EDC vs. FLYU

Last updated Jul 22, 2026

EDC (Direxion Daily Emerging Markets Bull 3X Shares) and FLYU (MicroSectors Travel 3X Leveraged ETNs) are both Leveraged Equities funds - EDC tracks the MSCI Emerging Markets Index (300%) while FLYU tracks the MerQube MicroSectors U.S. Travel Index. Both are passively managed. Over the past 3 years, EDC returned 37.14%/yr vs -1.34%/yr for FLYU. A 0.52 correlation means they provide meaningful diversification when combined. EDC charges 1.33%/yr vs 0.95%/yr for FLYU.

Performance

EDC vs. FLYU - Performance Comparison

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

Returns By Period

In the year-to-date period, EDC achieves a 39.94% return, which is significantly higher than FLYU's -17.85% return.

EDC

• 1D: 8.14%
• 1M: -24.43%
• 6M: 22.95%
• YTD: 39.94%
• 1Y: 83.57%
• 3Y*: 37.14%
• 5Y*: -2.65%
• 10Y*: 4.08%
• ALL TIME*: 1.82%

FLYU

• 1D: 0.11%
• 1M: -9.91%
• 6M: -9.30%
• YTD: -17.85%
• 1Y: -22.80%
• 3Y*: -1.34%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.87%

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

EDC vs. FLYU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
EDC Direxion Daily Emerging Markets Bull 3X Shares	39.94%	94.58%	-2.00%	7.48%	-22.96%
FLYU MicroSectors Travel 3X Leveraged ETNs	-17.85%	-2.29%	33.00%	111.16%	-19.09%

Correlation

The correlation between EDC and FLYU is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (All Time) Calculated using the full available price history since Jun 22, 2022	0.52

The correlation between EDC and FLYU has been stable across timeframes, ranging from 0.44 to 0.52 - a consistent structural relationship.

EDC vs. FLYU - Sectors Allocation Comparison

Sectors	EDC	FLYU
Technology	32.7%	16.4%
Financial Services	20.8%	-
Consumer Cyclical	10.3%	52.6%
Communication Services	7.8%	13.2%
Industrials	7.3%	17.7%
Basic Materials	7.0%	-
Energy	4.4%	-
Consumer Defensive	3.2%	-
Healthcare	3.2%	-
Utilities	2.2%	-
Real Estate	1.1%	0.1%

Return for Risk

EDC vs. FLYU — Risk / Return Rank

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

EDC

EDC Risk / Return Rank: 50
EDC Sharpe Ratio Rank: 44
EDC Sortino Ratio Rank: 44
EDC Omega Ratio Rank: 51
EDC Calmar Ratio Rank: 59
EDC Martin Ratio Rank: 52

FLYU

FLYU Risk / Return Rank: 7
FLYU Sharpe Ratio Rank: 7
FLYU Sortino Ratio Rank: 9
FLYU Omega Ratio Rank: 9
FLYU Calmar Ratio Rank: 6
FLYU Martin Ratio Rank: 6

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. FLYU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Emerging Markets Bull 3X Shares (EDC) and MicroSectors Travel 3X Leveraged ETNs (FLYU). 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	FLYU	Difference
Sharpe ratio: Return per unit of total volatility	1.18	-0.31	+1.48
Sortino ratio: Return per unit of downside risk	1.74	0.03	+1.70
Omega ratio: Gain probability vs. loss probability	1.24	1.00	+0.24
Calmar ratio: Return relative to maximum drawdown	2.21	-0.44	+2.65
Martin ratio: Return relative to average drawdown	6.48	-0.88	+7.36

EDC vs. FLYU - Sharpe Ratio Comparison

The current EDC Sharpe Ratio is 1.18, which is higher than the FLYU Sharpe Ratio of -0.31. The chart below compares the historical Sharpe Ratios of EDC and FLYU, 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. FLYU - Drawdown Comparison

The maximum EDC drawdown since its inception was -92.54%, which is greater than FLYU's maximum drawdown of -69.00%. Use the drawdown chart below to compare losses from any high point for EDC and FLYU.

Drawdown Indicators

	EDC	FLYU	Difference
Max Drawdown Largest peak-to-trough decline	-92.54%	-69.00%	-23.54%
Max Drawdown (1Y) Largest decline over 1 year	-37.98%	-52.33%	+14.35%
Max Drawdown (3Y) Largest decline over 3 years	-49.48%	-69.00%	+19.52%
Max Drawdown (5Y) Largest decline over 5 years	-77.83%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-87.01%	—	—
Current Drawdown Current decline from peak	-70.30%	-34.84%	-35.46%
Average Drawdown Average peak-to-trough decline	-65.36%	-26.59%	-38.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.94%	25.94%	-13.00%

Volatility

EDC vs. FLYU - Volatility Comparison

Direxion Daily Emerging Markets Bull 3X Shares (EDC) has a higher volatility of 30.23% compared to MicroSectors Travel 3X Leveraged ETNs (FLYU) at 17.61%. This indicates that EDC's price experiences larger fluctuations and is considered to be riskier than FLYU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EDC	FLYU	Difference
Volatility (1M) Calculated over the trailing 1-month period	30.23%	17.61%	+12.62%
Volatility (6M) Calculated over the trailing 6-month period	66.13%	61.02%	+5.11%
Volatility (1Y) Calculated over the trailing 1-year period	71.38%	74.53%	-3.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.25%	82.89%	-23.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	61.41%	82.89%	-21.48%

EDC vs. FLYU - Expense Ratio Comparison

EDC has a 1.33% expense ratio, which is higher than FLYU's 0.95% expense ratio.

Dividends

EDC vs. FLYU - Dividend Comparison

EDC's dividend yield for the trailing twelve months is around 1.42%, while FLYU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
EDC Direxion Daily Emerging Markets Bull 3X Shares	1.42%	1.79%	3.94%	3.54%	0.00%	0.18%	0.44%	0.97%	0.78%	0.25%
FLYU MicroSectors Travel 3X Leveraged ETNs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EDC and FLYU in my portfolio?

EDC and FLYU have a correlation of 0.44, 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 FLYU?

EDC has higher volatility (30.23%) compared to FLYU (17.61%). In terms of maximum drawdown, EDC dropped -92.54% vs FLYU's -69.00%.

Which ETF is better, EDC or FLYU?

On 3-year performance, EDC leads with 37.14% vs -1.34% for FLYU. On fees, FLYU is cheaper at 0.95% per year. On volatility, FLYU has been the lower-risk option at 17.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EDC or FLYU?

Over the 3-year period, EDC has performed better with a 37.14% return vs -1.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EDC or FLYU?

FLYU is cheaper with a 0.95% expense ratio, compared with 1.33% for EDC.

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

EDC has the higher dividend yield at 1.42%, compared with 0.00% for FLYU.

What is the main difference between EDC and FLYU?

EDC tracks MSCI Emerging Markets Index (300%), while FLYU tracks MerQube MicroSectors U.S. Travel Index. They also come from different issuers: Direxion and REX. Their fees differ too: 1.33% for EDC and 0.95% for FLYU.

Which has better risk-adjusted returns?

EDC currently has the higher Sharpe Ratio (1.18 vs -0.31), 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.