DFEN vs. OILU
DFEN (Direxion Daily Aerospace & Defense Bull 3X Shares) and OILU (MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN) are both exchange-traded funds - DFEN is a Leveraged Equities fund tracking the Dow Jones U.S. Select Aerospace & Defense Index (300%), while OILU is a Leveraged Commodities fund managed by BMO. Over the past 3 years, DFEN returned 64.38%/yr vs 6.45%/yr for OILU. At a 0.33 correlation, their price movements are largely independent. DFEN charges 0.99%/yr vs 0.95%/yr for OILU.
Performance
DFEN vs. OILU - Performance Comparison
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Returns By Period
In the year-to-date period, DFEN achieves a 13.12% return, which is significantly lower than OILU's 80.85% return.
DFEN
- 1D
- -2.71%
- 1M
- 21.79%
- YTD
- 13.12%
- 6M
- 20.44%
- 1Y
- 75.01%
- 3Y*
- 64.38%
- 5Y*
- 29.22%
- 10Y*
- —
OILU
- 1D
- 2.31%
- 1M
- -12.57%
- YTD
- 80.85%
- 6M
- 71.72%
- 1Y
- 69.93%
- 3Y*
- 6.45%
- 5Y*
- —
- 10Y*
- —
DFEN vs. OILU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares | 13.12% | 156.62% | 27.07% | 24.70% | 6.99% | -17.00% |
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN | 80.85% | -16.50% | -21.65% | -32.50% | 151.08% | -16.79% |
Correlation
The correlation between DFEN and OILU is -0.06, 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 | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2021 | 0.33 |
The correlation between DFEN and OILU shifts across timeframes, from -0.06 (1 year) to 0.33 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DFEN vs. OILU — Risk / Return Rank
DFEN
OILU
DFEN vs. OILU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) and MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU). 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 | OILU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.22 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.85 | 2.37 | -0.52 |
| Martin ratioReturn relative to average drawdown | 4.29 | 5.62 | -1.32 |
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Drawdowns
DFEN vs. OILU - Drawdown Comparison
The maximum DFEN drawdown since its inception was -91.36%, which is greater than OILU's maximum drawdown of -81.00%. Use the drawdown chart below to compare losses from any high point for DFEN and OILU.
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Drawdown Indicators
| DFEN | OILU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.36% | -81.00% | -10.36% |
Max Drawdown (1Y)Largest decline over 1 year | -41.75% | -33.51% | -8.24% |
Max Drawdown (3Y)Largest decline over 3 years | -43.13% | -69.09% | +25.96% |
Max Drawdown (5Y)Largest decline over 5 years | -55.30% | — | — |
Current DrawdownCurrent decline from peak | -25.87% | -51.36% | +25.49% |
Average DrawdownAverage peak-to-trough decline | -45.20% | -50.54% | +5.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.99% | 14.12% | +3.87% |
Volatility
DFEN vs. OILU - Volatility Comparison
Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) has a higher volatility of 27.31% compared to MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) at 21.88%. This indicates that DFEN's price experiences larger fluctuations and is considered to be riskier than OILU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFEN | OILU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 27.31% | 21.88% | +5.43% |
Volatility (6M)Calculated over the trailing 6-month period | 55.81% | 50.72% | +5.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 65.81% | 62.50% | +3.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.74% | 81.07% | -20.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.66% | 81.07% | -9.41% |
DFEN vs. OILU - Expense Ratio Comparison
DFEN has a 0.99% expense ratio, which is higher than OILU's 0.95% expense ratio.
Dividends
DFEN vs. OILU - Dividend Comparison
DFEN's dividend yield for the trailing twelve months is around 7.89%, while OILU has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DFEN and OILU have a correlation of -0.06, 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 OILU (21.88%). In terms of maximum drawdown, DFEN dropped -91.36% vs OILU's -81.00%.
On 3-year performance, DFEN leads with 64.38% vs 6.45% for OILU. On fees, OILU is cheaper at 0.95% per year. On volatility, OILU has been the lower-risk option at 21.88%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, DFEN has performed better with a 64.38% return vs 6.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OILU is cheaper with a 0.95% expense ratio, compared with 0.99% for DFEN.
DFEN has the higher dividend yield at 7.89%, compared with 0.00% for OILU.
DFEN is categorized as Leveraged Equities, while OILU is Leveraged Commodities. They also come from different issuers: Direxion and BMO. Their fees differ too: 0.99% for DFEN and 0.95% for OILU.
OILU currently has the higher Sharpe Ratio (1.27 vs 1.18), 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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