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DPST vs. KBWB
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DPST vs. KBWB

Last updated Jun 23, 2026

DPST (Direxion Daily Regional Banks Bull 3X Shares) and KBWB (Invesco KBW Bank ETF) are both exchange-traded funds - DPST is a Leveraged Equities fund tracking the Solactive US Regional Banks Total Return Index (300%), while KBWB is a Financials Equities fund tracking the KBW Nasdaq Bank Index. Both are passively managed. Over the past 10 years, DPST returned -11.53%/yr vs 13.99%/yr for KBWB. Their correlation of 0.90 suggests significant overlap in exposure. DPST charges 0.99%/yr vs 0.35%/yr for KBWB.

Performance

DPST vs. KBWB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Regional Banks Bull 3X Shares (DPST) and Invesco KBW Bank ETF (KBWB). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, DPST achieves a 25.97% return, which is significantly higher than KBWB's 12.18% return. Over the past 10 years, DPST has underperformed KBWB with an annualized return of -11.53%, while KBWB has yielded a comparatively higher 13.99% annualized return.

DPST

1D
3.07%
1M
11.97%
YTD
25.97%
6M
13.08%
1Y
71.11%
3Y*
39.46%
5Y*
-20.47%
10Y*
-11.53%

KBWB

1D
1.42%
1M
8.59%
YTD
12.18%
6M
10.15%
1Y
41.92%
3Y*
36.76%
5Y*
11.16%
10Y*
13.99%
*Multi-year figures are annualized to reflect compound growth (CAGR)

DPST vs. KBWB - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
DPST
Direxion Daily Regional Banks Bull 3X Shares		25.97%-5.90%15.48%-55.79%-54.10%108.31%-76.53%70.65%-56.75%7.28%
KBWB
Invesco KBW Bank ETF		12.18%32.05%36.73%-1.18%-21.68%37.72%-10.46%35.90%-18.30%18.11%

Correlation

The correlation between DPST and KBWB is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.83

Correlation (3Y)
Calculated over the trailing 3-year period

0.89

Correlation (5Y)
Calculated over the trailing 5-year period

0.91

Correlation (10Y)
Calculated over the trailing 10-year period

0.92

Correlation (All Time)
Calculated using the full available price history since Aug 19, 2015

0.90

The correlation between DPST and KBWB has been stable across timeframes, ranging from 0.83 to 0.92 - a consistent structural relationship.

DPST vs. KBWB - Sectors Allocation Comparison

Sectors
DPST
KBWB

Financial Services

100.0%
100.0%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Financial Services

DPST
100.0%
KBWB
100.0%

Basic Materials

DPST

-

KBWB

-

Communication Services

DPST

-

KBWB

-

Consumer Cyclical

DPST

-

KBWB

-

Consumer Defensive

DPST

-

KBWB

-

Energy

DPST

-

KBWB

-

Healthcare

DPST

-

KBWB

-

Industrials

DPST

-

KBWB

-

Real Estate

DPST

-

KBWB

-

Technology

DPST

-

KBWB

-

Utilities

DPST

-

KBWB

-

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Direxion Daily Regional Banks Bull 3X Shares

Invesco KBW Bank ETF

Often compared with DPST:
DPST vs. KREDPST vs. FASDPST vs. BNKUDPST vs. NAILDPST vs. DRNDPST vs. KORUDPST vs. SKRE
Often compared with KBWB:
KBWB vs. XLFKBWB vs. KREKBWB vs. KBEKBWB vs. VFHKBWB vs. IYFKBWB vs. SPYKBWB vs. FTXO

Return for Risk

DPST vs. KBWB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DPST
DPST Risk / Return Rank: 3232
Overall Rank
DPST Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
DPST Sortino Ratio Rank: 3232
Sortino Ratio Rank
DPST Omega Ratio Rank: 3333
Omega Ratio Rank
DPST Calmar Ratio Rank: 3636
Calmar Ratio Rank
DPST Martin Ratio Rank: 2929
Martin Ratio Rank
KBWB
KBWB Risk / Return Rank: 5858
Overall Rank
KBWB Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
KBWB Sortino Ratio Rank: 5959
Sortino Ratio Rank
KBWB Omega Ratio Rank: 6161
Omega Ratio Rank
KBWB Calmar Ratio Rank: 5353
Calmar Ratio Rank
KBWB Martin Ratio Rank: 4949
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DPST vs. KBWB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Regional Banks Bull 3X Shares (DPST) and Invesco KBW Bank ETF (KBWB). 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.

