DFEN vs. UYLD
DFEN (Direxion Daily Aerospace & Defense Bull 3X Shares) and UYLD (Angel Oak Ultrashort Income ETF) are both exchange-traded funds - DFEN is a Leveraged Equities fund tracking the Dow Jones U.S. Select Aerospace & Defense Index (300%), while UYLD is a Ultrashort Bond fund actively managed by Angel Oak. DFEN is passively managed, while UYLD is actively managed. Over the past 3 years, DFEN returned 64.38%/yr vs 5.92%/yr for UYLD. At a 0.07 correlation, their price movements are largely independent. DFEN charges 0.99%/yr vs 0.29%/yr for UYLD.
Performance
DFEN vs. UYLD - 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 UYLD's 2.03% return.
DFEN
- 1D
- -2.71%
- 1M
- 9.77%
- YTD
- 13.12%
- 6M
- 20.44%
- 1Y
- 75.01%
- 3Y*
- 64.38%
- 5Y*
- 29.22%
- 10Y*
- —
UYLD
- 1D
- 0.05%
- 1M
- 0.65%
- YTD
- 2.03%
- 6M
- 2.39%
- 1Y
- 5.12%
- 3Y*
- 5.92%
- 5Y*
- —
- 10Y*
- —
DFEN vs. UYLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares | 13.12% | 156.62% | 27.07% | 24.70% | 23.54% |
UYLD Angel Oak Ultrashort Income ETF | 2.03% | 5.36% | 6.10% | 6.90% | 1.09% |
Correlation
The correlation between DFEN and UYLD is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2022 | 0.07 |
The correlation between DFEN and UYLD shifts across timeframes, from 0.07 (all time) to 0.20 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DFEN vs. UYLD — Risk / Return Rank
DFEN
UYLD
DFEN vs. UYLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) and Angel Oak Ultrashort Income ETF (UYLD). 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 | UYLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -6.85 | ||
| Sortino ratioReturn per unit of downside risk | -20.21 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 4.49 | -3.27 |
| Calmar ratioReturn relative to maximum drawdown | 1.85 | 37.30 | -35.45 |
| Martin ratioReturn relative to average drawdown | 4.29 | 226.63 | -222.34 |
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Drawdowns
DFEN vs. UYLD - Drawdown Comparison
The maximum DFEN drawdown since its inception was -91.36%, which is greater than UYLD's maximum drawdown of -0.54%. Use the drawdown chart below to compare losses from any high point for DFEN and UYLD.
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Drawdown Indicators
| DFEN | UYLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.36% | -0.54% | -90.82% |
Max Drawdown (1Y)Largest decline over 1 year | -41.75% | -0.14% | -41.61% |
Max Drawdown (3Y)Largest decline over 3 years | -43.13% | -0.54% | -42.59% |
Max Drawdown (5Y)Largest decline over 5 years | -55.30% | — | — |
Current DrawdownCurrent decline from peak | -25.87% | 0.00% | -25.87% |
Average DrawdownAverage peak-to-trough decline | -45.20% | -0.03% | -45.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.99% | 0.02% | +17.97% |
Volatility
DFEN vs. UYLD - Volatility Comparison
Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) has a higher volatility of 27.31% compared to Angel Oak Ultrashort Income ETF (UYLD) at 0.36%. This indicates that DFEN's price experiences larger fluctuations and is considered to be riskier than UYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFEN | UYLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 27.31% | 0.36% | +26.95% |
Volatility (6M)Calculated over the trailing 6-month period | 55.81% | 0.50% | +55.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 65.81% | 0.64% | +65.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.74% | 1.00% | +59.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.66% | 1.00% | +70.66% |
DFEN vs. UYLD - Expense Ratio Comparison
DFEN has a 0.99% expense ratio, which is higher than UYLD's 0.29% expense ratio.
Dividends
DFEN vs. UYLD - Dividend Comparison
DFEN's dividend yield for the trailing twelve months is around 7.89%, more than UYLD's 5.03% yield.
| 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% |
UYLD Angel Oak Ultrashort Income ETF | 5.03% | 5.07% | 4.97% | 5.92% | 0.75% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DFEN and UYLD have a correlation of 0.20, 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 UYLD (0.36%). In terms of maximum drawdown, DFEN dropped -91.36% vs UYLD's -0.54%.
On 3-year performance, DFEN leads with 64.38% vs 5.92% for UYLD. On fees, UYLD is cheaper at 0.29% per year. On volatility, UYLD has been the lower-risk option at 0.36%. 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 5.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UYLD is cheaper with a 0.29% expense ratio, compared with 0.99% for DFEN.
DFEN has the higher dividend yield at 7.89%, compared with 5.03% for UYLD.
DFEN is categorized as Leveraged Equities, while UYLD is Ultrashort Bond. They also come from different issuers: Direxion and Angel Oak. Their fees differ too: 0.99% for DFEN and 0.29% for UYLD.
UYLD currently has the higher Sharpe Ratio (8.03 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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