ERY vs. EIPX
ERY (Direxion Daily Energy Bear 2X Shares) and EIPX (FT Energy Income Partners Strategy ETF) are both exchange-traded funds - ERY is a Leveraged Equities fund tracking the Energy Select Sector Index (-300%), while EIPX is a Energy Equities fund actively managed by First Trust. ERY is passively managed, while EIPX is actively managed. Over the past 3 years, ERY returned -25.46%/yr vs 20.84%/yr for EIPX. At a correlation of -0.84, they often move in opposite directions. ERY charges 1.07%/yr vs 0.95%/yr for EIPX.
Performance
ERY vs. EIPX - Performance Comparison
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Returns By Period
In the year-to-date period, ERY achieves a -35.74% return, which is significantly lower than EIPX's 19.71% return.
ERY
- 1D
- -2.68%
- 1M
- 18.36%
- YTD
- -35.74%
- 6M
- -37.04%
- 1Y
- -38.62%
- 3Y*
- -25.46%
- 5Y*
- -36.29%
- 10Y*
- -33.07%
EIPX
- 1D
- 0.83%
- 1M
- -4.15%
- YTD
- 19.71%
- 6M
- 20.38%
- 1Y
- 24.65%
- 3Y*
- 20.84%
- 5Y*
- —
- 10Y*
- —
ERY vs. EIPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ERY Direxion Daily Energy Bear 2X Shares | -35.74% | -18.54% | -5.58% | -0.35% | -1.70% |
EIPX FT Energy Income Partners Strategy ETF | 19.71% | 11.44% | 19.11% | 10.74% | 1.77% |
Correlation
The correlation between ERY and EIPX is -0.81, 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 | -0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.83 |
Correlation (All Time) Calculated using the full available price history since Nov 3, 2022 | -0.84 |
The correlation between ERY and EIPX has been stable across timeframes, ranging from -0.84 to -0.81 - a consistent structural relationship.
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Return for Risk
ERY vs. EIPX — Risk / Return Rank
ERY
EIPX
ERY vs. EIPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Energy Bear 2X Shares (ERY) and FT Energy Income Partners Strategy ETF (EIPX). 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.
| ERY | EIPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.15 | ||
| Sortino ratioReturn per unit of downside risk | -4.55 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.37 | -0.52 |
| Calmar ratioReturn relative to maximum drawdown | -0.68 | 4.79 | -5.47 |
| Martin ratioReturn relative to average drawdown | -1.23 | 14.89 | -16.12 |
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Drawdowns
ERY vs. EIPX - Drawdown Comparison
The maximum ERY drawdown since its inception was -99.99%, which is greater than EIPX's maximum drawdown of -15.43%. Use the drawdown chart below to compare losses from any high point for ERY and EIPX.
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Drawdown Indicators
| ERY | EIPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -15.43% | -84.56% |
Max Drawdown (1Y)Largest decline over 1 year | -56.88% | -5.17% | -51.71% |
Max Drawdown (3Y)Largest decline over 3 years | -67.94% | -15.43% | -52.51% |
Max Drawdown (5Y)Largest decline over 5 years | -94.04% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.66% | — | — |
Current DrawdownCurrent decline from peak | -99.99% | -4.38% | -95.61% |
Average DrawdownAverage peak-to-trough decline | -96.91% | -2.28% | -94.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 31.56% | 1.67% | +29.89% |
Volatility
ERY vs. EIPX - Volatility Comparison
Direxion Daily Energy Bear 2X Shares (ERY) has a higher volatility of 14.06% compared to FT Energy Income Partners Strategy ETF (EIPX) at 3.41%. This indicates that ERY's price experiences larger fluctuations and is considered to be riskier than EIPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ERY | EIPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.06% | 3.41% | +10.65% |
Volatility (6M)Calculated over the trailing 6-month period | 33.46% | 8.42% | +25.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 41.78% | 11.15% | +30.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.83% | 15.02% | +36.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 70.63% | 15.02% | +55.61% |
ERY vs. EIPX - Expense Ratio Comparison
ERY has a 1.07% expense ratio, which is higher than EIPX's 0.95% expense ratio.
Dividends
ERY vs. EIPX - Dividend Comparison
ERY's dividend yield for the trailing twelve months is around 3.24%, more than EIPX's 2.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
EIPX FT Energy Income Partners Strategy ETF | 2.73% | 3.23% | 3.27% | 3.48% | 0.34% | 0.00% | 0.00% | 0.00% | 0.00% |
ERY Direxion Daily Energy Bear 2X Shares | 3.24% | 3.48% | 4.13% | 4.14% | 0.32% | 0.00% | 0.43% | 1.50% | 0.56% |
Frequently Asked Questions
ERY and EIPX have a correlation of -0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ERY has higher volatility (14.06%) compared to EIPX (3.41%). In terms of maximum drawdown, ERY dropped -99.99% vs EIPX's -15.43%.
On 3-year performance, EIPX leads with 20.84% vs -25.46% for ERY. On fees, EIPX is cheaper at 0.95% per year. On volatility, EIPX has been the lower-risk option at 3.41%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, EIPX has performed better with a 20.84% return vs -25.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EIPX is cheaper with a 0.95% expense ratio, compared with 1.07% for ERY.
ERY has the higher dividend yield at 3.24%, compared with 2.73% for EIPX.
ERY is categorized as Leveraged Equities, while EIPX is Energy Equities. They also come from different issuers: Direxion and First Trust. Their fees differ too: 1.07% for ERY and 0.95% for EIPX.
EIPX currently has the higher Sharpe Ratio (2.23 vs -0.93), 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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