DRIP vs. FXN
DRIP (Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares) and FXN (First Trust Energy AlphaDEX Fund) are both exchange-traded funds - DRIP is a Leveraged Equities fund tracking the S&P Oil & Gas Exploration & Production Select Industry Index (-300%), while FXN is a Energy Equities fund tracking the StrataQuant Energy Index. Both are passively managed. Over the past 10 years, DRIP returned -42.95%/yr vs 6.52%/yr for FXN. At a correlation of -0.96, they often move in opposite directions. DRIP charges 1.07%/yr vs 0.64%/yr for FXN.
Performance
DRIP vs. FXN - Performance Comparison
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Returns By Period
In the year-to-date period, DRIP achieves a -50.45% return, which is significantly lower than FXN's 36.03% return. Over the past 10 years, DRIP has underperformed FXN with an annualized return of -42.95%, while FXN has yielded a comparatively higher 6.52% annualized return.
DRIP
- 1D
- -3.05%
- 1M
- 9.61%
- YTD
- -50.45%
- 6M
- -43.03%
- 1Y
- -56.10%
- 3Y*
- -30.92%
- 5Y*
- -41.62%
- 10Y*
- -42.95%
FXN
- 1D
- 1.09%
- 1M
- -1.59%
- YTD
- 36.03%
- 6M
- 30.89%
- 1Y
- 52.01%
- 3Y*
- 16.66%
- 5Y*
- 17.30%
- 10Y*
- 6.52%
DRIP vs. FXN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | -50.45% | -14.81% | 1.27% | -17.24% | -73.57% | -79.74% | -42.76% | -36.11% | 49.62% | -9.05% |
FXN First Trust Energy AlphaDEX Fund | 36.03% | 3.39% | 0.27% | 0.97% | 46.92% | 51.79% | -19.91% | -6.76% | -24.79% | -5.02% |
Correlation
The correlation between DRIP and FXN is -0.94, 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 | -0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.96 |
Correlation (All Time) Calculated using the full available price history since Jun 1, 2015 | -0.96 |
The correlation between DRIP and FXN has been stable across timeframes, ranging from -0.97 to -0.94 - a consistent structural relationship.
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Return for Risk
DRIP vs. FXN — Risk / Return Rank
DRIP
FXN
DRIP vs. FXN - 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 First Trust Energy AlphaDEX Fund (FXN). 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 | FXN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.24 | ||
| Sortino ratioReturn per unit of downside risk | -4.54 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.35 | -0.52 |
| Calmar ratioReturn relative to maximum drawdown | -0.88 | 4.42 | -5.30 |
| Martin ratioReturn relative to average drawdown | -1.64 | 12.53 | -14.17 |
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 | FXN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.01 | 2.23 | -3.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.61 | 0.60 | -1.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.45 | 0.19 | -0.63 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.42 | 0.06 | -0.48 |
Drawdowns
DRIP vs. FXN - Drawdown Comparison
The maximum DRIP drawdown since its inception was -99.95%, which is greater than FXN's maximum drawdown of -87.39%. Use the drawdown chart below to compare losses from any high point for DRIP and FXN.
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Drawdown Indicators
| DRIP | FXN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.95% | -87.39% | -12.56% |
Max Drawdown (1Y)Largest decline over 1 year | -63.84% | -11.82% | -52.02% |
Max Drawdown (3Y)Largest decline over 3 years | -76.02% | -31.69% | -44.33% |
Max Drawdown (5Y)Largest decline over 5 years | -96.24% | -31.69% | -64.55% |
Max Drawdown (10Y)Largest decline over 10 years | -99.92% | -80.63% | -19.29% |
Current DrawdownCurrent decline from peak | -99.94% | -3.71% | -96.23% |
Average DrawdownAverage peak-to-trough decline | -90.45% | -37.99% | -52.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.12% | 4.17% | +29.95% |
Volatility
DRIP vs. FXN - Volatility Comparison
Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) has a higher volatility of 19.66% compared to First Trust Energy AlphaDEX Fund (FXN) at 7.52%. This indicates that DRIP's price experiences larger fluctuations and is considered to be riskier than FXN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRIP | FXN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.66% | 7.52% | +12.14% |
Volatility (6M)Calculated over the trailing 6-month period | 43.05% | 17.08% | +25.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.64% | 23.55% | +32.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.36% | 28.92% | +39.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 96.59% | 35.00% | +61.59% |
DRIP vs. FXN - Expense Ratio Comparison
DRIP has a 1.07% expense ratio, which is higher than FXN's 0.64% expense ratio.
Dividends
DRIP vs. FXN - Dividend Comparison
DRIP's dividend yield for the trailing twelve months is around 3.99%, more than FXN's 1.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | 3.99% | 2.86% | 4.38% | 5.09% | 0.00% | 0.00% | 0.01% | 0.96% | 0.58% | 0.00% | 0.00% | 0.00% |
FXN First Trust Energy AlphaDEX Fund | 1.76% | 2.53% | 2.50% | 3.09% | 2.28% | 0.87% | 4.71% | 1.47% | 1.43% | 1.17% | 1.05% | 2.36% |
Frequently Asked Questions
DRIP and FXN have a correlation of -0.94, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DRIP has higher volatility (19.66%) compared to FXN (7.52%). In terms of maximum drawdown, DRIP dropped -99.95% vs FXN's -87.39%.
On 10-year performance, FXN leads with 6.52% vs -42.95% for DRIP. On fees, FXN is cheaper at 0.64% per year. On volatility, FXN has been the lower-risk option at 7.52%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FXN has performed better with a 6.52% return vs -42.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FXN is cheaper with a 0.64% expense ratio, compared with 1.07% for DRIP.
DRIP has the higher dividend yield at 3.99%, compared with 1.76% for FXN.
DRIP is categorized as Leveraged Equities, while FXN is Energy Equities. DRIP tracks S&P Oil & Gas Exploration & Production Select Industry Index (-300%), while FXN tracks StrataQuant Energy Index. They also come from different issuers: Direxion and First Trust. Their fees differ too: 1.07% for DRIP and 0.64% for FXN.
FXN currently has the higher Sharpe Ratio (2.23 vs -1.01), 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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