DPSTKBWBDifference
Sharpe ratioReturn per unit of total volatility
1.03
2.08

-1.05

Sortino ratioReturn per unit of downside risk
1.65
2.69

-1.04

Omega ratioGain probability vs. loss probability

1.22

1.36

-0.14

Calmar ratioReturn relative to maximum drawdown

1.77

2.57

-0.80

Martin ratioReturn relative to average drawdown

3.92

8.09

-4.17

DPST vs. KBWB - Sharpe Ratio Comparison

The current DPST Sharpe Ratio is 1.03, which is lower than the KBWB Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of DPST and KBWB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

DPST vs. KBWB - Drawdown Comparison

The maximum DPST drawdown since its inception was -97.73%, which is greater than KBWB's maximum drawdown of -50.27%. Use the drawdown chart below to compare losses from any high point for DPST and KBWB.

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Drawdown Indicators

DPSTKBWBDifference

Max Drawdown

Largest peak-to-trough decline

-97.73%

-50.27%

-47.46%

Max Drawdown (1Y)

Largest decline over 1 year

-40.44%

-16.38%

-24.06%

Max Drawdown (3Y)

Largest decline over 3 years

-68.38%

-25.43%

-42.95%

Max Drawdown (5Y)

Largest decline over 5 years

-93.99%

-49.31%

-44.68%

Max Drawdown (10Y)

Largest decline over 10 years

-97.73%

-50.27%

-47.46%

Current Drawdown

Current decline from peak

-92.29%

0.00%

-92.29%

Average Drawdown

Average peak-to-trough decline

-64.24%

-11.70%

-52.54%

Ulcer Index

Depth and duration of drawdowns from previous peaks

18.21%

5.20%

+13.01%

Volatility

DPST vs. KBWB - Volatility Comparison

Direxion Daily Regional Banks Bull 3X Shares (DPST) has a higher volatility of 18.44% compared to Invesco KBW Bank ETF (KBWB) at 5.65%. This indicates that DPST's price experiences larger fluctuations and is considered to be riskier than KBWB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DPSTKBWBDifference

Volatility (1M)

Calculated over the trailing 1-month period

18.44%

5.65%

+12.79%

Volatility (6M)

Calculated over the trailing 6-month period

47.98%

15.88%

+32.10%

Volatility (1Y)

Calculated over the trailing 1-year period

69.35%

20.30%

+49.05%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

88.96%

26.55%

+62.41%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

94.55%

29.21%

+65.34%

DPST vs. KBWB - Expense Ratio Comparison

DPST has a 0.99% expense ratio, which is higher than KBWB's 0.35% expense ratio.

Dividends

DPST vs. KBWB - Dividend Comparison

DPST's dividend yield for the trailing twelve months is around 1.68%, less than KBWB's 2.43% yield.

PositionTTM20252024202320222021202020192018201720162015
DPST
Direxion Daily Regional Banks Bull 3X Shares		1.68%2.18%1.55%1.78%1.51%0.58%0.90%1.29%2.18%0.30%0.00%0.00%
KBWB
Invesco KBW Bank ETF		2.43%2.04%2.46%3.20%3.05%2.13%2.62%2.38%2.54%1.35%1.53%1.53%

Frequently Asked Questions

DPST and KBWB have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DPST has higher volatility (18.44%) compared to KBWB (5.65%). In terms of maximum drawdown, DPST dropped -97.73% vs KBWB's -50.27%.

On 10-year performance, KBWB leads with 13.99% vs -11.53% for DPST. On fees, KBWB is cheaper at 0.35% per year. On volatility, KBWB has been the lower-risk option at 5.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, KBWB has performed better with a 13.99% return vs -11.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

KBWB is cheaper with a 0.35% expense ratio, compared with 0.99% for DPST.

KBWB has the higher dividend yield at 2.43%, compared with 1.68% for DPST.

DPST is categorized as Leveraged Equities, while KBWB is Financials Equities. DPST tracks Solactive US Regional Banks Total Return Index (300%), while KBWB tracks KBW Nasdaq Bank Index. They also come from different issuers: Direxion and Invesco. Their fees differ too: 0.99% for DPST and 0.35% for KBWB.

KBWB currently has the higher Sharpe Ratio (2.08 vs 1.03), 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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