DRIP vs. DRLL
DRIP (Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares) and DRLL (Strive U.S. Energy ETF) are both exchange-traded funds - DRIP is a Leveraged Equities fund tracking the S&P Oil & Gas Exploration & Production Select Industry Index (-300%), while DRLL is a Energy Equities fund tracking the Bloomberg US Energy Select Index. Both are passively managed. Over the past 3 years, DRIP returned -31.50%/yr vs 14.74%/yr for DRLL. At a correlation of -0.93, they often move in opposite directions. DRIP charges 1.07%/yr vs 0.41%/yr for DRLL.
Performance
DRIP vs. DRLL - Performance Comparison
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Returns By Period
In the year-to-date period, DRIP achieves a -50.33% return, which is significantly lower than DRLL's 30.70% return.
DRIP
- 1D
- 0.22%
- 1M
- 9.31%
- YTD
- -50.33%
- 6M
- -42.76%
- 1Y
- -57.98%
- 3Y*
- -31.50%
- 5Y*
- -41.60%
- 10Y*
- -42.45%
DRLL
- 1D
- -0.43%
- 1M
- -2.43%
- YTD
- 30.70%
- 6M
- 26.68%
- 1Y
- 45.18%
- 3Y*
- 14.74%
- 5Y*
- —
- 10Y*
- —
DRIP vs. DRLL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | -50.33% | -14.81% | 1.27% | -17.24% | -25.55% |
DRLL Strive U.S. Energy ETF | 30.70% | 7.74% | 0.02% | -1.84% | 16.56% |
Correlation
The correlation between DRIP and DRLL is -0.93, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.92 |
Correlation (All Time) Calculated using the full available price history since Aug 10, 2022 | -0.93 |
The correlation between DRIP and DRLL has been stable across timeframes, ranging from -0.93 to -0.92 - a consistent structural relationship.
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Return for Risk
DRIP vs. DRLL — Risk / Return Rank
DRIP
DRLL
DRIP vs. DRLL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) and Strive U.S. Energy ETF (DRLL). 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.
| DRIP | DRLL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.10 | ||
| Sortino ratioReturn per unit of downside risk | -4.43 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 1.33 | -0.52 |
| Calmar ratioReturn relative to maximum drawdown | -0.91 | 3.26 | -4.17 |
| Martin ratioReturn relative to average drawdown | -1.69 | 9.19 | -10.88 |
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
| DRIP | DRLL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.05 | 2.04 | -3.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.61 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.44 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.42 | 0.56 | -0.98 |
Drawdowns
DRIP vs. DRLL - Drawdown Comparison
The maximum DRIP drawdown since its inception was -99.95%, which is greater than DRLL's maximum drawdown of -23.73%. Use the drawdown chart below to compare losses from any high point for DRIP and DRLL.
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Drawdown Indicators
| DRIP | DRLL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.95% | -23.73% | -76.22% |
Max Drawdown (1Y)Largest decline over 1 year | -63.84% | -13.93% | -49.91% |
Max Drawdown (3Y)Largest decline over 3 years | -76.02% | -23.73% | -52.29% |
Max Drawdown (5Y)Largest decline over 5 years | -96.24% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.92% | — | — |
Current DrawdownCurrent decline from peak | -99.94% | -8.49% | -91.45% |
Average DrawdownAverage peak-to-trough decline | -90.46% | -8.02% | -82.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.32% | 4.93% | +29.39% |
Volatility
DRIP vs. DRLL - Volatility Comparison
Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) has a higher volatility of 19.67% compared to Strive U.S. Energy ETF (DRLL) at 9.15%. This indicates that DRIP's price experiences larger fluctuations and is considered to be riskier than DRLL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRIP | DRLL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.67% | 9.15% | +10.52% |
Volatility (6M)Calculated over the trailing 6-month period | 42.89% | 18.00% | +24.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.51% | 22.30% | +33.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.36% | 23.75% | +44.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 96.57% | 23.75% | +72.82% |
DRIP vs. DRLL - Expense Ratio Comparison
DRIP has a 1.07% expense ratio, which is higher than DRLL's 0.41% expense ratio.
Dividends
DRIP vs. DRLL - Dividend Comparison
DRIP's dividend yield for the trailing twelve months is around 3.98%, more than DRLL's 2.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | 3.98% | 2.86% | 4.38% | 5.09% | 0.00% | 0.00% | 0.01% | 0.96% | 0.58% |
DRLL Strive U.S. Energy ETF | 2.34% | 2.99% | 3.00% | 3.01% | 1.18% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DRIP and DRLL have a correlation of -0.93, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DRIP has higher volatility (19.67%) compared to DRLL (9.15%). In terms of maximum drawdown, DRIP dropped -99.95% vs DRLL's -23.73%.
On 3-year performance, DRLL leads with 14.74% vs -31.50% for DRIP. On fees, DRLL is cheaper at 0.41% per year. On volatility, DRLL has been the lower-risk option at 9.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, DRLL has performed better with a 14.74% return vs -31.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DRLL is cheaper with a 0.41% expense ratio, compared with 1.07% for DRIP.
DRIP has the higher dividend yield at 3.98%, compared with 2.34% for DRLL.
DRIP is categorized as Leveraged Equities, while DRLL is Energy Equities. DRIP tracks S&P Oil & Gas Exploration & Production Select Industry Index (-300%), while DRLL tracks Bloomberg US Energy Select Index. They also come from different issuers: Direxion and Strive. Their fees differ too: 1.07% for DRIP and 0.41% for DRLL.
DRLL currently has the higher Sharpe Ratio (2.04 vs -1.05), 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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