ERY vs. GEVG

Last updated Jun 5, 2026

ERY (Direxion Daily Energy Bear 2X Shares) and GEVG (Leverage Shares 2X Long GEV Daily ETF) are both Leveraged Equities funds. ERY is passively managed, while GEVG is actively managed. At a 0.10 correlation, their price movements are largely independent. ERY charges 1.07%/yr vs 0.75%/yr for GEVG.

Performance

ERY vs. GEVG - 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 GEV Daily ETF (GEVG). 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 lower than GEVG's 89.45% 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%

GEVG

• 1D: 0.68%
• 1M: -24.96%
• YTD: 89.45%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ERY vs. GEVG - Yearly Performance Comparison

	2026 (YTD)	2025
ERY Direxion Daily Energy Bear 2X Shares	-44.59%	-5.46%
GEVG Leverage Shares 2X Long GEV Daily ETF	89.45%	-11.09%

Correlation

The correlation between ERY and GEVG is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 17, 2025	0.10

Return for Risk

ERY vs. GEVG — 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

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. GEVG - 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 GEV Daily ETF (GEVG). 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	GEVG	Difference
Sharpe ratio: Return per unit of total volatility	-1.36	—	—
Sortino ratio: Return per unit of downside risk	-2.40	—	—
Omega ratio: Gain probability vs. loss probability	0.76	—	—
Calmar ratio: Return relative to maximum drawdown	-0.92	—	—
Martin ratio: Return relative to average drawdown	-1.65	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	ERY	GEVG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.36	—	—
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	2.20	-2.74

Drawdowns

ERY vs. GEVG - Drawdown Comparison

The maximum ERY drawdown since its inception was -99.99%, which is greater than GEVG's maximum drawdown of -33.81%. Use the drawdown chart below to compare losses from any high point for ERY and GEVG.

Drawdown Indicators

	ERY	GEVG	Difference
Max Drawdown Largest peak-to-trough decline	-99.99%	-33.81%	-66.18%
Max Drawdown (1Y) Largest decline over 1 year	-59.79%	—	—
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%	-32.16%	-67.83%
Average Drawdown Average peak-to-trough decline	-96.93%	-9.45%	-87.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.47%	—	—

Volatility

Volatility by Period

	ERY	GEVG	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.11%	—	—
Volatility (6M) Calculated over the trailing 6-month period	32.64%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	40.81%	96.19%	-55.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.89%	96.19%	-44.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	70.62%	96.19%	-25.57%

ERY vs. GEVG - Expense Ratio Comparison

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

Dividends

ERY vs. GEVG - Dividend Comparison

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

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
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%
GEVG Leverage Shares 2X Long GEV Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ERY and GEVG in my portfolio?

ERY and GEVG have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ERY or GEVG?

On fees, GEVG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ERY or GEVG?

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

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

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

What is the main difference between ERY and GEVG?

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