DRIP vs. IFED
DRIP (Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares) and IFED (ETRACS IFED Invest with the Fed TR Index ETN) are both Leveraged Equities funds - DRIP tracks the S&P Oil & Gas Exploration & Production Select Industry Index (-300%) while IFED tracks the IFED Large-Cap US Equity Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, DRIP returned -24.65%/yr vs 18.28%/yr for IFED. Their -0.43 correlation means they have often moved in opposite directions in the past. DRIP charges 1.07%/yr vs 0.45%/yr for IFED.
Performance
DRIP vs. IFED - Performance Comparison
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Returns By Period
In the year-to-date period, DRIP achieves a -53.72% return, which is significantly lower than IFED's 6.57% return.
DRIP
- 1D
- 3.59%
- 1M
- -22.42%
- 6M
- -46.02%
- YTD
- -53.72%
- 1Y
- -57.86%
- 3Y*
- -24.65%
- 5Y*
- -45.76%
- 10Y*
- -42.61%
- ALL TIME*
- -41.99%
IFED
- 1D
- -3.14%
- 1M
- 10.34%
- 6M
- 10.05%
- YTD
- 6.57%
- 1Y
- 11.16%
- 3Y*
- 18.28%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 14.62%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $16.92M | $63.12M | $132.02M | |
| $137.39K | $84.48K | $45.67K |
DRIP vs. IFED - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | -53.72% | -14.81% | 1.27% | -17.24% | -73.57% | -34.47% |
IFED ETRACS IFED Invest with the Fed TR Index ETN | 6.57% | 15.02% | 23.04% | 20.78% | -1.46% | 8.46% |
Correlation
The correlation between DRIP and IFED is -0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.02 |
Correlation (3Y) Balances recent behavior with more history. | -0.25 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2021 | -0.43 |
Over the past year, the inverse relationship between DRIP and IFED has weakened: their correlation has moved from -0.43 to -0.02, meaning they move in opposite directions less often than they have historically.
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Return for Risk
DRIP vs. IFED — Risk / Return Rank
DRIP
IFED
DRIP vs. IFED - 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 ETRACS IFED Invest with the Fed TR Index ETN (IFED). 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 | IFED | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.40 | ||
| Sortino ratioReturn per unit of downside risk | -2.49 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.13 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.93 | 0.56 | -1.49 |
| Martin ratioReturn relative to average drawdown | -1.52 | 1.73 | -3.25 |
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Drawdowns
DRIP vs. IFED - Drawdown Comparison
The maximum DRIP drawdown since its inception was -99.95%, which is greater than IFED's maximum drawdown of -22.36%. Use the drawdown chart below to compare losses from any high point for DRIP and IFED.
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Drawdown Indicators
| DRIP | IFED | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.95% | -22.36% | -77.59% |
Max Drawdown (1Y)Largest decline over 1 year | -62.18% | -20.18% | -42.00% |
Max Drawdown (3Y)Largest decline over 3 years | -76.02% | -22.36% | -53.66% |
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% | -10.51% | -89.43% |
Average DrawdownAverage peak-to-trough decline | -90.56% | -5.85% | -84.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 38.17% | 6.47% | +31.70% |
Volatility
DRIP vs. IFED - Volatility Comparison
The current volatility for Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) is 17.47%, while ETRACS IFED Invest with the Fed TR Index ETN (IFED) has a volatility of 24.37%. This indicates that DRIP experiences smaller price fluctuations and is considered to be less risky than IFED based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRIP | IFED | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.47% | 24.37% | -6.90% |
Volatility (6M)Calculated over the trailing 6-month period | 44.98% | 28.13% | +16.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.84% | 29.53% | +27.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.64% | 22.60% | +45.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.72% | 22.60% | +73.12% |
DRIP vs. IFED - Expense Ratio Comparison
DRIP has a 1.07% expense ratio, which is higher than IFED's 0.45% expense ratio.
Dividends
DRIP vs. IFED - Dividend Comparison
DRIP's dividend yield for the trailing twelve months is around 3.84%, while IFED has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | 3.84% | 2.86% | 4.38% | 5.09% | 0.00% | 0.00% | 0.01% | 0.96% | 0.58% |
IFED ETRACS IFED Invest with the Fed TR Index ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DRIP and IFED have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IFED has higher volatility (24.37%) compared to DRIP (17.47%). In terms of maximum drawdown, DRIP dropped -99.95% vs IFED's -22.36%.
On 3-year performance, IFED leads with 18.28% vs -24.65% for DRIP. On fees, IFED is cheaper at 0.45% per year. On volatility, DRIP has been the lower-risk option at 17.47%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IFED has performed better with a 18.28% return vs -24.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IFED is cheaper with a 0.45% expense ratio, compared with 1.07% for DRIP.
DRIP has the higher dividend yield at 3.84%, compared with 0.00% for IFED.
DRIP tracks S&P Oil & Gas Exploration & Production Select Industry Index (-300%), while IFED tracks IFED Large-Cap US Equity Index - Benchmark TR Gross. They also come from different issuers: Direxion and UBS. Their fees differ too: 1.07% for DRIP and 0.45% for IFED.
IFED currently has the higher Sharpe Ratio (0.38 vs -1.02), 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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