EDZ vs. OOQB
EDZ (Direxion Daily Emerging Markets Bear 3X Shares) and OOQB (Volatility Shares One+One Nasdaq-100® and Bitcoin ETF) are both exchange-traded funds - EDZ is a Leveraged Equities fund tracking the MSCI Emerging Markets Index (-300%), while OOQB is a Nasdaq-100 fund actively managed by Volatility Shares. EDZ is passively managed, while OOQB is actively managed. Over the past year, EDZ returned -74.18% vs -26.47% for OOQB. At a correlation of -0.53, they often move in opposite directions. EDZ charges 1.08%/yr vs 0.75%/yr for OOQB.
Performance
EDZ vs. OOQB - Performance Comparison
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Returns By Period
In the year-to-date period, EDZ achieves a -56.25% return, which is significantly lower than OOQB's -18.43% return.
EDZ
- 1D
- 3.62%
- 1M
- -18.11%
- YTD
- -56.25%
- 6M
- -58.86%
- 1Y
- -74.18%
- 3Y*
- -48.04%
- 5Y*
- -24.82%
- 10Y*
- -36.41%
OOQB
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- -18.43%
- 6M
- -24.56%
- 1Y
- -26.47%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EDZ vs. OOQB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
EDZ Direxion Daily Emerging Markets Bear 3X Shares | -56.25% | -51.24% |
OOQB Volatility Shares One+One Nasdaq-100® and Bitcoin ETF | -18.43% | -13.30% |
Correlation
The correlation between EDZ and OOQB is -0.53, 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 | -0.53 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025 | -0.53 |
The correlation between EDZ and OOQB has been stable across timeframes, ranging from -0.53 to -0.53 - a consistent structural relationship.
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Return for Risk
EDZ vs. OOQB — Risk / Return Rank
EDZ
OOQB
EDZ vs. OOQB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Emerging Markets Bear 3X Shares (EDZ) and Volatility Shares One+One Nasdaq-100® and Bitcoin ETF (OOQB). 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.
| EDZ | OOQB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.74 | ||
| Sortino ratioReturn per unit of downside risk | -2.12 | ||
| Omega ratioGain probability vs. loss probability | 0.70 | 0.94 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.98 | -0.50 | -0.48 |
| Martin ratioReturn relative to average drawdown | -1.68 | -0.88 | -0.80 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EDZ | OOQB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.25 | -0.52 | -0.74 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.44 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.60 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.60 | -0.41 | -0.20 |
Drawdowns
EDZ vs. OOQB - Drawdown Comparison
The maximum EDZ drawdown since its inception was -99.99%, which is greater than OOQB's maximum drawdown of -53.44%. Use the drawdown chart below to compare losses from any high point for EDZ and OOQB.
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Drawdown Indicators
| EDZ | OOQB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -53.44% | -46.55% |
Max Drawdown (1Y)Largest decline over 1 year | -75.74% | -53.44% | -22.30% |
Max Drawdown (3Y)Largest decline over 3 years | -89.69% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -92.33% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.11% | — | — |
Current DrawdownCurrent decline from peak | -99.99% | -43.69% | -56.30% |
Average DrawdownAverage peak-to-trough decline | -97.73% | -23.32% | -74.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 44.50% | 30.24% | +14.26% |
Volatility
EDZ vs. OOQB - Volatility Comparison
Direxion Daily Emerging Markets Bear 3X Shares (EDZ) has a higher volatility of 25.57% compared to Volatility Shares One+One Nasdaq-100® and Bitcoin ETF (OOQB) at 0.00%. This indicates that EDZ's price experiences larger fluctuations and is considered to be riskier than OOQB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EDZ | OOQB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 25.57% | 0.00% | +25.57% |
Volatility (6M)Calculated over the trailing 6-month period | 51.95% | 38.69% | +13.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.51% | 51.51% | +8.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 57.00% | 58.03% | -1.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 60.97% | 58.03% | +2.94% |
EDZ vs. OOQB - Expense Ratio Comparison
EDZ has a 1.08% expense ratio, which is higher than OOQB's 0.75% expense ratio.
Dividends
EDZ vs. OOQB - Dividend Comparison
EDZ's dividend yield for the trailing twelve months is around 10.10%, less than OOQB's 11.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
EDZ Direxion Daily Emerging Markets Bear 3X Shares | 10.10% | 6.58% | 4.87% | 4.34% | 0.00% | 0.00% | 0.82% | 1.67% | 0.68% |
OOQB Volatility Shares One+One Nasdaq-100® and Bitcoin ETF | 11.62% | 9.53% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EDZ and OOQB have a correlation of -0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EDZ has higher volatility (25.57%) compared to OOQB (0.00%). In terms of maximum drawdown, EDZ dropped -99.99% vs OOQB's -53.44%.
On 1-year performance, OOQB leads with -26.47% vs -74.18% for EDZ. On fees, OOQB is cheaper at 0.75% per year. On volatility, OOQB has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, OOQB has performed better with a -26.47% return vs -74.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OOQB is cheaper with a 0.75% expense ratio, compared with 1.08% for EDZ.
OOQB has the higher dividend yield at 11.62%, compared with 10.10% for EDZ.
EDZ is categorized as Leveraged Equities, while OOQB is Nasdaq-100. They also come from different issuers: Direxion and Volatility Shares. Their fees differ too: 1.08% for EDZ and 0.75% for OOQB.
OOQB currently has the higher Sharpe Ratio (-0.52 vs -1.25), 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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