DIG vs. ERX
Compare and contrast key facts about ProShares Ultra Oil & Gas (DIG) and Direxion Daily Energy Bull 2X Shares (ERX).
DIG and ERX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DIG is a passively managed fund by ProShares that tracks the performance of the Dow Jones U.S. Oil & Gas Index (200%). It was launched on Jan 30, 2007. ERX is a passively managed fund by Direxion that tracks the performance of the Energy Select Sector Index (300%). It was launched on Apr 1, 2020. Both DIG and ERX are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: DIG or ERX.
Key characteristics
| DIG | ERX | |
|---|---|---|
| YTD Return | 19.72% | 20.31% |
| 1Y Return | 31.68% | 32.79% |
| 3Y Return (Ann) | 43.59% | 43.22% |
| 5Y Return (Ann) | 6.79% | -17.91% |
| 10Y Return (Ann) | -5.86% | -23.02% |
| Sharpe Ratio | 0.72 | 0.74 |
| Daily Std Dev | 37.23% | 37.61% |
| Max Drawdown | -97.04% | -99.54% |
| Current Drawdown | -65.39% | -94.16% |
Correlation
The correlation between DIG and ERX is 0.99, 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.
Performance
DIG vs. ERX - Performance Comparison
The year-to-date returns for both investments are quite close, with DIG having a 19.72% return and ERX slightly higher at 20.31%. Over the past 10 years, DIG has outperformed ERX with an annualized return of -5.86%, while ERX has yielded a comparatively lower -23.02% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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DIG vs. ERX - Expense Ratio Comparison
DIG has a 0.95% expense ratio, which is lower than ERX's 1.09% expense ratio.
Risk-Adjusted Performance
DIG vs. ERX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Oil & Gas (DIG) and Direxion Daily Energy Bull 2X Shares (ERX). 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.
Dividends
DIG vs. ERX - Dividend Comparison
DIG's dividend yield for the trailing twelve months is around 1.05%, less than ERX's 2.68% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DIG ProShares Ultra Oil & Gas | 1.05% | 0.61% | 1.33% | 2.24% | 3.18% | 2.72% | 2.30% | 1.76% | 1.09% | 1.56% | 0.87% | 0.43% |
ERX Direxion Daily Energy Bull 2X Shares | 2.68% | 3.17% | 2.23% | 2.16% | 2.35% | 1.56% | 3.10% | 0.85% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
DIG vs. ERX - Drawdown Comparison
The maximum DIG drawdown since its inception was -97.04%, roughly equal to the maximum ERX drawdown of -99.54%. Use the drawdown chart below to compare losses from any high point for DIG and ERX. For additional features, visit the drawdowns tool.
Volatility
DIG vs. ERX - Volatility Comparison
ProShares Ultra Oil & Gas (DIG) and Direxion Daily Energy Bull 2X Shares (ERX) have volatilities of 9.22% and 9.31%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.