ERX vs. HOOI

Last updated Jun 4, 2026

ERX (Direxion Daily Energy Bull 2X Shares) and HOOI (Defiance Leveraged Long + Income HOOD ETF) are both Leveraged Equities funds. ERX is passively managed, while HOOI is actively managed. At a 0.05 correlation, their price movements are largely independent. ERX charges 1.09%/yr vs 1.51%/yr for HOOI.

Performance

ERX vs. HOOI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Energy Bull 2X Shares (ERX) and Defiance Leveraged Long + Income HOOD ETF (HOOI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ERX achieves a 66.93% return, which is significantly higher than HOOI's -10.33% 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%

HOOI

• 1D: 0.00%
• 1M: 0.00%
• YTD: -10.33%
• 6M: -33.83%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ERX vs. HOOI - Yearly Performance Comparison

	2026 (YTD)	2025
ERX Direxion Daily Energy Bull 2X Shares	66.93%	10.62%
HOOI Defiance Leveraged Long + Income HOOD ETF	-10.33%	-14.45%

Correlation

The correlation between ERX and HOOI is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 20, 2025	0.05

Return for Risk

ERX vs. HOOI — Risk / Return Rank

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

ERX

ERX Risk / Return Rank: 61
ERX Sharpe Ratio Rank: 65
ERX Sortino Ratio Rank: 53
ERX Omega Ratio Rank: 51
ERX Calmar Ratio Rank: 76
ERX Martin Ratio Rank: 59

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.

ERX vs. HOOI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Energy Bull 2X Shares (ERX) and Defiance Leveraged Long + Income HOOD ETF (HOOI). 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	HOOI	Difference
Sharpe ratio: Return per unit of total volatility	2.21	—	—
Sortino ratio: Return per unit of downside risk	2.62	—	—
Omega ratio: Gain probability vs. loss probability	1.32	—	—
Calmar ratio: Return relative to maximum drawdown	3.89	—	—
Martin ratio: Return relative to average drawdown	10.60	—	—
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

	ERX	HOOI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.21	—	—
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	-0.34	+0.25

Drawdowns

ERX vs. HOOI - Drawdown Comparison

The maximum ERX drawdown since its inception was -99.54%, which is greater than HOOI's maximum drawdown of -58.34%. Use the drawdown chart below to compare losses from any high point for ERX and HOOI.

Drawdown Indicators

	ERX	HOOI	Difference
Max Drawdown Largest peak-to-trough decline	-99.54%	-58.34%	-41.20%
Max Drawdown (1Y) Largest decline over 1 year	-23.34%	—	—
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	-91.57%	-57.31%	-34.26%
Average Drawdown Average peak-to-trough decline	-67.02%	-39.57%	-27.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.57%	—	—

Volatility

Volatility by Period

	ERX	HOOI	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.49%	—	—
Volatility (6M) Calculated over the trailing 6-month period	33.45%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	41.14%	88.80%	-47.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.98%	88.80%	-36.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	69.18%	88.80%	-19.62%

ERX vs. HOOI - Expense Ratio Comparison

ERX has a 1.09% expense ratio, which is lower than HOOI's 1.51% expense ratio.

Dividends

ERX vs. HOOI - Dividend Comparison

ERX's dividend yield for the trailing twelve months is around 1.61%, less than HOOI's 52.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
HOOI Defiance Leveraged Long + Income HOOD ETF	52.10%	41.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ERX and HOOI in my portfolio?

ERX and HOOI have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ERX or HOOI?

On fees, ERX is cheaper at 1.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ERX or HOOI?

ERX is cheaper with a 1.09% expense ratio, compared with 1.51% for HOOI.

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

HOOI has the higher dividend yield at 52.10%, compared with 1.61% for ERX.

What is the main difference between ERX and HOOI?

They also come from different issuers: Direxion and Defiance. Their fees differ too: 1.09% for ERX and 1.51% for HOOI.