ERX vs. RAYS

Last updated Aug 6, 2026

ERX (Direxion Daily Energy Bull 2X Shares) and RAYS (Global X Solar ETF) are both exchange-traded funds - ERX is a Energy Equities fund tracking the Energy Select Sector Index (200%), while RAYS is a Alternative Energy Equities fund tracking the Solactive Solar Index. Both are passively managed. ERX charges 0.91%/yr vs 0.50%/yr for RAYS.

Performance

ERX vs. RAYS - Performance Comparison

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

Returns By Period

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%

RAYS

• 1D: 0.00%
• 1M: 0.00%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*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)
ERX Direxion Daily Energy Bull 2X Shares	$23.06M	$23.66M	$27.73M
RAYS Global X Solar ETF	$0.00	$0.00	$0.00

ERX vs. RAYS - Yearly Performance Comparison

	2026 (YTD)
ERX Direxion Daily Energy Bull 2X Shares	17.90%
RAYS Global X Solar ETF	0.00%

ERX vs. RAYS - Sectors Allocation Comparison

Sectors	ERX	RAYS
Energy	100.0%	-
Basic Materials	-	0.9%
Communication Services	-	-
Consumer Cyclical	-	4.0%
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	21.4%
Real Estate	-	-
Technology	-	66.9%
Utilities	-	6.8%

Return for Risk

ERX vs. RAYS — 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

RAYS

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. RAYS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Energy Bull 2X Shares (ERX) and Global X Solar ETF (RAYS). 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	RAYS	Difference
Sharpe ratio: Return per unit of total volatility	1.74	—	—
Sortino ratio: Return per unit of downside risk	2.19	—	—
Omega ratio: Gain probability vs. loss probability	1.27	—	—
Calmar ratio: Return relative to maximum drawdown	2.46	—	—
Martin ratio: Return relative to average drawdown	6.18	—	—

Drawdowns

ERX vs. RAYS - Drawdown Comparison

The maximum ERX drawdown since its inception was -99.54%, which is greater than RAYS's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for ERX and RAYS.

Drawdown Indicators

	ERX	RAYS	Difference
Max Drawdown Largest peak-to-trough decline	-99.54%	0.00%	-99.54%
Max Drawdown (1Y) Largest decline over 1 year	-29.97%	—	—
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%	0.00%	-91.99%
Average Drawdown Average peak-to-trough decline	-67.26%	0.00%	-67.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.90%	—	—

Volatility

Volatility by Period

	ERX	RAYS	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.41%	—	—
Volatility (6M) Calculated over the trailing 6-month period	33.24%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	42.40%	0.00%	+42.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.46%	0.00%	+51.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	68.84%	0.00%	+68.84%

ERX vs. RAYS - Expense Ratio Comparison

ERX has a 0.91% expense ratio, which is higher than RAYS's 0.50% expense ratio.

Dividends

ERX vs. RAYS - Dividend Comparison

ERX's dividend yield for the trailing twelve months is around 1.61%, while RAYS has not paid dividends to shareholders.

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%
RAYS Global X Solar ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, ERX or RAYS?

On fees, RAYS is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ERX or RAYS?

RAYS is cheaper with a 0.50% expense ratio, compared with 0.91% for ERX.

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

ERX has the higher dividend yield at 1.61%, compared with 0.00% for RAYS.

What is the main difference between ERX and RAYS?

ERX is categorized as Energy Equities, while RAYS is Alternative Energy Equities. ERX tracks Energy Select Sector Index (200%), while RAYS tracks Solactive Solar Index. They also come from different issuers: Direxion and Global X. Their fees differ too: 0.91% for ERX and 0.50% for RAYS.