DRIP vs. EIPX
DRIP (Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares) and EIPX (FT Energy Income Partners Strategy 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 EIPX is a Energy Equities fund actively managed by First Trust. DRIP is passively managed, while EIPX is actively managed. Over the past 3 years, DRIP returned -27.26%/yr vs 21.25%/yr for EIPX. At a correlation of -0.82, they often move in opposite directions. DRIP charges 1.07%/yr vs 0.95%/yr for EIPX.
Performance
DRIP vs. EIPX - Performance Comparison
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Returns By Period
In the year-to-date period, DRIP achieves a -41.20% return, which is significantly lower than EIPX's 20.93% return.
DRIP
- 1D
- -0.94%
- 1M
- 18.92%
- YTD
- -41.20%
- 6M
- -40.68%
- 1Y
- -42.23%
- 3Y*
- -27.26%
- 5Y*
- -38.71%
- 10Y*
- -42.06%
EIPX
- 1D
- 1.02%
- 1M
- -3.17%
- YTD
- 20.93%
- 6M
- 20.98%
- 1Y
- 27.12%
- 3Y*
- 21.25%
- 5Y*
- —
- 10Y*
- —
DRIP vs. EIPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | -41.20% | -14.81% | 1.27% | -17.24% | 11.09% |
EIPX FT Energy Income Partners Strategy ETF | 20.93% | 11.44% | 19.11% | 10.74% | 1.77% |
Correlation
The correlation between DRIP and EIPX is -0.74, 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 | -0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.80 |
Correlation (All Time) Calculated using the full available price history since Nov 3, 2022 | -0.82 |
The correlation between DRIP and EIPX has been stable across timeframes, ranging from -0.82 to -0.74 - a consistent structural relationship.
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Return for Risk
DRIP vs. EIPX — Risk / Return Rank
DRIP
EIPX
DRIP vs. EIPX - 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 FT Energy Income Partners Strategy ETF (EIPX). 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.
| DRIP | EIPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.20 | ||
| Sortino ratioReturn per unit of downside risk | -4.50 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.41 | -0.52 |
| Calmar ratioReturn relative to maximum drawdown | -0.68 | 5.27 | -5.95 |
| Martin ratioReturn relative to average drawdown | -1.25 | 16.25 | -17.51 |
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Drawdowns
DRIP vs. EIPX - Drawdown Comparison
The maximum DRIP drawdown since its inception was -99.95%, which is greater than EIPX's maximum drawdown of -15.43%. Use the drawdown chart below to compare losses from any high point for DRIP and EIPX.
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Drawdown Indicators
| DRIP | EIPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.95% | -15.43% | -84.52% |
Max Drawdown (1Y)Largest decline over 1 year | -62.18% | -5.17% | -57.01% |
Max Drawdown (3Y)Largest decline over 3 years | -76.02% | -15.43% | -60.59% |
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 | -99.93% | -3.41% | -96.52% |
Average DrawdownAverage peak-to-trough decline | -90.46% | -2.29% | -88.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.75% | 1.67% | +32.08% |
Volatility
DRIP vs. EIPX - Volatility Comparison
Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) has a higher volatility of 18.04% compared to FT Energy Income Partners Strategy ETF (EIPX) at 3.61%. This indicates that DRIP's price experiences larger fluctuations and is considered to be riskier than EIPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRIP | EIPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.04% | 3.61% | +14.43% |
Volatility (6M)Calculated over the trailing 6-month period | 43.68% | 8.44% | +35.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.75% | 11.17% | +45.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.37% | 15.02% | +53.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 96.33% | 15.02% | +81.31% |
DRIP vs. EIPX - Expense Ratio Comparison
DRIP has a 1.07% expense ratio, which is higher than EIPX's 0.95% expense ratio.
Dividends
DRIP vs. EIPX - Dividend Comparison
DRIP's dividend yield for the trailing twelve months is around 3.36%, more than EIPX's 2.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | 3.36% | 2.86% | 4.38% | 5.09% | 0.00% | 0.00% | 0.01% | 0.96% | 0.58% |
EIPX FT Energy Income Partners Strategy ETF | 2.70% | 3.23% | 3.27% | 3.48% | 0.34% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DRIP and EIPX have a correlation of -0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DRIP has higher volatility (18.04%) compared to EIPX (3.61%). In terms of maximum drawdown, DRIP dropped -99.95% vs EIPX's -15.43%.
On 3-year performance, EIPX leads with 21.25% vs -27.26% for DRIP. On fees, EIPX is cheaper at 0.95% per year. On volatility, EIPX has been the lower-risk option at 3.61%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, EIPX has performed better with a 21.25% return vs -27.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EIPX is cheaper with a 0.95% expense ratio, compared with 1.07% for DRIP.
DRIP has the higher dividend yield at 3.36%, compared with 2.70% for EIPX.
DRIP is categorized as Leveraged Equities, while EIPX is Energy Equities. They also come from different issuers: Direxion and First Trust. Their fees differ too: 1.07% for DRIP and 0.95% for EIPX.
EIPX currently has the higher Sharpe Ratio (2.45 vs -0.75), 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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