EDZ vs. TERG

Last updated Jun 5, 2026

EDZ (Direxion Daily Emerging Markets Bear 3X Shares) and TERG (Leverage Shares 2X Long TER Daily ETF) are both Leveraged Equities funds. EDZ is passively managed, while TERG is actively managed. At a correlation of -0.68, they often move in opposite directions. EDZ charges 1.08%/yr vs 0.75%/yr for TERG.

Performance

EDZ vs. TERG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Emerging Markets Bear 3X Shares (EDZ) and Leverage Shares 2X Long TER Daily ETF (TERG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EDZ achieves a -56.25% return, which is significantly lower than TERG's 225.36% 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%

TERG

• 1D: -1.30%
• 1M: 23.46%
• YTD: 225.36%
• 6M: 202.53%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EDZ vs. TERG - Yearly Performance Comparison

	2026 (YTD)	2025
EDZ Direxion Daily Emerging Markets Bear 3X Shares	-56.25%	-5.21%
TERG Leverage Shares 2X Long TER Daily ETF	225.36%	28.17%

Correlation

The correlation between EDZ and TERG is -0.68, 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 (All Time) Calculated using the full available price history since Nov 18, 2025	-0.68

Return for Risk

EDZ vs. TERG — Risk / Return Rank

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

EDZ

EDZ Risk / Return Rank: 0
EDZ Sharpe Ratio Rank: 1
EDZ Sortino Ratio Rank: 0
EDZ Omega Ratio Rank: 0
EDZ Calmar Ratio Rank: 0
EDZ Martin Ratio Rank: 0

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.

EDZ vs. TERG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Emerging Markets Bear 3X Shares (EDZ) and Leverage Shares 2X Long TER Daily ETF (TERG). 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	TERG	Difference
Sharpe ratio: Return per unit of total volatility	-1.25	—	—
Sortino ratio: Return per unit of downside risk	-2.59	—	—
Omega ratio: Gain probability vs. loss probability	0.70	—	—
Calmar ratio: Return relative to maximum drawdown	-0.98	—	—
Martin ratio: Return relative to average drawdown	-1.68	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	EDZ	TERG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.25	—	—
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	9.47	-10.07

Drawdowns

EDZ vs. TERG - Drawdown Comparison

The maximum EDZ drawdown since its inception was -99.99%, which is greater than TERG's maximum drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for EDZ and TERG.

Drawdown Indicators

	EDZ	TERG	Difference
Max Drawdown Largest peak-to-trough decline	-99.99%	-49.52%	-50.47%
Max Drawdown (1Y) Largest decline over 1 year	-75.74%	—	—
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 Drawdown Current decline from peak	-99.99%	-17.07%	-82.92%
Average Drawdown Average peak-to-trough decline	-97.73%	-13.75%	-83.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	44.50%	—	—

Volatility

Volatility by Period

	EDZ	TERG	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.57%	—	—
Volatility (6M) Calculated over the trailing 6-month period	51.95%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	59.51%	138.78%	-79.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	57.00%	138.78%	-81.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.97%	138.78%	-77.81%

EDZ vs. TERG - Expense Ratio Comparison

EDZ has a 1.08% expense ratio, which is higher than TERG's 0.75% expense ratio.

Dividends

EDZ vs. TERG - Dividend Comparison

EDZ's dividend yield for the trailing twelve months is around 10.10%, while TERG has not paid dividends to shareholders.

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%
TERG Leverage Shares 2X Long TER Daily ETF	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 EDZ and TERG in my portfolio?

EDZ and TERG have a correlation of -0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EDZ or TERG?

On fees, TERG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EDZ or TERG?

TERG is cheaper with a 0.75% expense ratio, compared with 1.08% for EDZ.

Which ETF pays a higher dividend yield, EDZ or TERG?

EDZ has the higher dividend yield at 10.10%, compared with 0.00% for TERG.

What is the main difference between EDZ and TERG?

They also come from different issuers: Direxion and Leverage Shares. Their fees differ too: 1.08% for EDZ and 0.75% for TERG.