DFEN vs. XAR
Compare and contrast key facts about Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) and SPDR S&P Aerospace & Defense ETF (XAR).
DFEN and XAR are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DFEN is a passively managed fund by Direxion that tracks the performance of the Dow Jones U.S. Select Aerospace & Defense Index (300%). It was launched on May 3, 2017. XAR is a passively managed fund by State Street that tracks the performance of the S&P Aerospace & Defense Select Industry. It was launched on Sep 28, 2011. Both DFEN and XAR are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
DFEN vs. XAR - Performance Comparison
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DFEN vs. XAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares | -1.16% | 156.62% | 27.07% | 24.70% | 6.99% | 12.72% | -70.23% | 95.09% | -32.86% | 83.64% |
XAR SPDR S&P Aerospace & Defense ETF | 5.33% | 46.15% | 23.32% | 23.79% | -5.02% | 2.31% | 6.18% | 39.33% | -4.58% | 23.31% |
Returns By Period
In the year-to-date period, DFEN achieves a -1.16% return, which is significantly lower than XAR's 5.33% return.
DFEN
- 1D
- 11.19%
- 1M
- -30.09%
- YTD
- -1.16%
- 6M
- 1.22%
- 1Y
- 127.12%
- 3Y*
- 56.37%
- 5Y*
- 30.53%
- 10Y*
- —
XAR
- 1D
- 4.85%
- 1M
- -10.20%
- YTD
- 5.33%
- 6M
- 8.19%
- 1Y
- 58.67%
- 3Y*
- 30.25%
- 5Y*
- 15.56%
- 10Y*
- 18.07%
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DFEN vs. XAR - Expense Ratio Comparison
DFEN has a 0.99% expense ratio, which is higher than XAR's 0.35% expense ratio.
Return for Risk
DFEN vs. XAR — Risk / Return Rank
DFEN
XAR
DFEN vs. XAR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) and SPDR S&P Aerospace & Defense ETF (XAR). 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.
| DFEN | XAR | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.83 | 2.09 | -0.26 |
Sortino ratioReturn per unit of downside risk | 2.27 | 2.76 | -0.49 |
Omega ratioGain probability vs. loss probability | 1.32 | 1.35 | -0.04 |
Calmar ratioReturn relative to maximum drawdown | 3.03 | 3.34 | -0.31 |
Martin ratioReturn relative to average drawdown | 10.38 | 11.77 | -1.39 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DFEN | XAR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.83 | 2.09 | -0.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.52 | 0.68 | -0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.74 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | 0.83 | -0.62 |
Correlation
The correlation between DFEN and XAR is 0.94, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
DFEN vs. XAR - Dividend Comparison
DFEN's dividend yield for the trailing twelve months is around 9.03%, more than XAR's 0.35% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares | 9.03% | 8.89% | 14.12% | 1.13% | 0.46% | 1.89% | 0.48% | 0.50% | 1.07% | 1.50% | 0.00% | 0.00% |
XAR SPDR S&P Aerospace & Defense ETF | 0.35% | 0.40% | 0.66% | 0.54% | 0.50% | 0.83% | 0.63% | 0.75% | 1.19% | 0.76% | 1.09% | 2.31% |
Drawdowns
DFEN vs. XAR - Drawdown Comparison
The maximum DFEN drawdown since its inception was -91.36%, which is greater than XAR's maximum drawdown of -46.37%. Use the drawdown chart below to compare losses from any high point for DFEN and XAR.
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Drawdown Indicators
| DFEN | XAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.36% | -46.37% | -44.99% |
Max Drawdown (1Y)Largest decline over 1 year | -41.75% | -17.22% | -24.53% |
Max Drawdown (5Y)Largest decline over 5 years | -56.23% | -32.40% | -23.83% |
Max Drawdown (10Y)Largest decline over 10 years | — | -46.37% | — |
Current DrawdownCurrent decline from peak | -35.23% | -13.20% | -22.03% |
Average DrawdownAverage peak-to-trough decline | -45.54% | -6.76% | -38.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.18% | 4.88% | +7.30% |
Volatility
DFEN vs. XAR - Volatility Comparison
Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) has a higher volatility of 23.85% compared to SPDR S&P Aerospace & Defense ETF (XAR) at 10.26%. This indicates that DFEN's price experiences larger fluctuations and is considered to be riskier than XAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFEN | XAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.85% | 10.26% | +13.59% |
Volatility (6M)Calculated over the trailing 6-month period | 48.18% | 21.34% | +26.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 69.88% | 28.28% | +41.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 59.00% | 22.91% | +36.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.31% | 24.34% | +46.97% |