ERX vs. XTAP
Compare and contrast key facts about Direxion Daily Energy Bull 2X Shares (ERX) and Innovator U.S. Equity Accelerated Plus ETF (XTAP).
ERX and XTAP 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. XTAP is an actively managed fund by Innovator. It was launched on Apr 1, 2021.
Performance
ERX vs. XTAP - Performance Comparison
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ERX vs. XTAP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ERX Direxion Daily Energy Bull 2X Shares | 85.42% | 2.79% | 1.09% | -12.26% | 130.58% | 21.78% |
XTAP Innovator U.S. Equity Accelerated Plus ETF | 1.66% | 17.58% | 14.26% | 23.46% | -14.68% | 11.87% |
Returns By Period
In the year-to-date period, ERX achieves a 85.42% return, which is significantly higher than XTAP's 1.66% return.
ERX
- 1D
- -2.61%
- 1M
- 20.58%
- YTD
- 85.42%
- 6M
- 84.60%
- 1Y
- 61.51%
- 3Y*
- 24.14%
- 5Y*
- 36.55%
- 10Y*
- -5.60%
XTAP
- 1D
- 0.08%
- 1M
- 0.65%
- YTD
- 1.66%
- 6M
- 4.34%
- 1Y
- 16.29%
- 3Y*
- 16.22%
- 5Y*
- —
- 10Y*
- —
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ERX vs. XTAP - Expense Ratio Comparison
ERX has a 1.09% expense ratio, which is higher than XTAP's 0.79% expense ratio.
Return for Risk
ERX vs. XTAP — Risk / Return Rank
ERX
XTAP
ERX vs. XTAP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Energy Bull 2X Shares (ERX) and Innovator U.S. Equity Accelerated Plus ETF (XTAP). 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 | XTAP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.25 | 1.14 | +0.10 |
Sortino ratioReturn per unit of downside risk | 1.68 | 1.76 | -0.09 |
Omega ratioGain probability vs. loss probability | 1.25 | 1.44 | -0.20 |
Calmar ratioReturn relative to maximum drawdown | 1.86 | 1.43 | +0.43 |
Martin ratioReturn relative to average drawdown | 3.79 | 9.78 | -5.99 |
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 | XTAP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.25 | 1.14 | +0.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.71 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.08 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.08 | 0.69 | -0.77 |
Correlation
The correlation between ERX and XTAP is 0.33, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
ERX vs. XTAP - Dividend Comparison
ERX's dividend yield for the trailing twelve months is around 1.45%, while XTAP has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ERX Direxion Daily Energy Bull 2X Shares | 1.45% | 2.54% | 2.94% | 3.17% | 2.23% | 2.16% | 2.35% | 1.56% | 3.10% | 0.85% |
XTAP Innovator U.S. Equity Accelerated Plus ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
ERX vs. XTAP - Drawdown Comparison
The maximum ERX drawdown since its inception was -99.54%, which is greater than XTAP's maximum drawdown of -22.13%. Use the drawdown chart below to compare losses from any high point for ERX and XTAP.
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Drawdown Indicators
| ERX | XTAP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.54% | -22.13% | -77.41% |
Max Drawdown (1Y)Largest decline over 1 year | -35.17% | -11.83% | -23.34% |
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 | -90.64% | 0.00% | -90.64% |
Average DrawdownAverage peak-to-trough decline | -66.77% | -3.57% | -63.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.25% | 1.73% | +15.52% |
Volatility
ERX vs. XTAP - Volatility Comparison
Direxion Daily Energy Bull 2X Shares (ERX) has a higher volatility of 10.19% compared to Innovator U.S. Equity Accelerated Plus ETF (XTAP) at 0.77%. This indicates that ERX's price experiences larger fluctuations and is considered to be riskier than XTAP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ERX | XTAP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.19% | 0.77% | +9.42% |
Volatility (6M)Calculated over the trailing 6-month period | 28.10% | 2.52% | +25.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 49.61% | 14.33% | +35.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.12% | 14.60% | +37.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 69.23% | 14.60% | +54.63% |