ERX vs. RVNU
ERX (Direxion Daily Energy Bull 2X Shares) and RVNU (Xtrackers Municipal Infrastructure Revenue Bond ETF) are both exchange-traded funds - ERX is a Leveraged Equities fund tracking the Energy Select Sector Index (300%), while RVNU is a Municipal Bonds fund tracking the Solactive Municipal Infrastructure Revenue Bond Index. Both are passively managed. Over the past 10 years, ERX returned -10.48%/yr vs 1.81%/yr for RVNU. At a correlation of -0.09, they often move in opposite directions. ERX charges 1.09%/yr vs 0.15%/yr for RVNU.
Performance
ERX vs. RVNU - Performance Comparison
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Returns By Period
In the year-to-date period, ERX achieves a 54.81% return, which is significantly higher than RVNU's 4.29% return. Over the past 10 years, ERX has underperformed RVNU with an annualized return of -10.48%, while RVNU has yielded a comparatively higher 1.81% annualized return.
ERX
- 1D
- -1.55%
- 1M
- 4.27%
- 6M
- 34.74%
- YTD
- 54.81%
- 1Y
- 62.96%
- 3Y*
- 18.90%
- 5Y*
- 33.63%
- 10Y*
- -10.48%
RVNU
- 1D
- -0.32%
- 1M
- 0.40%
- 6M
- 3.28%
- YTD
- 4.29%
- 1Y
- 10.01%
- 3Y*
- 3.25%
- 5Y*
- -0.39%
- 10Y*
- 1.81%
ERX vs. RVNU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ERX Direxion Daily Energy Bull 2X Shares | 54.81% | 2.79% | 1.09% | -12.26% | 130.58% | 111.91% | -91.60% | 17.13% | -55.94% | -11.60% |
RVNU Xtrackers Municipal Infrastructure Revenue Bond ETF | 4.29% | 0.58% | 1.46% | 11.19% | -16.60% | 2.28% | 6.54% | 10.16% | -0.56% | 8.24% |
Correlation
The correlation between ERX and RVNU 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 | -0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2013 | -0.09 |
Over the past year, the inverse relationship between ERX and RVNU has strengthened: their correlation has moved from -0.09 to -0.29, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
ERX vs. RVNU — Risk / Return Rank
ERX
RVNU
ERX vs. RVNU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Energy Bull 2X Shares (ERX) and Xtrackers Municipal Infrastructure Revenue Bond ETF (RVNU). 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 | RVNU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.55 | ||
| Sortino ratioReturn per unit of downside risk | -1.08 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.39 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.11 | 4.08 | -1.97 |
| Martin ratioReturn relative to average drawdown | 5.49 | 14.70 | -9.22 |
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Drawdowns
ERX vs. RVNU - Drawdown Comparison
The maximum ERX drawdown since its inception was -99.54%, which is greater than RVNU's maximum drawdown of -23.51%. Use the drawdown chart below to compare losses from any high point for ERX and RVNU.
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Drawdown Indicators
| ERX | RVNU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.54% | -23.51% | -76.03% |
Max Drawdown (1Y)Largest decline over 1 year | -29.97% | -2.46% | -27.51% |
Max Drawdown (3Y)Largest decline over 3 years | -42.34% | -10.35% | -31.99% |
Max Drawdown (5Y)Largest decline over 5 years | -46.90% | -23.51% | -23.39% |
Max Drawdown (10Y)Largest decline over 10 years | -98.59% | -23.51% | -75.08% |
Current DrawdownCurrent decline from peak | -92.19% | -2.26% | -89.93% |
Average DrawdownAverage peak-to-trough decline | -67.18% | -4.95% | -62.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.52% | 0.69% | +10.83% |
Volatility
ERX vs. RVNU - Volatility Comparison
Direxion Daily Energy Bull 2X Shares (ERX) has a higher volatility of 14.42% compared to Xtrackers Municipal Infrastructure Revenue Bond ETF (RVNU) at 1.04%. This indicates that ERX's price experiences larger fluctuations and is considered to be riskier than RVNU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ERX | RVNU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.42% | 1.04% | +13.38% |
Volatility (6M)Calculated over the trailing 6-month period | 33.71% | 3.53% | +30.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.19% | 4.91% | +37.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.77% | 7.20% | +44.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 68.93% | 7.24% | +61.69% |
ERX vs. RVNU - Expense Ratio Comparison
ERX has a 1.09% expense ratio, which is higher than RVNU's 0.15% expense ratio.
Dividends
ERX vs. RVNU - Dividend Comparison
ERX's dividend yield for the trailing twelve months is around 1.65%, less than RVNU's 3.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ERX Direxion Daily Energy Bull 2X Shares | 1.65% | 2.54% | 2.94% | 3.17% | 2.23% | 2.16% | 2.35% | 1.56% | 3.10% | 0.85% | 0.00% | 0.00% |
RVNU Xtrackers Municipal Infrastructure Revenue Bond ETF | 3.53% | 3.46% | 3.06% | 2.79% | 2.81% | 2.18% | 2.43% | 2.75% | 2.76% | 2.49% | 2.72% | 3.01% |
Frequently Asked Questions
ERX and RVNU 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 (14.42%) compared to RVNU (1.04%). In terms of maximum drawdown, ERX dropped -99.54% vs RVNU's -23.51%.
On 10-year performance, RVNU leads with 1.81% vs -10.48% for ERX. On fees, RVNU is cheaper at 0.15% per year. On volatility, RVNU has been the lower-risk option at 1.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, RVNU has performed better with a 1.81% return vs -10.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RVNU is cheaper with a 0.15% expense ratio, compared with 1.09% for ERX.
RVNU has the higher dividend yield at 3.53%, compared with 1.65% for ERX.
ERX is categorized as Leveraged Equities, while RVNU is Municipal Bonds. ERX tracks Energy Select Sector Index (300%), while RVNU tracks Solactive Municipal Infrastructure Revenue Bond Index. They also come from different issuers: Direxion and Deutsche Bank. Their fees differ too: 1.09% for ERX and 0.15% for RVNU.
RVNU currently has the higher Sharpe Ratio (2.05 vs 1.50), 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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