EDC vs. BRZU

Last updated Jun 13, 2026

EDC (Direxion Daily Emerging Markets Bull 3X Shares) and BRZU (Direxion Daily Brazil Bull 2X Shares) are both Leveraged Equities funds from Direxion - EDC tracks the MSCI Emerging Markets Index (300%) while BRZU tracks the MSCI Brazil 25/50 Index. Both are passively managed. Over the past 10 years, EDC returned 8.38%/yr vs -15.10%/yr for BRZU. A 0.64 correlation means they provide meaningful diversification when combined. EDC charges 1.33%/yr vs 1.29%/yr for BRZU.

Performance

EDC vs. BRZU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Emerging Markets Bull 3X Shares (EDC) and Direxion Daily Brazil Bull 2X Shares (BRZU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EDC achieves a 62.45% return, which is significantly higher than BRZU's 14.47% return. Over the past 10 years, EDC has outperformed BRZU with an annualized return of 8.38%, while BRZU has yielded a comparatively lower -15.10% annualized return.

EDC

• 1D: 1.22%
• 1M: -1.45%
• YTD: 62.45%
• 6M: 72.90%
• 1Y: 137.10%
• 3Y*: 43.12%
• 5Y*: -2.02%
• 10Y*: 8.38%

BRZU

• 1D: 1.74%
• 1M: -9.87%
• YTD: 14.47%
• 6M: 11.16%
• 1Y: 53.22%
• 3Y*: 6.31%
• 5Y*: -2.87%
• 10Y*: -15.10%

*Multi-year figures are annualized to reflect compound growth (CAGR)

EDC vs. BRZU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EDC Direxion Daily Emerging Markets Bull 3X Shares	62.45%	94.58%	-2.00%	7.48%	-60.25%	-20.81%	6.49%	43.92%	-49.87%	138.61%
BRZU Direxion Daily Brazil Bull 2X Shares	14.47%	97.99%	-57.07%	55.48%	8.30%	-39.23%	-91.34%	57.02%	-37.21%	30.80%

Correlation

The correlation between EDC and BRZU is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (10Y) Calculated over the trailing 10-year period	0.60
Correlation (All Time) Calculated using the full available price history since Apr 10, 2013	0.64

The correlation between EDC and BRZU shifts across timeframes, from 0.54 (5 years) to 0.64 (all time), reflecting how their relationship changes across market environments.

EDC vs. BRZU - Sectors Allocation Comparison

Sectors	EDC	BRZU
Technology	32.7%	0.9%
Financial Services	20.8%	32.7%
Consumer Cyclical	10.3%	1.5%
Communication Services	7.8%	2.2%
Industrials	7.3%	10.9%
Basic Materials	7.0%	13.7%
Energy	4.4%	18.7%
Consumer Defensive	3.2%	4.2%
Healthcare	3.2%	2.4%
Utilities	2.2%	12.8%
Real Estate	1.1%	-

Return for Risk

EDC vs. BRZU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EDC

EDC Risk / Return Rank: 71
EDC Sharpe Ratio Rank: 76
EDC Sortino Ratio Rank: 60
EDC Omega Ratio Rank: 68
EDC Calmar Ratio Rank: 79
EDC Martin Ratio Rank: 74

BRZU

BRZU Risk / Return Rank: 34
BRZU Sharpe Ratio Rank: 33
BRZU Sortino Ratio Rank: 33
BRZU Omega Ratio Rank: 34
BRZU Calmar Ratio Rank: 34
BRZU Martin Ratio Rank: 34

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EDC vs. BRZU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Emerging Markets Bull 3X Shares (EDC) and Direxion Daily Brazil Bull 2X Shares (BRZU). 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	BRZU	Difference
Sharpe ratio: Return per unit of total volatility	2.13	1.07	+1.06
Sortino ratio: Return per unit of downside risk	2.47	1.59	+0.87
Omega ratio: Gain probability vs. loss probability	1.35	1.20	+0.15
Calmar ratio: Return relative to maximum drawdown	3.63	1.49	+2.15
Martin ratio: Return relative to average drawdown	12.25	4.43	+7.82

EDC vs. BRZU - Sharpe Ratio Comparison

The current EDC Sharpe Ratio is 2.13, which is higher than the BRZU Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of EDC and BRZU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EDC vs. BRZU - Drawdown Comparison

The maximum EDC drawdown since its inception was -92.54%, smaller than the maximum BRZU drawdown of -99.71%. Use the drawdown chart below to compare losses from any high point for EDC and BRZU.

