| Martin ratioReturn relative to average drawdown | 5.08 | 2.47 | +2.61 |
Loading charts...
Drawdowns
DFEN vs. IGLD - Drawdown Comparison
The maximum DFEN drawdown since its inception was -91.36%, which is greater than IGLD's maximum drawdown of -21.90%. Use the drawdown chart below to compare losses from any high point for DFEN and IGLD.
Loading charts...
Drawdown Indicators
| DFEN | IGLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.36% | -21.90% | -69.46% |
Max Drawdown (1Y)Largest decline over 1 year | -41.75% | -21.90% | -19.85% |
Max Drawdown (3Y)Largest decline over 3 years | -43.13% | -21.90% | -21.23% |
Max Drawdown (5Y)Largest decline over 5 years | -55.30% | -21.90% | -33.40% |
Current DrawdownCurrent decline from peak | -20.73% | -19.11% | -1.62% |
Average DrawdownAverage peak-to-trough decline | -45.15% | -5.34% | -39.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.16% | 7.46% | +10.70% |
Volatility
DFEN vs. IGLD - Volatility Comparison
Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) has a higher volatility of 25.14% compared to FT Vest Gold Strategy Target Income ETF (IGLD) at 8.12%. This indicates that DFEN's price experiences larger fluctuations and is considered to be riskier than IGLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| DFEN | IGLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 25.14% | 8.12% | +17.02% |
Volatility (6M)Calculated over the trailing 6-month period | 56.03% | 22.26% | +33.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 66.17% | 24.31% | +41.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.80% | 15.45% | +45.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.64% | 15.28% | +56.36% |
DFEN vs. IGLD - Expense Ratio Comparison
DFEN has a 0.96% expense ratio, which is higher than IGLD's 0.85% expense ratio.
Dividends
DFEN vs. IGLD - Dividend Comparison
DFEN's dividend yield for the trailing twelve months is around 7.38%, less than IGLD's 18.79% 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% |
IGLD FT Vest Gold Strategy Target Income ETF | 18.79% | 9.91% | 20.81% | 7.85% | 4.45% | 2.24% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DFEN and IGLD have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DFEN has higher volatility (25.14%) compared to IGLD (8.12%). In terms of maximum drawdown, DFEN dropped -91.36% vs IGLD's -21.90%.
On 5-year performance, DFEN leads with 33.49% vs 13.37% for IGLD. On fees, IGLD is cheaper at 0.85% per year. On volatility, IGLD has been the lower-risk option at 8.12%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DFEN has performed better with a 33.49% return vs 13.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IGLD is cheaper with a 0.85% expense ratio, compared with 0.96% for DFEN.
IGLD has the higher dividend yield at 18.79%, compared with 7.38% for DFEN.
DFEN is categorized as Leveraged Equities, while IGLD is Gold. They also come from different issuers: Direxion and First Trust. Their fees differ too: 0.96% for DFEN and 0.85% for IGLD.
DFEN currently has the higher Sharpe Ratio (1.40 vs 0.76), 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.
Find the right allocation for DFEN and IGLD
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer