ERX vs. BILD

Last updated Aug 6, 2026

ERX (Direxion Daily Energy Bull 2X Shares) and BILD (Macquarie Global Listed Infrastructure ETF) are both exchange-traded funds - ERX is a Energy Equities fund tracking the Energy Select Sector Index (200%), while BILD is a Infrastructure Equities fund actively managed by Macquarie. ERX is passively managed, while BILD is actively managed. Over the past year, ERX returned 73.31% vs 14.12% for BILD. Their 0.19 correlation means their historical movements had little consistent relationship. ERX charges 0.91%/yr vs 0.49%/yr for BILD.

Performance

ERX vs. BILD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Energy Bull 2X Shares (ERX) and Macquarie Global Listed Infrastructure ETF (BILD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ERX achieves a 58.73% return, which is significantly higher than BILD's 9.13% return.

ERX

• 1D: -3.72%
• 1M: 15.60%
• 6M: 14.96%
• YTD: 58.73%
• 1Y: 73.31%
• 3Y*: 14.98%
• 5Y*: 33.57%
• 10Y*: -9.50%
• ALL TIME*: -7.37%

BILD

• 1D: -1.09%
• 1M: -0.20%
• 6M: 3.60%
• YTD: 9.13%
• 1Y: 14.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 11.34%

*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)
BILD Macquarie Global Listed Infrastructure ETF	$1.68K	$25.00K	$12.93K
ERX Direxion Daily Energy Bull 2X Shares	$23.06M	$23.66M	$27.73M

ERX vs. BILD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ERX Direxion Daily Energy Bull 2X Shares	58.73%	2.79%	1.09%	-1.03%
BILD Macquarie Global Listed Infrastructure ETF	9.13%	21.08%	-2.68%	3.73%

Correlation

The correlation between ERX and BILD is 0.16, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.16
Correlation (All Time) Calculated using the full available price history since Nov 29, 2023	0.19

ERX vs. BILD - Sectors Allocation Comparison

Sectors	ERX	BILD
Energy	100.0%	19.0%
Basic Materials	-	-
Communication Services	-	4.7%
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	1.7%
Healthcare	-	-
Industrials	-	22.0%
Real Estate	-	1.9%
Technology	-	-
Utilities	-	48.8%

Return for Risk

ERX vs. BILD — Risk / Return Rank

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

ERX

ERX Risk / Return Rank: 56
ERX Sharpe Ratio Rank: 65
ERX Sortino Ratio Rank: 55
ERX Omega Ratio Rank: 52
ERX Calmar Ratio Rank: 61
ERX Martin Ratio Rank: 48

BILD

BILD Risk / Return Rank: 46
BILD Sharpe Ratio Rank: 45
BILD Sortino Ratio Rank: 43
BILD Omega Ratio Rank: 43
BILD Calmar Ratio Rank: 58
BILD Martin Ratio Rank: 44

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.

ERX vs. BILD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Energy Bull 2X Shares (ERX) and Macquarie Global Listed Infrastructure ETF (BILD). 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.

	ERX	BILD	Difference
Sharpe ratio: Return per unit of total volatility	1.74	1.29	+0.45
Sortino ratio: Return per unit of downside risk	2.19	1.79	+0.41
Omega ratio: Gain probability vs. loss probability	1.27	1.23	+0.04
Calmar ratio: Return relative to maximum drawdown	2.46	2.34	+0.11
Martin ratio: Return relative to average drawdown	6.18	5.56	+0.62

ERX vs. BILD - Sharpe Ratio Comparison

The current ERX Sharpe Ratio is 1.74, which is higher than the BILD Sharpe Ratio of 1.29. The chart below compares the historical Sharpe Ratios of ERX and BILD, 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

ERX vs. BILD - Drawdown Comparison

The maximum ERX drawdown since its inception was -99.54%, which is greater than BILD's maximum drawdown of -14.78%. Use the drawdown chart below to compare losses from any high point for ERX and BILD.

Drawdown Indicators

	ERX	BILD	Difference
Max Drawdown Largest peak-to-trough decline	-99.54%	-14.78%	-84.76%
Max Drawdown (1Y) Largest decline over 1 year	-29.97%	-6.05%	-23.92%
Max Drawdown (3Y) Largest decline over 3 years	-42.34%	—	—
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	-91.99%	-3.37%	-88.62%
Average Drawdown Average peak-to-trough decline	-67.26%	-3.68%	-63.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.90%	2.55%	+9.35%

Volatility

ERX vs. BILD - Volatility Comparison

Direxion Daily Energy Bull 2X Shares (ERX) has a higher volatility of 12.41% compared to Macquarie Global Listed Infrastructure ETF (BILD) at 2.91%. This indicates that ERX's price experiences larger fluctuations and is considered to be riskier than BILD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ERX	BILD	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.41%	2.91%	+9.50%
Volatility (6M) Calculated over the trailing 6-month period	33.24%	9.10%	+24.14%
Volatility (1Y) Calculated over the trailing 1-year period	42.40%	10.98%	+31.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.46%	13.07%	+38.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	68.84%	13.07%	+55.77%

ERX vs. BILD - Expense Ratio Comparison

ERX has a 0.91% expense ratio, which is higher than BILD's 0.49% expense ratio.

Dividends

ERX vs. BILD - Dividend Comparison

ERX's dividend yield for the trailing twelve months is around 1.61%, less than BILD's 4.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BILD Macquarie Global Listed Infrastructure ETF	4.73%	3.05%	5.53%	0.52%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ERX Direxion Daily Energy Bull 2X Shares	1.61%	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 ERX and BILD in my portfolio?

ERX and BILD have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ERX or BILD?

ERX has higher volatility (12.41%) compared to BILD (2.91%). In terms of maximum drawdown, ERX dropped -99.54% vs BILD's -14.78%.

Which ETF is better, ERX or BILD?

On 1-year performance, ERX leads with 73.31% vs 14.12% for BILD. On fees, BILD is cheaper at 0.49% per year. On volatility, BILD has been the lower-risk option at 2.91%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ERX or BILD?

Over the 1-year period, ERX has performed better with a 73.31% return vs 14.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ERX or BILD?

BILD is cheaper with a 0.49% expense ratio, compared with 0.91% for ERX.

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

BILD has the higher dividend yield at 4.73%, compared with 1.61% for ERX.

What is the main difference between ERX and BILD?

ERX is categorized as Energy Equities, while BILD is Infrastructure Equities. They also come from different issuers: Direxion and Macquarie. Their fees differ too: 0.91% for ERX and 0.49% for BILD.

Which has better risk-adjusted returns?

ERX currently has the higher Sharpe Ratio (1.74 vs 1.29), 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.