Drawdown Indicators

	EDC	BRZU	Difference
Max Drawdown Largest peak-to-trough decline	-92.54%	-99.71%	+7.17%
Max Drawdown (1Y) Largest decline over 1 year	-37.98%	-35.97%	-2.01%
Max Drawdown (3Y) Largest decline over 3 years	-49.48%	-58.25%	+8.77%
Max Drawdown (5Y) Largest decline over 5 years	-80.70%	-65.00%	-15.70%
Max Drawdown (10Y) Largest decline over 10 years	-87.01%	-98.11%	+11.10%
Current Drawdown Current decline from peak	-65.52%	-99.18%	+33.66%
Average Drawdown Average peak-to-trough decline	-65.35%	-89.55%	+24.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.25%	12.06%	-0.81%

Volatility

EDC vs. BRZU - Volatility Comparison

Direxion Daily Emerging Markets Bull 3X Shares (EDC) has a higher volatility of 33.39% compared to Direxion Daily Brazil Bull 2X Shares (BRZU) at 14.76%. This indicates that EDC's price experiences larger fluctuations and is considered to be riskier than BRZU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EDC	BRZU	Difference
Volatility (1M) Calculated over the trailing 1-month period	33.39%	14.76%	+18.63%
Volatility (6M) Calculated over the trailing 6-month period	58.40%	39.95%	+18.45%
Volatility (1Y) Calculated over the trailing 1-year period	64.72%	50.10%	+14.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	57.74%	55.45%	+2.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	61.12%	82.91%	-21.79%

EDC vs. BRZU - Expense Ratio Comparison

EDC has a 1.33% expense ratio, which is higher than BRZU's 1.29% expense ratio.

Dividends

EDC vs. BRZU - Dividend Comparison

EDC's dividend yield for the trailing twelve months is around 1.05%, less than BRZU's 2.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BRZU Direxion Daily Brazil Bull 2X Shares	2.33%	2.39%	8.73%	3.24%	4.70%	6.29%	0.78%	0.95%	1.04%	0.74%
EDC Direxion Daily Emerging Markets Bull 3X Shares	1.05%	1.79%	3.94%	3.54%	0.00%	0.18%	0.44%	0.97%	0.78%	0.25%

Frequently Asked Questions

Can I hold both EDC and BRZU in my portfolio?

EDC and BRZU have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EDC or BRZU?

EDC has higher volatility (33.39%) compared to BRZU (14.76%). In terms of maximum drawdown, EDC dropped -92.54% vs BRZU's -99.71%.

Which ETF is better, EDC or BRZU?

On 10-year performance, EDC leads with 8.38% vs -15.10% for BRZU. On fees, BRZU is cheaper at 1.29% per year. On volatility, BRZU has been the lower-risk option at 14.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EDC or BRZU?

Over the 10-year period, EDC has performed better with a 8.38% return vs -15.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EDC or BRZU?

BRZU is cheaper with a 1.29% expense ratio, compared with 1.33% for EDC.

Which ETF pays a higher dividend yield, EDC or BRZU?

BRZU has the higher dividend yield at 2.33%, compared with 1.05% for EDC.

What is the main difference between EDC and BRZU?

EDC tracks MSCI Emerging Markets Index (300%), while BRZU tracks MSCI Brazil 25/50 Index. Their fees differ too: 1.33% for EDC and 1.29% for BRZU.

Which has better risk-adjusted returns?

EDC currently has the higher Sharpe Ratio (2.13 vs 1.07), 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.