DRIP vs. IGE
DRIP (Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares) and IGE (iShares North American Natural Resources 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 IGE is a Energy Equities fund tracking the S&P North American Natural Resources Sector Index. Both are passively managed. Over the past 10 years, DRIP returned -42.06%/yr vs 9.09%/yr for IGE. At a correlation of -0.89, they often move in opposite directions. DRIP charges 1.07%/yr vs 0.39%/yr for IGE.
Performance
DRIP vs. IGE - 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 IGE's 15.54% return. Over the past 10 years, DRIP has underperformed IGE with an annualized return of -42.06%, while IGE has yielded a comparatively higher 9.09% annualized 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%
IGE
- 1D
- -0.66%
- 1M
- -6.23%
- YTD
- 15.54%
- 6M
- 14.58%
- 1Y
- 31.93%
- 3Y*
- 18.55%
- 5Y*
- 16.34%
- 10Y*
- 9.09%
DRIP vs. IGE - 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 | -41.20% | -14.81% | 1.27% | -17.24% | -73.57% | -79.74% | -42.76% | -36.11% | 49.62% | -9.05% |
IGE iShares North American Natural Resources ETF | 15.54% | 20.41% | 7.55% | 3.12% | 33.24% | 39.42% | -19.58% | 17.16% | -21.59% | 0.82% |
Correlation
The correlation between DRIP and IGE is -0.69, 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 | -0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.83 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.89 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.89 |
Correlation (All Time) Calculated using the full available price history since May 29, 2015 | -0.89 |
The correlation between DRIP and IGE shifts across timeframes, from -0.89 (all time) to -0.69 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DRIP vs. IGE — Risk / Return Rank
DRIP
IGE
DRIP vs. IGE - 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 iShares North American Natural Resources ETF (IGE). 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 | IGE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.70 | ||
| Sortino ratioReturn per unit of downside risk | -3.64 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.33 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | -0.68 | 3.65 | -4.33 |
| Martin ratioReturn relative to average drawdown | -1.25 | 11.94 | -13.19 |
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Drawdowns
DRIP vs. IGE - Drawdown Comparison
The maximum DRIP drawdown since its inception was -99.95%, which is greater than IGE's maximum drawdown of -67.55%. Use the drawdown chart below to compare losses from any high point for DRIP and IGE.
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Drawdown Indicators
| DRIP | IGE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.95% | -67.55% | -32.40% |
Max Drawdown (1Y)Largest decline over 1 year | -62.18% | -8.80% | -53.38% |
Max Drawdown (3Y)Largest decline over 3 years | -76.02% | -19.49% | -56.53% |
Max Drawdown (5Y)Largest decline over 5 years | -96.24% | -25.72% | -70.52% |
Max Drawdown (10Y)Largest decline over 10 years | -99.92% | -60.57% | -39.35% |
Current DrawdownCurrent decline from peak | -99.93% | -8.73% | -91.20% |
Average DrawdownAverage peak-to-trough decline | -90.46% | -18.87% | -71.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.75% | 2.68% | +31.07% |
Volatility
DRIP vs. IGE - Volatility Comparison
Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) has a higher volatility of 18.04% compared to iShares North American Natural Resources ETF (IGE) at 5.32%. This indicates that DRIP's price experiences larger fluctuations and is considered to be riskier than IGE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRIP | IGE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.04% | 5.32% | +12.72% |
Volatility (6M)Calculated over the trailing 6-month period | 43.68% | 12.96% | +30.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.75% | 16.51% | +40.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.37% | 22.41% | +45.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 96.33% | 24.93% | +71.40% |
DRIP vs. IGE - Expense Ratio Comparison
DRIP has a 1.07% expense ratio, which is higher than IGE's 0.39% expense ratio.
Dividends
DRIP vs. IGE - Dividend Comparison
DRIP's dividend yield for the trailing twelve months is around 3.36%, more than IGE's 2.07% 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 | 3.36% | 2.86% | 4.38% | 5.09% | 0.00% | 0.00% | 0.01% | 0.96% | 0.58% | 0.00% | 0.00% | 0.00% |
IGE iShares North American Natural Resources ETF | 2.07% | 2.32% | 2.54% | 2.85% | 2.96% | 2.92% | 3.34% | 5.55% | 2.68% | 2.11% | 1.66% | 3.08% |
Frequently Asked Questions
DRIP and IGE have a correlation of -0.69, 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 IGE (5.32%). In terms of maximum drawdown, DRIP dropped -99.95% vs IGE's -67.55%.
On 10-year performance, IGE leads with 9.09% vs -42.06% for DRIP. On fees, IGE is cheaper at 0.39% per year. On volatility, IGE has been the lower-risk option at 5.32%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IGE has performed better with a 9.09% return vs -42.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IGE is cheaper with a 0.39% expense ratio, compared with 1.07% for DRIP.
DRIP has the higher dividend yield at 3.36%, compared with 2.07% for IGE.
DRIP is categorized as Leveraged Equities, while IGE is Energy Equities. DRIP tracks S&P Oil & Gas Exploration & Production Select Industry Index (-300%), while IGE tracks S&P North American Natural Resources Sector Index. They also come from different issuers: Direxion and iShares. Their fees differ too: 1.07% for DRIP and 0.39% for IGE.
IGE currently has the higher Sharpe Ratio (1.95 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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