DRIP vs. IYE
DRIP (Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares) and IYE (iShares U.S. Energy 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 IYE is a Energy Equities fund tracking the Dow Jones U.S. Oil & Gas Index. Both are passively managed. Over the past 10 years, DRIP returned -42.27%/yr vs 8.17%/yr for IYE. At a correlation of -0.91, they often move in opposite directions. DRIP charges 1.07%/yr vs 0.42%/yr for IYE.
Performance
DRIP vs. IYE - Performance Comparison
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Returns By Period
In the year-to-date period, DRIP achieves a -48.08% return, which is significantly lower than IYE's 28.09% return. Over the past 10 years, DRIP has underperformed IYE with an annualized return of -42.27%, while IYE has yielded a comparatively higher 8.17% annualized return.
DRIP
- 1D
- -8.32%
- 1M
- -1.64%
- 6M
- -46.66%
- YTD
- -48.08%
- 1Y
- -45.69%
- 3Y*
- -27.37%
- 5Y*
- -42.71%
- 10Y*
- -42.27%
IYE
- 1D
- 2.85%
- 1M
- -0.68%
- 6M
- 24.07%
- YTD
- 28.09%
- 1Y
- 30.70%
- 3Y*
- 14.87%
- 5Y*
- 20.63%
- 10Y*
- 8.17%
DRIP vs. IYE - 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 | -48.08% | -14.81% | 1.27% | -17.24% | -73.57% | -79.74% | -42.76% | -36.11% | 49.62% | -9.05% |
IYE iShares U.S. Energy ETF | 28.09% | 7.33% | 6.06% | -2.21% | 60.21% | 53.42% | -33.49% | 10.03% | -19.37% | -1.80% |
Correlation
The correlation between DRIP and IYE is -0.90, 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 | -0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.91 |
Correlation (All Time) Calculated using the full available price history since May 29, 2015 | -0.91 |
The correlation between DRIP and IYE has been stable across timeframes, ranging from -0.93 to -0.90 - a consistent structural relationship.
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Return for Risk
DRIP vs. IYE — Risk / Return Rank
DRIP
IYE
DRIP vs. IYE - 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 U.S. Energy ETF (IYE). 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 | IYE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.32 | ||
| Sortino ratioReturn per unit of downside risk | -3.18 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 1.25 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.74 | 2.12 | -2.86 |
| Martin ratioReturn relative to average drawdown | -1.29 | 5.73 | -7.02 |
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Drawdowns
DRIP vs. IYE - Drawdown Comparison
The maximum DRIP drawdown since its inception was -99.95%, which is greater than IYE's maximum drawdown of -73.74%. Use the drawdown chart below to compare losses from any high point for DRIP and IYE.
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Drawdown Indicators
| DRIP | IYE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.95% | -73.74% | -26.21% |
Max Drawdown (1Y)Largest decline over 1 year | -62.18% | -14.54% | -47.64% |
Max Drawdown (3Y)Largest decline over 3 years | -76.02% | -20.37% | -55.65% |
Max Drawdown (5Y)Largest decline over 5 years | -96.24% | -25.61% | -70.63% |
Max Drawdown (10Y)Largest decline over 10 years | -99.92% | -68.59% | -31.33% |
Current DrawdownCurrent decline from peak | -99.94% | -8.49% | -91.45% |
Average DrawdownAverage peak-to-trough decline | -90.51% | -19.33% | -71.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.50% | 5.40% | +30.10% |
Volatility
DRIP vs. IYE - Volatility Comparison
Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) has a higher volatility of 17.28% compared to iShares U.S. Energy ETF (IYE) at 7.04%. This indicates that DRIP's price experiences larger fluctuations and is considered to be riskier than IYE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRIP | IYE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.28% | 7.04% | +10.24% |
Volatility (6M)Calculated over the trailing 6-month period | 44.06% | 16.25% | +27.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.84% | 20.50% | +36.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.18% | 25.62% | +42.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.90% | 29.50% | +66.40% |
DRIP vs. IYE - Expense Ratio Comparison
DRIP has a 1.07% expense ratio, which is higher than IYE's 0.42% expense ratio.
Dividends
DRIP vs. IYE - Dividend Comparison
DRIP's dividend yield for the trailing twelve months is around 3.42%, more than IYE's 2.22% 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 | 3.42% | 2.86% | 4.38% | 5.09% | 0.00% | 0.00% | 0.01% | 0.96% | 0.58% | 0.00% | 0.00% | 0.00% |
IYE iShares U.S. Energy ETF | 2.22% | 2.85% | 2.75% | 2.99% | 3.37% | 2.98% | 4.75% | 6.60% | 3.16% | 2.66% | 2.11% | 3.39% |
Frequently Asked Questions
DRIP and IYE have a correlation of -0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DRIP has higher volatility (17.28%) compared to IYE (7.04%). In terms of maximum drawdown, DRIP dropped -99.95% vs IYE's -73.74%.
On 10-year performance, IYE leads with 8.17% vs -42.27% for DRIP. On fees, IYE is cheaper at 0.42% per year. On volatility, IYE has been the lower-risk option at 7.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IYE has performed better with a 8.17% return vs -42.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IYE is cheaper with a 0.42% expense ratio, compared with 1.07% for DRIP.
DRIP has the higher dividend yield at 3.42%, compared with 2.22% for IYE.
DRIP is categorized as Leveraged Equities, while IYE is Energy Equities. DRIP tracks S&P Oil & Gas Exploration & Production Select Industry Index (-300%), while IYE tracks Dow Jones U.S. Oil & Gas Index. They also come from different issuers: Direxion and iShares. Their fees differ too: 1.07% for DRIP and 0.42% for IYE.
IYE currently has the higher Sharpe Ratio (1.51 vs -0.81), 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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