ERX vs. BKUI
ERX (Direxion Daily Energy Bull 2X Shares) and BKUI (BNY Mellon Ultra Short Income ETF) are both exchange-traded funds - ERX is a Leveraged Equities fund tracking the Energy Select Sector Index (300%), while BKUI is a Ultrashort Bond fund actively managed by BNY Mellon. ERX is passively managed, while BKUI is actively managed. Over the past 3 years, ERX returned 23.69%/yr vs 5.21%/yr for BKUI. At a correlation of -0.10, they often move in opposite directions. ERX charges 1.09%/yr vs 0.12%/yr for BKUI.
Performance
ERX vs. BKUI - Performance Comparison
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Returns By Period
In the year-to-date period, ERX achieves a 66.93% return, which is significantly higher than BKUI's 1.42% return.
ERX
- 1D
- 2.68%
- 1M
- -3.38%
- YTD
- 66.93%
- 6M
- 59.74%
- 1Y
- 90.37%
- 3Y*
- 23.69%
- 5Y*
- 28.75%
- 10Y*
- -8.79%
BKUI
- 1D
- -0.01%
- 1M
- 0.33%
- YTD
- 1.42%
- 6M
- 1.74%
- 1Y
- 4.32%
- 3Y*
- 5.21%
- 5Y*
- —
- 10Y*
- —
ERX vs. BKUI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ERX Direxion Daily Energy Bull 2X Shares | 66.93% | 2.79% | 1.09% | -12.26% | 130.58% | 24.85% |
BKUI BNY Mellon Ultra Short Income ETF | 1.42% | 4.93% | 5.50% | 5.75% | -0.08% | -0.26% |
Correlation
The correlation between ERX and BKUI is -0.29, 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 | -0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.14 |
Correlation (All Time) Calculated using the full available price history since Aug 12, 2021 | -0.10 |
The correlation between ERX and BKUI shifts across timeframes, from -0.29 (1 year) to -0.10 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ERX vs. BKUI — Risk / Return Rank
ERX
BKUI
ERX vs. BKUI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Energy Bull 2X Shares (ERX) and BNY Mellon Ultra Short Income ETF (BKUI). 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.
| ERX | BKUI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -8.31 | ||
| Sortino ratioReturn per unit of downside risk | -22.63 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 6.02 | -4.70 |
| Calmar ratioReturn relative to maximum drawdown | 3.89 | 32.56 | -28.66 |
| Martin ratioReturn relative to average drawdown | 10.60 | 230.94 | -220.35 |
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
| ERX | BKUI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.21 | 10.52 | -8.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.56 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.13 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.09 | 6.08 | -6.17 |
Drawdowns
ERX vs. BKUI - Drawdown Comparison
The maximum ERX drawdown since its inception was -99.54%, which is greater than BKUI's maximum drawdown of -1.72%. Use the drawdown chart below to compare losses from any high point for ERX and BKUI.
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Drawdown Indicators
| ERX | BKUI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.54% | -1.72% | -97.82% |
Max Drawdown (1Y)Largest decline over 1 year | -23.34% | -0.13% | -23.21% |
Max Drawdown (3Y)Largest decline over 3 years | -42.34% | -0.25% | -42.09% |
Max Drawdown (5Y)Largest decline over 5 years | -46.90% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -98.59% | — | — |
Current DrawdownCurrent decline from peak | -91.57% | -0.01% | -91.56% |
Average DrawdownAverage peak-to-trough decline | -67.02% | -0.27% | -66.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.57% | 0.02% | +8.55% |
Volatility
ERX vs. BKUI - Volatility Comparison
Direxion Daily Energy Bull 2X Shares (ERX) has a higher volatility of 16.49% compared to BNY Mellon Ultra Short Income ETF (BKUI) at 0.15%. This indicates that ERX's price experiences larger fluctuations and is considered to be riskier than BKUI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ERX | BKUI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.49% | 0.15% | +16.34% |
Volatility (6M)Calculated over the trailing 6-month period | 33.45% | 0.31% | +33.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 41.14% | 0.41% | +40.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.98% | 0.59% | +51.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 69.18% | 0.59% | +68.59% |
ERX vs. BKUI - Expense Ratio Comparison
ERX has a 1.09% expense ratio, which is higher than BKUI's 0.12% expense ratio.
Dividends
ERX vs. BKUI - Dividend Comparison
ERX's dividend yield for the trailing twelve months is around 1.61%, less than BKUI's 4.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BKUI BNY Mellon Ultra Short Income ETF | 4.21% | 4.48% | 5.11% | 4.29% | 1.82% | 0.22% | 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
ERX and BKUI have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ERX has higher volatility (16.49%) compared to BKUI (0.15%). In terms of maximum drawdown, ERX dropped -99.54% vs BKUI's -1.72%.
On 3-year performance, ERX leads with 23.69% vs 5.21% for BKUI. On fees, BKUI is cheaper at 0.12% per year. On volatility, BKUI has been the lower-risk option at 0.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, ERX has performed better with a 23.69% return vs 5.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BKUI is cheaper with a 0.12% expense ratio, compared with 1.09% for ERX.
BKUI has the higher dividend yield at 4.21%, compared with 1.61% for ERX.
ERX is categorized as Leveraged Equities, while BKUI is Ultrashort Bond. They also come from different issuers: Direxion and BNY Mellon. Their fees differ too: 1.09% for ERX and 0.12% for BKUI.
BKUI currently has the higher Sharpe Ratio (10.52 vs 2.21), 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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