EIPX vs. ERX

Last updated Aug 2, 2026

EIPX (FT Energy Income Partners Strategy ETF) and ERX (Direxion Daily Energy Bull 2X Shares) are both Energy Equities funds. EIPX is actively managed, while ERX is passively managed. Over the past 3 years, EIPX returned 19.41%/yr vs 17.67%/yr for ERX. Their correlation of 0.84 means they have usually moved in the same direction. EIPX charges 0.95%/yr vs 0.91%/yr for ERX.

Performance

EIPX vs. ERX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Energy Income Partners Strategy ETF (EIPX) and Direxion Daily Energy Bull 2X Shares (ERX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EIPX achieves a 24.74% return, which is significantly lower than ERX's 71.01% return.

EIPX

• 1D: 0.49%
• 1M: 3.77%
• 6M: 14.96%
• YTD: 24.74%
• 1Y: 29.89%
• 3Y*: 19.41%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.15%

ERX

• 1D: 1.98%
• 1M: 23.93%
• 6M: 32.46%
• YTD: 71.01%
• 1Y: 85.96%
• 3Y*: 17.67%
• 5Y*: 35.70%
• 10Y*: -8.11%
• ALL TIME*: -6.99%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EIPX FT Energy Income Partners Strategy ETF	$1.76M	$1.94M	$1.35M
ERX Direxion Daily Energy Bull 2X Shares	$22.14M	$22.35M	$28.47M

EIPX vs. ERX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
EIPX FT Energy Income Partners Strategy ETF	24.74%	11.44%	19.11%	10.74%	1.77%
ERX Direxion Daily Energy Bull 2X Shares	71.01%	2.79%	1.09%	-12.26%	-2.94%

Correlation

The correlation between EIPX and ERX is 0.81, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.81
Correlation (3Y) Balances recent behavior with more history.	0.83
Correlation (All Time) Calculated using the full available price history since Nov 3, 2022	0.84

The correlation between EIPX and ERX has been stable across timeframes, ranging from 0.81 to 0.84 - a consistent structural relationship.

EIPX vs. ERX - Sectors Allocation Comparison

Sectors	EIPX	ERX
Energy	68.3%	100.0%
Utilities	27.0%	-
Industrials	4.5%	-
Technology	0.3%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

EIPX vs. ERX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

EIPX

EIPX Risk / Return Rank: 93
EIPX Sharpe Ratio Rank: 93
EIPX Sortino Ratio Rank: 93
EIPX Omega Ratio Rank: 91
EIPX Calmar Ratio Rank: 95
EIPX Martin Ratio Rank: 92

ERX

ERX Risk / Return Rank: 71
ERX Sharpe Ratio Rank: 82
ERX Sortino Ratio Rank: 72
ERX Omega Ratio Rank: 69
ERX Calmar Ratio Rank: 76
ERX Martin Ratio Rank: 57

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

EIPX vs. ERX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Energy Income Partners Strategy ETF (EIPX) and Direxion Daily Energy Bull 2X Shares (ERX). 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.

	EIPX	ERX	Difference
Sharpe ratio: Return per unit of total volatility	2.51	1.88	+0.63
Sortino ratio: Return per unit of downside risk	3.59	2.31	+1.28
Omega ratio: Gain probability vs. loss probability	1.43	1.29	+0.14
Calmar ratio: Return relative to maximum drawdown	5.56	2.65	+2.91
Martin ratio: Return relative to average drawdown	15.59	6.74	+8.85

EIPX vs. ERX - Sharpe Ratio Comparison

The current EIPX Sharpe Ratio is 2.51, which is higher than the ERX Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of EIPX and ERX, 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

EIPX vs. ERX - Drawdown Comparison

The maximum EIPX drawdown since its inception was -15.43%, smaller than the maximum ERX drawdown of -99.54%. Use the drawdown chart below to compare losses from any high point for EIPX and ERX.

Drawdown Indicators

	EIPX	ERX	Difference
Max Drawdown Largest peak-to-trough decline	-15.43%	-99.54%	+84.11%
Max Drawdown (1Y) Largest decline over 1 year	-5.17%	-29.97%	+24.80%
Max Drawdown (3Y) Largest decline over 3 years	-15.43%	-42.34%	+26.91%
Max Drawdown (5Y) Largest decline over 5 years	—	-46.90%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-98.59%	—
Current Drawdown Current decline from peak	-0.94%	-91.37%	+90.43%
Average Drawdown Average peak-to-trough decline	-2.28%	-67.24%	+64.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	11.83%	-9.98%

Volatility

EIPX vs. ERX - Volatility Comparison

The current volatility for FT Energy Income Partners Strategy ETF (EIPX) is 3.45%, while Direxion Daily Energy Bull 2X Shares (ERX) has a volatility of 11.87%. This indicates that EIPX experiences smaller price fluctuations and is considered to be less risky than ERX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EIPX	ERX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.45%	11.87%	-8.42%
Volatility (6M) Calculated over the trailing 6-month period	8.73%	33.76%	-25.03%
Volatility (1Y) Calculated over the trailing 1-year period	11.44%	42.31%	-30.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.95%	51.50%	-36.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.95%	68.84%	-53.89%

EIPX vs. ERX - Expense Ratio Comparison

EIPX has a 0.95% expense ratio, which is higher than ERX's 0.91% expense ratio.

Dividends

EIPX vs. ERX - Dividend Comparison

EIPX's dividend yield for the trailing twelve months is around 2.69%, more than ERX's 1.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
EIPX FT Energy Income Partners Strategy ETF	2.69%	3.23%	3.27%	3.48%	0.34%	0.00%	0.00%	0.00%	0.00%	0.00%
ERX Direxion Daily Energy Bull 2X Shares	1.49%	2.54%	2.94%	3.17%	2.23%	2.16%	2.35%	1.56%	3.10%	0.85%

Frequently Asked Questions

Can I hold both EIPX and ERX in my portfolio?

EIPX and ERX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EIPX or ERX?

ERX has higher volatility (11.87%) compared to EIPX (3.45%). In terms of maximum drawdown, EIPX dropped -15.43% vs ERX's -99.54%.

Which ETF is better, EIPX or ERX?

On 3-year performance, EIPX leads with 19.41% vs 17.67% for ERX. On fees, ERX is cheaper at 0.91% per year. On volatility, EIPX has been the lower-risk option at 3.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EIPX or ERX?

Over the 3-year period, EIPX has performed better with a 19.41% return vs 17.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EIPX or ERX?

ERX is cheaper with a 0.91% expense ratio, compared with 0.95% for EIPX.

Which ETF pays a higher dividend yield, EIPX or ERX?

EIPX has the higher dividend yield at 2.69%, compared with 1.49% for ERX.

What is the main difference between EIPX and ERX?

They also come from different issuers: First Trust and Direxion. Their fees differ too: 0.95% for EIPX and 0.91% for ERX.

Which has better risk-adjusted returns?

EIPX currently has the higher Sharpe Ratio (2.51 vs 1.88), 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.