ERY vs. ADBG

Last updated Jun 5, 2026

ERY (Direxion Daily Energy Bear 2X Shares) and ADBG (Leverage Shares 2X Long ADBE Daily ETF) are both Leveraged Equities funds. ERY is passively managed, while ADBG is actively managed. Over the past year, ERY returned -55.06% vs -69.78% for ADBG. At a correlation of -0.12, they often move in opposite directions. ERY charges 1.07%/yr vs 0.75%/yr for ADBG.

Performance

ERY vs. ADBG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Energy Bear 2X Shares (ERY) and Leverage Shares 2X Long ADBE Daily ETF (ADBG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ERY achieves a -44.59% return, which is significantly higher than ADBG's -52.15% return.

ERY

• 1D: -0.18%
• 1M: 1.11%
• YTD: -44.59%
• 6M: -42.08%
• 1Y: -55.06%
• 3Y*: -28.20%
• 5Y*: -38.05%
• 10Y*: -33.88%

ADBG

• 1D: 1.66%
• 1M: -0.81%
• YTD: -52.15%
• 6M: -46.56%
• 1Y: -69.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ERY vs. ADBG - Yearly Performance Comparison

	2026 (YTD)	2025
ERY Direxion Daily Energy Bear 2X Shares	-44.59%	-5.12%
ADBG Leverage Shares 2X Long ADBE Daily ETF	-52.15%	-30.89%

Correlation

The correlation between ERY and ADBG 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 (1Y) Calculated over the trailing 1-year period	-0.05
Correlation (All Time) Calculated using the full available price history since Mar 24, 2025	-0.12

Return for Risk

ERY vs. ADBG — Risk / Return Rank

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

ERY

ERY Risk / Return Rank: 1
ERY Sharpe Ratio Rank: 0
ERY Sortino Ratio Rank: 0
ERY Omega Ratio Rank: 0
ERY Calmar Ratio Rank: 1
ERY Martin Ratio Rank: 1

ADBG

ADBG Risk / Return Rank: 1
ADBG Sharpe Ratio Rank: 1
ADBG Sortino Ratio Rank: 1
ADBG Omega Ratio Rank: 1
ADBG Calmar Ratio Rank: 1
ADBG Martin Ratio Rank: 2

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.

ERY vs. ADBG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Energy Bear 2X Shares (ERY) and Leverage Shares 2X Long ADBE Daily ETF (ADBG). 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.

	ERY	ADBG	Difference
Sharpe ratio: Return per unit of total volatility	-1.36	-1.04	-0.32
Sortino ratio: Return per unit of downside risk	-2.40	-1.86	-0.53
Omega ratio: Gain probability vs. loss probability	0.76	0.78	-0.02
Calmar ratio: Return relative to maximum drawdown	-0.92	-0.92	-0.01
Martin ratio: Return relative to average drawdown	-1.65	-1.39	-0.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ERY vs. ADBG - Sharpe Ratio Comparison

The current ERY Sharpe Ratio is -1.36, which is lower than the ADBG Sharpe Ratio of -1.04. The chart below compares the historical Sharpe Ratios of ERY and ADBG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ERY	ADBG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.36	-1.04	-0.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.74	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.48	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.55	-0.90	+0.36

Drawdowns

ERY vs. ADBG - Drawdown Comparison

The maximum ERY drawdown since its inception was -99.99%, which is greater than ADBG's maximum drawdown of -76.71%. Use the drawdown chart below to compare losses from any high point for ERY and ADBG.

Drawdown Indicators

	ERY	ADBG	Difference
Max Drawdown Largest peak-to-trough decline	-99.99%	-76.71%	-23.28%
Max Drawdown (1Y) Largest decline over 1 year	-59.79%	-76.23%	+16.44%
Max Drawdown (3Y) Largest decline over 3 years	-67.94%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-94.04%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-99.66%	—	—
Current Drawdown Current decline from peak	-99.99%	-70.94%	-29.05%
Average Drawdown Average peak-to-trough decline	-96.93%	-41.74%	-55.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.47%	50.32%	-16.85%

Volatility

ERY vs. ADBG - Volatility Comparison

The current volatility for Direxion Daily Energy Bear 2X Shares (ERY) is 16.11%, while Leverage Shares 2X Long ADBE Daily ETF (ADBG) has a volatility of 27.74%. This indicates that ERY experiences smaller price fluctuations and is considered to be less risky than ADBG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ERY	ADBG	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.11%	27.74%	-11.63%
Volatility (6M) Calculated over the trailing 6-month period	32.64%	56.25%	-23.61%
Volatility (1Y) Calculated over the trailing 1-year period	40.81%	67.12%	-26.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.89%	66.85%	-14.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	70.62%	66.85%	+3.77%

ERY vs. ADBG - Expense Ratio Comparison

ERY has a 1.07% expense ratio, which is higher than ADBG's 0.75% expense ratio.

Dividends

ERY vs. ADBG - Dividend Comparison

ERY's dividend yield for the trailing twelve months is around 3.75%, while ADBG has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
ADBG Leverage Shares 2X Long ADBE Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ERY Direxion Daily Energy Bear 2X Shares	3.75%	3.48%	4.13%	4.14%	0.32%	0.00%	0.43%	1.50%	0.56%

Frequently Asked Questions

Can I hold both ERY and ADBG in my portfolio?

ERY and ADBG 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 is riskier, ERY or ADBG?

ADBG has higher volatility (27.74%) compared to ERY (16.11%). In terms of maximum drawdown, ERY dropped -99.99% vs ADBG's -76.71%.

Which ETF is better, ERY or ADBG?

On 1-year performance, ERY leads with -55.06% vs -69.78% for ADBG. On fees, ADBG is cheaper at 0.75% per year. On volatility, ERY has been the lower-risk option at 16.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ERY or ADBG?

Over the 1-year period, ERY has performed better with a -55.06% return vs -69.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ERY or ADBG?

ADBG is cheaper with a 0.75% expense ratio, compared with 1.07% for ERY.

Which ETF pays a higher dividend yield, ERY or ADBG?

ERY has the higher dividend yield at 3.75%, compared with 0.00% for ADBG.

What is the main difference between ERY and ADBG?

They also come from different issuers: Direxion and Leverage Shares. Their fees differ too: 1.07% for ERY and 0.75% for ADBG.

Which has better risk-adjusted returns?

ADBG currently has the higher Sharpe Ratio (-1.04 vs -1.36), 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.