EDC vs. AVES
EDC (Direxion Daily Emerging Markets Bull 3X Shares) and AVES (Avantis Emerging Markets Value ETF) are both exchange-traded funds - EDC is a Leveraged Equities fund tracking the MSCI Emerging Markets Index (300%), while AVES is a Emerging Markets Equities fund actively managed by Avantis. EDC is passively managed, while AVES is actively managed. Over the past 3 years, EDC returned 45.52%/yr vs 19.21%/yr for AVES. Their correlation of 0.93 suggests significant overlap in exposure. EDC charges 1.33%/yr vs 0.36%/yr for AVES.
Performance
EDC vs. AVES - Performance Comparison
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Returns By Period
In the year-to-date period, EDC achieves a 55.46% return, which is significantly higher than AVES's 12.71% return.
EDC
- 1D
- -17.43%
- 1M
- 1.18%
- YTD
- 55.46%
- 6M
- 58.75%
- 1Y
- 138.81%
- 3Y*
- 45.52%
- 5Y*
- -2.63%
- 10Y*
- 8.13%
AVES
- 1D
- -4.26%
- 1M
- -0.95%
- YTD
- 12.71%
- 6M
- 12.82%
- 1Y
- 29.26%
- 3Y*
- 19.21%
- 5Y*
- —
- 10Y*
- —
EDC vs. AVES - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EDC Direxion Daily Emerging Markets Bull 3X Shares | 55.46% | 94.58% | -2.00% | 7.48% | -60.25% | -4.53% |
AVES Avantis Emerging Markets Value ETF | 12.71% | 30.49% | 4.50% | 16.79% | -16.04% | 0.95% |
Correlation
The correlation between EDC and AVES is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021 | 0.93 |
The correlation between EDC and AVES has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.
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Return for Risk
EDC vs. AVES — Risk / Return Rank
EDC
AVES
EDC vs. AVES - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Emerging Markets Bull 3X Shares (EDC) and Avantis Emerging Markets Value ETF (AVES). 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.
| EDC | AVES | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.50 | ||
| Sortino ratioReturn per unit of downside risk | +0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.30 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.68 | 2.28 | +1.40 |
| Martin ratioReturn relative to average drawdown | 12.31 | 8.21 | +4.10 |
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Drawdowns
EDC vs. AVES - Drawdown Comparison
The maximum EDC drawdown since its inception was -92.54%, which is greater than AVES's maximum drawdown of -27.40%. Use the drawdown chart below to compare losses from any high point for EDC and AVES.
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Drawdown Indicators
| EDC | AVES | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -92.54% | -27.40% | -65.14% |
Max Drawdown (1Y)Largest decline over 1 year | -37.98% | -12.90% | -25.08% |
Max Drawdown (3Y)Largest decline over 3 years | -49.48% | -18.50% | -30.98% |
Max Drawdown (5Y)Largest decline over 5 years | -80.70% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -87.01% | — | — |
Current DrawdownCurrent decline from peak | -67.00% | -5.18% | -61.82% |
Average DrawdownAverage peak-to-trough decline | -65.34% | -7.67% | -57.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.33% | 3.57% | +7.76% |
Volatility
EDC vs. AVES - Volatility Comparison
Direxion Daily Emerging Markets Bull 3X Shares (EDC) has a higher volatility of 39.16% compared to Avantis Emerging Markets Value ETF (AVES) at 9.99%. This indicates that EDC's price experiences larger fluctuations and is considered to be riskier than AVES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EDC | AVES | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 39.16% | 9.99% | +29.17% |
Volatility (6M)Calculated over the trailing 6-month period | 62.81% | 16.81% | +46.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.25% | 19.01% | +49.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 58.62% | 17.36% | +41.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 61.23% | 17.36% | +43.87% |
EDC vs. AVES - Expense Ratio Comparison
EDC has a 1.33% expense ratio, which is higher than AVES's 0.36% expense ratio.
Dividends
EDC vs. AVES - Dividend Comparison
EDC's dividend yield for the trailing twelve months is around 1.10%, less than AVES's 3.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
AVES Avantis Emerging Markets Value ETF | 3.62% | 3.17% | 4.09% | 3.96% | 3.70% | 0.62% | 0.00% | 0.00% | 0.00% | 0.00% |
EDC Direxion Daily Emerging Markets Bull 3X Shares | 1.10% | 1.79% | 3.94% | 3.54% | 0.00% | 0.18% | 0.44% | 0.97% | 0.78% | 0.25% |
Frequently Asked Questions
With a correlation of 0.90, EDC and AVES move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
EDC has higher volatility (39.16%) compared to AVES (9.99%). In terms of maximum drawdown, EDC dropped -92.54% vs AVES's -27.40%.
On 3-year performance, EDC leads with 45.52% vs 19.21% for AVES. On fees, AVES is cheaper at 0.36% per year. On volatility, AVES has been the lower-risk option at 9.99%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, EDC has performed better with a 45.52% return vs 19.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AVES is cheaper with a 0.36% expense ratio, compared with 1.33% for EDC.
AVES has the higher dividend yield at 3.62%, compared with 1.10% for EDC.
EDC is categorized as Leveraged Equities, while AVES is Emerging Markets Equities. They also come from different issuers: Direxion and Avantis. Their fees differ too: 1.33% for EDC and 0.36% for AVES.
EDC currently has the higher Sharpe Ratio (2.05 vs 1.55), 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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