ERY vs. IGE
ERY (Direxion Daily Energy Bear 2X Shares) and IGE (iShares North American Natural Resources ETF) are both exchange-traded funds - ERY is a Leveraged Equities fund tracking the Energy Select Sector Index (-300%), while IGE is a Energy Equities fund tracking the S&P North American Natural Resources Sector Index. Both are passively managed. Over the past 10 years, ERY returned -33.07%/yr vs 9.16%/yr for IGE. At a correlation of -0.95, they often move in opposite directions. ERY charges 1.07%/yr vs 0.39%/yr for IGE.
Performance
ERY vs. IGE - 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 IGE's 16.30% return. Over the past 10 years, ERY has underperformed IGE with an annualized return of -33.07%, while IGE has yielded a comparatively higher 9.16% annualized 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%
IGE
- 1D
- 0.73%
- 1M
- -5.61%
- YTD
- 16.30%
- 6M
- 16.09%
- 1Y
- 31.04%
- 3Y*
- 18.81%
- 5Y*
- 16.68%
- 10Y*
- 9.16%
ERY vs. IGE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ERY Direxion Daily Energy Bear 2X Shares | -35.74% | -18.54% | -5.58% | -0.35% | -73.61% | -68.00% | -11.94% | -38.67% | 45.61% | -5.67% |
IGE iShares North American Natural Resources ETF | 16.30% | 20.41% | 7.55% | 3.12% | 33.24% | 39.42% | -19.58% | 17.16% | -21.59% | 0.82% |
Correlation
The correlation between ERY and IGE is -0.78, 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 | -0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.94 |
Correlation (All Time) Calculated using the full available price history since Nov 19, 2008 | -0.95 |
The correlation between ERY and IGE shifts across timeframes, from -0.95 (all time) to -0.78 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ERY vs. IGE — Risk / Return Rank
ERY
IGE
ERY vs. IGE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Energy Bear 2X Shares (ERY) and iShares North American Natural Resources ETF (IGE). 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 | IGE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.82 | ||
| Sortino ratioReturn per unit of downside risk | -3.92 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.32 | -0.46 |
| Calmar ratioReturn relative to maximum drawdown | -0.68 | 3.54 | -4.23 |
| Martin ratioReturn relative to average drawdown | -1.23 | 11.85 | -13.07 |
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Drawdowns
ERY vs. IGE - Drawdown Comparison
The maximum ERY drawdown since its inception was -99.99%, which is greater than IGE's maximum drawdown of -67.55%. Use the drawdown chart below to compare losses from any high point for ERY and IGE.
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Drawdown Indicators
| ERY | IGE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -67.55% | -32.44% |
Max Drawdown (1Y)Largest decline over 1 year | -56.88% | -8.80% | -48.08% |
Max Drawdown (3Y)Largest decline over 3 years | -67.94% | -19.49% | -48.45% |
Max Drawdown (5Y)Largest decline over 5 years | -94.04% | -25.72% | -68.32% |
Max Drawdown (10Y)Largest decline over 10 years | -99.66% | -60.57% | -39.09% |
Current DrawdownCurrent decline from peak | -99.99% | -8.13% | -91.86% |
Average DrawdownAverage peak-to-trough decline | -96.91% | -18.87% | -78.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 31.56% | 2.64% | +28.92% |
Volatility
ERY vs. IGE - Volatility Comparison
Direxion Daily Energy Bear 2X Shares (ERY) has a higher volatility of 14.06% compared to iShares North American Natural Resources ETF (IGE) at 5.31%. This indicates that ERY's price experiences larger fluctuations and is considered to be riskier than IGE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ERY | IGE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.06% | 5.31% | +8.75% |
Volatility (6M)Calculated over the trailing 6-month period | 33.46% | 12.97% | +20.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 41.78% | 16.53% | +25.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.83% | 22.40% | +29.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 70.63% | 24.95% | +45.68% |
ERY vs. IGE - Expense Ratio Comparison
ERY has a 1.07% expense ratio, which is higher than IGE's 0.39% expense ratio.
Dividends
ERY vs. IGE - Dividend Comparison
ERY's dividend yield for the trailing twelve months is around 3.24%, more than IGE's 2.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% |
IGE iShares North American Natural Resources ETF | 2.05% | 2.32% | 2.54% | 2.85% | 2.96% | 2.92% | 3.34% | 5.55% | 2.68% | 2.11% | 1.66% | 3.08% |
Frequently Asked Questions
ERY and IGE have a correlation of -0.78, 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 IGE (5.31%). In terms of maximum drawdown, ERY dropped -99.99% vs IGE's -67.55%.
On 10-year performance, IGE leads with 9.16% vs -33.07% for ERY. On fees, IGE is cheaper at 0.39% per year. On volatility, IGE has been the lower-risk option at 5.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IGE has performed better with a 9.16% return vs -33.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IGE is cheaper with a 0.39% expense ratio, compared with 1.07% for ERY.
ERY has the higher dividend yield at 3.24%, compared with 2.05% for IGE.
ERY is categorized as Leveraged Equities, while IGE is Energy Equities. ERY tracks Energy Select Sector Index (-300%), while IGE tracks S&P North American Natural Resources Sector Index. They also come from different issuers: Direxion and iShares. Their fees differ too: 1.07% for ERY and 0.39% for IGE.
IGE currently has the higher Sharpe Ratio (1.89 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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