ERX vs. DIG
Compare and contrast key facts about Direxion Daily Energy Bull 2X Shares (ERX) and ProShares Ultra Oil & Gas (DIG).
ERX and DIG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ERX is a passively managed fund by Direxion that tracks the performance of the Energy Select Sector Index (300%). It was launched on Apr 1, 2020. DIG is a passively managed fund by ProShares that tracks the performance of the Dow Jones U.S. Oil & Gas Index (200%). It was launched on Jan 30, 2007. Both ERX and DIG are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ERX or DIG.
Key characteristics
| ERX | DIG | |
|---|---|---|
| YTD Return | 22.74% | 22.49% |
| 1Y Return | 26.10% | 25.88% |
| 3Y Return (Ann) | 32.05% | 29.97% |
| 5Y Return (Ann) | -13.34% | 10.58% |
| 10Y Return (Ann) | -20.46% | -3.93% |
| Sharpe Ratio | 0.60 | 0.60 |
| Sortino Ratio | 1.02 | 1.01 |
| Omega Ratio | 1.13 | 1.12 |
| Calmar Ratio | 0.22 | 0.28 |
| Martin Ratio | 1.64 | 1.63 |
| Ulcer Index | 13.01% | 12.94% |
| Daily Std Dev | 35.47% | 35.41% |
| Max Drawdown | -99.54% | -97.04% |
| Current Drawdown | -94.04% | -65.39% |
Correlation
The correlation between ERX and DIG is 0.99, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
ERX vs. DIG - Performance Comparison
The year-to-date returns for both stocks are quite close, with ERX having a 22.74% return and DIG slightly lower at 22.49%. Over the past 10 years, ERX has underperformed DIG with an annualized return of -20.46%, while DIG has yielded a comparatively higher -3.93% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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ERX vs. DIG - Expense Ratio Comparison
ERX has a 1.09% expense ratio, which is higher than DIG's 0.95% expense ratio.
Risk-Adjusted Performance
ERX vs. DIG - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Energy Bull 2X Shares (ERX) and ProShares Ultra Oil & Gas (DIG). 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.
Dividends
ERX vs. DIG - Dividend Comparison
ERX's dividend yield for the trailing twelve months is around 2.49%, more than DIG's 2.41% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ERX Direxion Daily Energy Bull 2X Shares | 2.49% | 3.17% | 2.23% | 2.16% | 2.35% | 1.56% | 3.10% | 0.85% | 0.00% | 0.00% | 0.00% | 0.00% |
DIG ProShares Ultra Oil & Gas | 2.41% | 0.61% | 1.33% | 2.24% | 3.19% | 2.72% | 2.30% | 1.76% | 1.09% | 1.56% | 0.87% | 0.43% |
Drawdowns
ERX vs. DIG - Drawdown Comparison
The maximum ERX drawdown since its inception was -99.54%, roughly equal to the maximum DIG drawdown of -97.04%. Use the drawdown chart below to compare losses from any high point for ERX and DIG. For additional features, visit the drawdowns tool.
Volatility
ERX vs. DIG - Volatility Comparison
Direxion Daily Energy Bull 2X Shares (ERX) and ProShares Ultra Oil & Gas (DIG) have volatilities of 9.72% and 9.69%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.