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 -42.26%/yr vs 5.85%/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 -48.85% return, which is significantly lower than FXN's 28.98% return. Over the past 10 years, DRIP has underperformed FXN with an annualized return of -42.26%, while FXN has yielded a comparatively higher 5.85% annualized return.
DRIP
- 1D
- -1.87%
- 1M
- -12.01%
- 6M
- -45.22%
- YTD
- -48.85%
- 1Y
- -51.35%
- 3Y*
- -27.47%
- 5Y*
- -44.18%
- 10Y*
- -42.26%
FXN
- 1D
- 0.43%
- 1M
- 2.29%
- 6M
- 24.59%
- YTD
- 28.98%
- 1Y
- 41.26%
- 3Y*
- 12.41%
- 5Y*
- 18.52%
- 10Y*
- 5.85%
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 | -48.85% | -14.81% | 1.27% | -17.24% | -73.57% | -79.74% | -42.76% | -36.11% | 49.62% | -9.05% |
FXN First Trust Energy AlphaDEX Fund | 28.98% | 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 -0.95, 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 | -0.95 |
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 May 29, 2015 | -0.96 |
The correlation between DRIP and FXN has been stable across timeframes, ranging from -0.97 to -0.95 - 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.
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 | FXN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.70 | ||
| Sortino ratioReturn per unit of downside risk | -3.76 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.29 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.83 | 3.09 | -3.92 |
| Martin ratioReturn relative to average drawdown | -1.43 | 7.78 | -9.21 |
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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 | -62.18% | -13.41% | -48.77% |
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% | -8.70% | -91.24% |
Average DrawdownAverage peak-to-trough decline | -90.52% | -37.81% | -52.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.99% | 5.31% | +30.68% |
Volatility
DRIP vs. FXN - Volatility Comparison
Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) has a higher volatility of 13.80% compared to First Trust Energy AlphaDEX Fund (FXN) at 5.44%. 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 | 13.80% | 5.44% | +8.36% |
Volatility (6M)Calculated over the trailing 6-month period | 43.96% | 16.98% | +26.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.53% | 23.23% | +33.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.91% | 28.80% | +39.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.86% | 34.82% | +61.04% |
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 3.47%, more than FXN's 1.70% 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 | 3.47% | 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 | 1.70% | 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 -0.95, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DRIP has higher volatility (13.80%) compared to FXN (5.44%). In terms of maximum drawdown, DRIP dropped -99.95% vs FXN's -87.39%.
On 10-year performance, FXN leads with 5.85% vs -42.26% for DRIP. On fees, FXN is cheaper at 0.64% per year. On volatility, FXN has been the lower-risk option at 5.44%. 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 5.85% return vs -42.26%. 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 3.47%, compared with 1.70% 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 (1.79 vs -0.91), 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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